PRGS vs. CDNS
PRGS (Progress Software Corporation) and CDNS (Cadence Design Systems, Inc.) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 10 years, PRGS returned 3.02%/yr vs 32.37%/yr for CDNS. At a 0.32 correlation, their price movements are largely independent.
Performance
PRGS vs. CDNS - Performance Comparison
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Returns By Period
In the year-to-date period, PRGS achieves a -25.61% return, which is significantly lower than CDNS's 30.53% return. Over the past 10 years, PRGS has underperformed CDNS with an annualized return of 3.02%, while CDNS has yielded a comparatively higher 32.37% annualized return.
PRGS
- 1D
- -6.14%
- 1M
- 8.97%
- YTD
- -25.61%
- 6M
- -26.33%
- 1Y
- -49.29%
- 3Y*
- -18.52%
- 5Y*
- -6.25%
- 10Y*
- 3.02%
CDNS
- 1D
- -2.01%
- 1M
- 16.73%
- YTD
- 30.53%
- 6M
- 21.39%
- 1Y
- 39.09%
- 3Y*
- 21.11%
- 5Y*
- 26.34%
- 10Y*
- 32.37%
PRGS vs. CDNS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRGS Progress Software Corporation | -25.61% | -34.06% | 21.16% | 8.94% | 6.05% | 8.44% | 10.64% | 18.95% | -15.41% | 35.45% |
CDNS Cadence Design Systems, Inc. | 30.53% | 4.03% | 10.31% | 69.55% | -13.80% | 36.59% | 96.70% | 59.52% | 3.97% | 65.82% |
Correlation
The correlation between PRGS and CDNS is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 1991 | 0.32 |
The correlation between PRGS and CDNS shifts across timeframes, from 0.32 (all time) to 0.44 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
PRGS:
$1.37B
CDNS:
$111.68B
PRGS:
$1.95
CDNS:
$4.28
PRGS:
16.35
CDNS:
95.24
PRGS:
45.27
CDNS:
7.26
PRGS:
1.41
CDNS:
20.17
PRGS:
2.74
CDNS:
12.80
PRGS:
$987.62M
CDNS:
$5.53B
PRGS:
$802.40M
CDNS:
$4.91B
PRGS:
$136.06M
CDNS:
$1.87B
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Return for Risk
PRGS vs. CDNS — Risk / Return Rank
PRGS
CDNS
PRGS vs. CDNS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Progress Software Corporation (PRGS) and Cadence Design Systems, Inc. (CDNS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| PRGS | CDNS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -3.18 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.21 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 1.36 | -2.17 |
| Martin ratioReturn relative to average drawdown | -1.30 | 2.89 | -4.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRGS | CDNS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.01 | 1.04 | -2.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | 0.74 | -0.92 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | 0.96 | -0.86 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.24 | -0.08 |
Drawdowns
PRGS vs. CDNS - Drawdown Comparison
The maximum PRGS drawdown since its inception was -67.33%, smaller than the maximum CDNS drawdown of -93.13%. Use the drawdown chart below to compare losses from any high point for PRGS and CDNS.
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Drawdown Indicators
| PRGS | CDNS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.33% | -93.13% | +25.80% |
Max Drawdown (1Y)Largest decline over 1 year | -61.20% | -28.85% | -32.35% |
Max Drawdown (3Y)Largest decline over 3 years | -64.10% | -29.05% | -35.05% |
Max Drawdown (5Y)Largest decline over 5 years | -64.10% | -29.59% | -34.51% |
Max Drawdown (10Y)Largest decline over 10 years | -64.10% | -32.12% | -31.98% |
Current DrawdownCurrent decline from peak | -54.27% | -2.01% | -52.26% |
Average DrawdownAverage peak-to-trough decline | -23.54% | -39.65% | +16.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.95% | 13.58% | +24.37% |
Volatility
PRGS vs. CDNS - Volatility Comparison
Progress Software Corporation (PRGS) has a higher volatility of 17.73% compared to Cadence Design Systems, Inc. (CDNS) at 12.68%. This indicates that PRGS's price experiences larger fluctuations and is considered to be riskier than CDNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRGS | CDNS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.73% | 12.68% | +5.05% |
Volatility (6M)Calculated over the trailing 6-month period | 41.77% | 30.56% | +11.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.97% | 37.65% | +11.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.45% | 35.94% | -2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.18% | 33.97% | -0.79% |
Dividends
PRGS vs. CDNS - Dividend Comparison
Neither PRGS nor CDNS has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CDNS Cadence Design Systems, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRGS Progress Software Corporation | 0.00% | 0.00% | 0.81% | 1.29% | 1.39% | 1.45% | 1.48% | 1.52% | 1.62% | 1.21% | 0.39% |
Financials
PRGS vs. CDNS - Financials Comparison
This section allows you to compare key financial metrics between Progress Software Corporation and Cadence Design Systems, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PRGS vs. CDNS - Profitability Comparison
PRGS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Progress Software Corporation reported a gross profit of 203.94M and revenue of 247.80M. Therefore, the gross margin over that period was 82.3%.
CDNS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cadence Design Systems, Inc. reported a gross profit of 1.41B and revenue of 1.47B. Therefore, the gross margin over that period was 95.9%.
PRGS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Progress Software Corporation reported an operating income of 46.47M and revenue of 247.80M, resulting in an operating margin of 18.8%.
CDNS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cadence Design Systems, Inc. reported an operating income of 431.33M and revenue of 1.47B, resulting in an operating margin of 29.3%.
PRGS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Progress Software Corporation reported a net income of 22.81M and revenue of 247.80M, resulting in a net margin of 9.2%.
CDNS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cadence Design Systems, Inc. reported a net income of 335.66M and revenue of 1.47B, resulting in a net margin of 22.8%.
Frequently Asked Questions
PRGS and CDNS have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRGS has higher volatility (17.73%) compared to CDNS (12.68%). In terms of maximum drawdown, PRGS dropped -67.33% vs CDNS's -93.13%.
CDNS currently has the higher Sharpe Ratio (1.04 vs -1.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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