CDNS vs VOO: Correlation
Cadence Design Systems (CDNS) and Vanguard S&P 500 ETF (VOO) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDNS and VOO?
On 3 years of weekly data the CDNS/VOO correlation comes out at 0.59, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.59 over 3. The 5-year figure is 0.63, and annualized covariance runs at 301.4 %².
Within CDNS's tracked universe of 34 assets, VOO comes in at #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VOO outperformed by 20.4 percentage points (+0.2% for CDNS against +20.6% for VOO). Across three years, the rolling one-year figure varied moderately, from 0.41 to 0.77. Note the risk asymmetry: CDNS runs 2.5 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 VOO: side by side
| CDNS (Cadence Design Systems) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +0.2% | +20.6% |
| 5-year return | +112.1% | +83.0% |
| Volatility (ann.) | 35.8% | 14.4% |
| Beta vs S&P 500 | 1.45 | 0.99 |
| Max drawdown (3Y) | -29.1% | -18.7% |
| Market cap | $95.7B | – |
| P/E (trailing) | 66.7 | – |
| Dividend yield | 0.00% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | Information Technology | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | CDNS | VOO |
|---|---|---|
| 2022 | -13.8% | -18.2% |
| 2023 | +69.6% | +26.3% |
| 2024 | +10.3% | +25.0% |
| 2025 | +4.0% | +17.8% |
| 2026 | +11.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VOO holds CDNS at a 0.15% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are CDNS and VOO good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CDNS and VOO?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.50 over the last year and 0.63 over 5 years.
Is VOO a good diversifier for CDNS?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CDNS correlations · VOO correlations
