AJG vs. NVO
AJG (Arthur J. Gallagher & Co.) and NVO (Novo Nordisk A/S) are both stocks. AJG operates in Insurance Brokers (Financial Services), while NVO operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, AJG returned 19.74%/yr vs 8.18%/yr for NVO. At a 0.17 correlation, their price movements are largely independent.
Performance
AJG vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, AJG achieves a -1.36% return, which is significantly lower than NVO's 0.91% return. Over the past 10 years, AJG has outperformed NVO with an annualized return of 19.74%, while NVO has yielded a comparatively lower 8.18% annualized return.
AJG
- 1D
- -0.09%
- 1M
- 18.50%
- 6M
- -1.25%
- YTD
- -1.36%
- 1Y
- -18.08%
- 3Y*
- 6.09%
- 5Y*
- 13.67%
- 10Y*
- 19.74%
- ALL TIME*
- 12.61%
NVO
- 1D
- -1.41%
- 1M
- 14.86%
- 6M
- -17.63%
- YTD
- 0.91%
- 1Y
- -19.26%
- 3Y*
- -13.51%
- 5Y*
- 4.43%
- 10Y*
- 8.18%
- ALL TIME*
- 14.52%
AJG vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | -1.36% | -8.03% | 27.34% | 20.51% | 12.44% | 39.02% | 32.12% | 31.79% | 19.19% | 25.04% |
NVO Novo Nordisk A/S | 0.91% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between AJG and NVO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 1984 | 0.17 |
Fundamentals
AJG:
$65.18B
NVO:
$220.46B
AJG:
$5.74
NVO:
DKK 27.42
AJG:
44.21
NVO:
11.83
AJG:
4.58
NVO:
0.51
AJG:
4.74
NVO:
4.40
AJG:
$13.94B
NVO:
DKK 327.80B
AJG:
$7.63B
NVO:
DKK 268.30B
AJG:
$3.66B
NVO:
DKK 181.54B
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Return for Risk
AJG vs. NVO — Risk / Return Rank
AJG
NVO
AJG vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arthur J. Gallagher & Co. (AJG) and Novo Nordisk A/S (NVO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AJG | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.97 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | -0.39 | -0.08 |
| Martin ratioReturn relative to average drawdown | -0.79 | -0.61 | -0.18 |
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Drawdowns
AJG vs. NVO - Drawdown Comparison
The maximum AJG drawdown since its inception was -57.49%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for AJG and NVO.
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Drawdown Indicators
| AJG | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.49% | -74.70% | +17.21% |
Max Drawdown (1Y)Largest decline over 1 year | -38.59% | -49.17% | +10.58% |
Max Drawdown (3Y)Largest decline over 3 years | -44.40% | -74.70% | +30.30% |
Max Drawdown (5Y)Largest decline over 5 years | -44.40% | -74.70% | +30.30% |
Max Drawdown (10Y)Largest decline over 10 years | -44.40% | -74.70% | +30.30% |
Current DrawdownCurrent decline from peak | -26.31% | -63.95% | +37.64% |
Average DrawdownAverage peak-to-trough decline | -12.87% | -17.89% | +5.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.05% | 31.75% | -8.70% |
Volatility
AJG vs. NVO - Volatility Comparison
Arthur J. Gallagher & Co. (AJG) has a higher volatility of 10.92% compared to Novo Nordisk A/S (NVO) at 9.48%. This indicates that AJG's price experiences larger fluctuations and is considered to be riskier than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AJG | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.92% | 9.48% | +1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 24.11% | 37.43% | -13.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.72% | 51.79% | -22.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.42% | 38.58% | -15.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.24% | 32.63% | -9.39% |
Dividends
AJG vs. NVO - Dividend Comparison
AJG's dividend yield for the trailing twelve months is around 1.06%, less than NVO's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | 1.06% | 1.00% | 0.85% | 0.98% | 1.08% | 1.13% | 1.46% | 1.81% | 2.23% | 2.47% | 2.93% | 3.62% |
NVO Novo Nordisk A/S | 3.63% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Financials
AJG vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between Arthur J. Gallagher & Co. and Novo Nordisk A/S. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AJG vs. NVO - Profitability Comparison
AJG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Arthur J. Gallagher & Co. reported a gross profit of 1.42B and revenue of 3.63B. Therefore, the gross margin over that period was 39.1%.
NVO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Novo Nordisk A/S reported a gross profit of 83.23B and revenue of 96.82B. Therefore, the gross margin over that period was 86.0%.
AJG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Arthur J. Gallagher & Co. reported an operating income of 341.00M and revenue of 3.63B, resulting in an operating margin of 9.4%.
NVO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Novo Nordisk A/S reported an operating income of 59.62B and revenue of 96.82B, resulting in an operating margin of 61.6%.
AJG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Arthur J. Gallagher & Co. reported a net income of 151.00M and revenue of 3.63B, resulting in a net margin of 4.2%.
NVO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Novo Nordisk A/S reported a net income of 48.56B and revenue of 96.82B, resulting in a net margin of 50.2%.
Frequently Asked Questions
AJG and NVO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AJG has higher volatility (10.92%) compared to NVO (9.48%). In terms of maximum drawdown, AJG dropped -57.49% vs NVO's -74.70%.
NVO currently has the higher Sharpe Ratio (-0.37 vs -0.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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