DUK vs SNPS: Correlation
Duke Energy (DUK) and Synopsys (SNPS) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUK and SNPS?
Over the past 3 years, DUK and SNPS moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.21 over 3. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -141.8 %².
Among the 53 assets we track against DUK, SNPS ranks #36 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DUK outperformed by 24.0 percentage points (+1.1% for DUK against -22.9% for SNPS). The relationship is regime-dependent: the rolling one-year correlation swung between -0.49 and 0.01 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since SNPS carries 2.7 times the volatility of the other side.
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.
DUK vs SNPS: side by side
| DUK (Duke Energy) | SNPS (Synopsys) | |
|---|---|---|
| 1-year return | +1.1% | -22.9% |
| 5-year return | +39.8% | +39.1% |
| Volatility (ann.) | 15.9% | 42.2% |
| Beta vs S&P 500 | -0.09 | 1.57 |
| Max drawdown (3Y) | -11.6% | -42.3% |
| Market cap | $94.2B | $89.1B |
| P/E (trailing) | 18.3 | 71.4 |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | DUK | SNPS |
|---|---|---|
| 2022 | +2.0% | -13.4% |
| 2023 | -1.6% | +61.3% |
| 2024 | +15.6% | -5.7% |
| 2025 | +12.7% | -3.2% |
| 2026 | +5.8% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUK and SNPS good diversifiers for each other?
Yes. With a correlation of -0.21, DUK and SNPS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DUK and SNPS?
The DUK/SNPS correlation stands at -0.21 on a 3-year window (1 year: -0.21, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is SNPS a good diversifier for DUK?
Yes. With a correlation of -0.21, DUK and SNPS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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: DUK correlations · SNPS correlations
