CDNS vs CRWD: Correlation
Measured on weekly returns over the past three years, Cadence Design Systems (CDNS) and CrowdStrike (CRWD) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDNS and CRWD?
On 3 years of weekly data the CDNS/CRWD correlation comes out at 0.57, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.57 over 3 years. The 5-year figure is 0.57, and annualized covariance runs at 1019.4 %².
Among the 34 assets we track against CDNS, CRWD ranks #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CRWD ahead by 115.6 points (+0.2% versus +115.8%). The rolling one-year correlation moved between 0.42 and 0.74 over the past three years, a moderate range.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CDNS vs CRWD: side by side
| CDNS (Cadence Design Systems) | CRWD (CrowdStrike) | |
|---|---|---|
| 1-year return | +0.2% | +115.8% |
| 5-year return | +112.1% | +218.4% |
| Volatility (ann.) | 35.8% | 50.2% |
| Beta vs S&P 500 | 1.45 | 1.87 |
| Max drawdown (3Y) | -29.1% | -44.4% |
| Market cap | $95.7B | $233.4B |
| P/E (trailing) | 66.7 | 3256.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | CDNS | CRWD |
|---|---|---|
| 2022 | -13.8% | -48.6% |
| 2023 | +69.6% | +142.5% |
| 2024 | +10.3% | +34.0% |
| 2025 | +4.0% | +37.0% |
| 2026 | +11.2% | +94.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDNS and CRWD good diversifiers for each other?
Only partially. A correlation of 0.57 means CDNS and CRWD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CDNS and CRWD?
As of 2026-08-27, the correlation of weekly returns between CDNS and CRWD is 0.57 over 3 years, 0.46 over 1 year and 0.57 over 5 years.
Is CRWD a good diversifier for CDNS?
Only partially. A correlation of 0.57 means CDNS and CRWD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CDNS correlations · CRWD correlations
