CDNS vs DUK: Correlation
Measured on weekly returns over the past three years, Cadence Design Systems (CDNS) and Duke Energy (DUK) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDNS and DUK?
On 3 years of weekly data the CDNS/DUK correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.27 over 3. The 5-year figure is -0.07, and annualized covariance runs at -151.6 %².
DUK is close to the least connected end of CDNS's tracked universe, ranking #30 of 34. Their 12-month results are close: +0.2% for CDNS against +1.1% for DUK. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.53 to 0.05. Note the risk asymmetry: CDNS runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 DUK: side by side
| CDNS (Cadence Design Systems) | DUK (Duke Energy) | |
|---|---|---|
| 1-year return | +0.2% | +1.1% |
| 5-year return | +112.1% | +39.8% |
| Volatility (ann.) | 35.8% | 15.9% |
| Beta vs S&P 500 | 1.45 | -0.09 |
| Max drawdown (3Y) | -29.1% | -11.6% |
| Market cap | $95.7B | $94.2B |
| P/E (trailing) | 66.7 | 18.3 |
| Dividend yield | 0.00% | 3.49% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | CDNS | DUK |
|---|---|---|
| 2022 | -13.8% | +2.0% |
| 2023 | +69.6% | -1.6% |
| 2024 | +10.3% | +15.6% |
| 2025 | +4.0% | +12.7% |
| 2026 | +11.2% | +5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDNS and DUK good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between CDNS and DUK?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.21 over the last year and -0.07 over 5 years.
Is DUK a good diversifier for CDNS?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cdns-vs-duk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdns-vs-duk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CDNS correlations · DUK correlations
