Synopsys Inc (SNPS) — Stock Correlations & Overview
Over the past year, SNPS has moved most closely with CDNS, ESLG, PCLG. Explore the stocks most correlated and inversely correlated with SNPS below, along with its price, financials, and company profile.
Stocks correlated with SNPS
Correlation of daily returns. Higher positive values move with SNPS; negative values move opposite it. Informational only, not investment advice.
Most correlated with SNPS
| Symbol | Company | Correlation |
|---|---|---|
| CDNS | Cadence Design SystemsSERVICES-PREPACKAGED SOFTWARE | 0.64 |
| ESLG | Eventide Large Cap Growth ETF | 0.57 |
| PCLG | Polen Focus Growth ETF | 0.55 |
| STEN | iShares Large Cap 10% Target Buffer Sep ETF | 0.53 |
| BFLB | BufferLABS US Equity Dynamic Buffer ETF | 0.52 |
Most inversely correlated with SNPS
| Symbol | Company | Correlation |
|---|---|---|
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | -0.44 |
| JBDI | JBDI Holdings Limited Ordinary Shares | -0.42 |
| TTXD | Direxion Daily Technology Top 5 Bear 2X ETF | -0.41 |
| WLDS | Wearable Devices Ltd. Ordinary Share | -0.40 |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.37 |
Frequently asked questions about SNPS correlations
- Which stocks are most correlated with SNPS?
- Based on one year of daily returns, the stocks most correlated with Synopsys Inc (SNPS) are CDNS (0.64), ESLG (0.57) and PCLG (0.55). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with SNPS?
- Over the past year, the stocks most inversely correlated with Synopsys Inc (SNPS) are TSXD (-0.44), JBDI (-0.42) and TTXD (-0.41). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these SNPS correlations calculated?
- We compute the correlation of daily returns between SNPS and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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