WDAY vs. CDNS
WDAY (Workday, Inc.) 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, WDAY returned 6.36%/yr vs 31.92%/yr for CDNS. A 0.50 correlation means they provide meaningful diversification when combined.
Performance
WDAY vs. CDNS - Performance Comparison
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Returns By Period
In the year-to-date period, WDAY achieves a -33.07% return, which is significantly lower than CDNS's 26.12% return. Over the past 10 years, WDAY has underperformed CDNS with an annualized return of 6.36%, while CDNS has yielded a comparatively higher 31.92% annualized return.
WDAY
- 1D
- -0.36%
- 1M
- 12.46%
- YTD
- -33.07%
- 6M
- -34.95%
- 1Y
- -43.11%
- 3Y*
- -11.07%
- 5Y*
- -8.61%
- 10Y*
- 6.36%
CDNS
- 1D
- 4.80%
- 1M
- 8.70%
- YTD
- 26.12%
- 6M
- 16.88%
- 1Y
- 32.76%
- 3Y*
- 19.80%
- 5Y*
- 25.79%
- 10Y*
- 31.92%
WDAY vs. CDNS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WDAY Workday, Inc. | -33.07% | -16.76% | -6.53% | 64.98% | -38.75% | 14.01% | 45.70% | 2.99% | 56.95% | 53.94% |
CDNS Cadence Design Systems, Inc. | 26.12% | 4.03% | 10.31% | 69.55% | -13.80% | 36.59% | 96.70% | 59.52% | 3.97% | 65.82% |
Correlation
The correlation between WDAY and CDNS is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2012 | 0.50 |
The correlation between WDAY and CDNS shifts across timeframes, from 0.31 (1 year) to 0.55 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
WDAY:
$36.56B
CDNS:
$107.91B
WDAY:
$3.20
CDNS:
$4.28
WDAY:
44.88
CDNS:
92.03
WDAY:
0.03
CDNS:
7.02
WDAY:
3.86
CDNS:
19.49
WDAY:
5.47
CDNS:
12.37
WDAY:
$9.85B
CDNS:
$5.53B
WDAY:
$7.66B
CDNS:
$4.91B
WDAY:
$1.57B
CDNS:
$1.87B
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Return for Risk
WDAY vs. CDNS — Risk / Return Rank
WDAY
CDNS
WDAY vs. CDNS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Workday, Inc. (WDAY) 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.
| WDAY | CDNS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.18 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 1.14 | -1.92 |
| Martin ratioReturn relative to average drawdown | -1.46 | 2.42 | -3.87 |
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
| WDAY | CDNS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 0.85 | -1.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.22 | 0.72 | -0.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.94 | -0.78 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.24 | -0.03 |
Drawdowns
WDAY vs. CDNS - Drawdown Comparison
The maximum WDAY drawdown since its inception was -63.38%, smaller than the maximum CDNS drawdown of -93.13%. Use the drawdown chart below to compare losses from any high point for WDAY and CDNS.
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Drawdown Indicators
| WDAY | CDNS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.38% | -93.13% | +29.75% |
Max Drawdown (1Y)Largest decline over 1 year | -55.52% | -28.85% | -26.67% |
Max Drawdown (3Y)Largest decline over 3 years | -63.38% | -29.05% | -34.33% |
Max Drawdown (5Y)Largest decline over 5 years | -63.38% | -29.59% | -33.79% |
Max Drawdown (10Y)Largest decline over 10 years | -63.38% | -32.12% | -31.26% |
Current DrawdownCurrent decline from peak | -53.20% | -5.32% | -47.88% |
Average DrawdownAverage peak-to-trough decline | -20.93% | -39.64% | +18.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 13.60% | +16.04% |
Volatility
WDAY vs. CDNS - Volatility Comparison
Workday, Inc. (WDAY) has a higher volatility of 19.95% compared to Cadence Design Systems, Inc. (CDNS) at 16.58%. This indicates that WDAY'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
| WDAY | CDNS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.95% | 16.58% | +3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 37.34% | 31.69% | +5.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.49% | 39.02% | +4.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.94% | 36.20% | +2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.91% | 34.13% | +4.78% |
Dividends
WDAY vs. CDNS - Dividend Comparison
Neither WDAY nor CDNS has paid dividends to shareholders.
Financials
WDAY vs. CDNS - Financials Comparison
This section allows you to compare key financial metrics between Workday, Inc. 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
WDAY vs. CDNS - Profitability Comparison
WDAY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Workday, Inc. reported a gross profit of 2.13B and revenue of 2.54B. Therefore, the gross margin over that period was 83.8%.
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%.
WDAY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Workday, Inc. reported an operating income of 338.00M and revenue of 2.54B, resulting in an operating margin of 13.3%.
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%.
WDAY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Workday, Inc. reported a net income of 222.00M and revenue of 2.54B, resulting in a net margin of 8.7%.
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
WDAY and CDNS have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WDAY has higher volatility (19.95%) compared to CDNS (16.58%). In terms of maximum drawdown, WDAY dropped -63.38% vs CDNS's -93.13%.
CDNS currently has the higher Sharpe Ratio (0.85 vs -1.00), 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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