SLV vs. CDNS
SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price, while CDNS (Cadence Design Systems, Inc.) is a stock. Over the past 10 years, SLV returned 13.99%/yr vs 31.77%/yr for CDNS. At a 0.14 correlation, their price movements are largely independent.
Performance
SLV vs. CDNS - Performance Comparison
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Returns By Period
In the year-to-date period, SLV achieves a -4.86% return, which is significantly lower than CDNS's 23.16% return. Over the past 10 years, SLV has underperformed CDNS with an annualized return of 13.99%, while CDNS has yielded a comparatively higher 31.77% annualized return.
SLV
- 1D
- 0.77%
- 1M
- -22.76%
- YTD
- -4.86%
- 6M
- 9.25%
- 1Y
- 85.39%
- 3Y*
- 41.27%
- 5Y*
- 18.83%
- 10Y*
- 13.99%
CDNS
- 1D
- 0.32%
- 1M
- 8.58%
- YTD
- 23.16%
- 6M
- 19.10%
- 1Y
- 25.05%
- 3Y*
- 17.22%
- 5Y*
- 24.39%
- 10Y*
- 31.77%
SLV vs. CDNS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | -4.86% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
CDNS Cadence Design Systems, Inc. | 23.16% | 4.03% | 10.31% | 69.55% | -13.80% | 36.59% | 96.70% | 59.52% | 3.97% | 65.82% |
Correlation
The correlation between SLV and CDNS is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.14 |
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Return for Risk
SLV vs. CDNS — Risk / Return Rank
SLV
CDNS
SLV vs. CDNS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SLV | CDNS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.15 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 0.87 | +1.02 |
| Martin ratioReturn relative to average drawdown | 4.10 | 1.84 | +2.26 |
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Drawdowns
SLV vs. CDNS - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, smaller than the maximum CDNS drawdown of -93.13%. Use the drawdown chart below to compare losses from any high point for SLV and CDNS.
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Drawdown Indicators
| SLV | CDNS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -93.13% | +16.85% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -28.85% | -16.55% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -29.05% | -16.35% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | -29.59% | -15.81% |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | -32.12% | -13.28% |
Current DrawdownCurrent decline from peak | -41.96% | -7.55% | -34.41% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -39.62% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.88% | 13.63% | +7.25% |
Volatility
SLV vs. CDNS - Volatility Comparison
iShares Silver Trust (SLV) and Cadence Design Systems, Inc. (CDNS) have volatilities of 16.34% and 16.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | CDNS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.34% | 16.52% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 59.10% | 31.73% | +27.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.82% | 38.94% | +20.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.46% | 36.17% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 34.12% | -2.12% |
Dividends
SLV vs. CDNS - Dividend Comparison
Neither SLV nor CDNS has paid dividends to shareholders.
Frequently Asked Questions
SLV and CDNS have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDNS has higher volatility (16.52%) compared to SLV (16.34%). In terms of maximum drawdown, SLV dropped -76.28% vs CDNS's -93.13%.
SLV currently has the higher Sharpe Ratio (1.44 vs 0.65), 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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