ALC vs. NVS
ALC (Alcon Inc.) and NVS (Novartis AG) are both stocks. Both are in the Healthcare sector — ALC in Medical Instruments & Supplies, NVS in Drug Manufacturers - General. Over the past 5 years, ALC returned -0.54%/yr vs 15.30%/yr for NVS. Their 0.44 correlation means their historical movements had little consistent relationship.
Performance
ALC vs. NVS - Performance Comparison
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Returns By Period
In the year-to-date period, ALC achieves a -11.56% return, which is significantly lower than NVS's 16.71% return.
ALC
- 1D
- -0.96%
- 1M
- -1.03%
- 6M
- -13.93%
- YTD
- -11.56%
- 1Y
- -20.68%
- 3Y*
- -5.58%
- 5Y*
- -0.54%
- 10Y*
- —
- ALL TIME*
- 2.81%
NVS
- 1D
- -1.45%
- 1M
- -2.35%
- 6M
- 8.22%
- YTD
- 16.71%
- 1Y
- 39.55%
- 3Y*
- 18.79%
- 5Y*
- 15.30%
- 10Y*
- 10.49%
- ALL TIME*
- 9.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
ALC Alcon Inc. | $158.18M | $157.97M | $154.82M |
NVS Novartis AG | $287.25M | $275.96M | $277.92M |
ALC vs. NVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ALC Alcon Inc. | -11.56% | -6.50% | 9.02% | 14.32% | -21.09% | 32.23% | 16.63% | -2.38% |
NVS Novartis AG | 16.71% | 46.95% | 0.02% | 16.14% | 8.06% | -3.65% | 3.34% | -0.25% |
Correlation
The correlation between ALC and NVS is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2019 | 0.44 |
The correlation between ALC and NVS has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.
Fundamentals
ALC:
$33.62B
NVS:
$296.80B
ALC:
$1.65
NVS:
$6.63
ALC:
41.67
NVS:
23.56
ALC:
0.93
NVS:
1.59
ALC:
3.21
NVS:
5.40
ALC:
1.52
NVS:
7.19
ALC:
$10.58B
NVS:
$55.63B
ALC:
$5.81B
NVS:
$41.41B
ALC:
$2.12B
NVS:
$22.26B
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Return for Risk
ALC vs. NVS — Risk / Return Rank
ALC
NVS
ALC vs. NVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alcon Inc. (ALC) and Novartis AG (NVS). 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.
| ALC | NVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.50 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.33 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 3.29 | -3.97 |
| Martin ratioReturn relative to average drawdown | -1.21 | 7.73 | -8.94 |
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Drawdowns
ALC vs. NVS - Drawdown Comparison
The maximum ALC drawdown since its inception was -37.33%, smaller than the maximum NVS drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for ALC and NVS.
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Drawdown Indicators
| ALC | NVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.33% | -42.10% | +4.77% |
Max Drawdown (1Y)Largest decline over 1 year | -30.42% | -12.65% | -17.77% |
Max Drawdown (3Y)Largest decline over 3 years | -37.33% | -19.95% | -17.38% |
Max Drawdown (5Y)Largest decline over 5 years | -37.33% | -20.42% | -16.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.03% | — |
Current DrawdownCurrent decline from peak | -30.34% | -4.58% | -25.76% |
Average DrawdownAverage peak-to-trough decline | -12.12% | -10.90% | -1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.88% | 5.38% | +11.50% |
Volatility
ALC vs. NVS - Volatility Comparison
Alcon Inc. (ALC) has a higher volatility of 9.26% compared to Novartis AG (NVS) at 7.89%. This indicates that ALC's price experiences larger fluctuations and is considered to be riskier than NVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALC | NVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.26% | 7.89% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 22.45% | 16.05% | +6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.27% | 21.74% | +7.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.29% | 19.28% | +8.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.89% | 19.73% | +8.16% |
Dividends
ALC vs. NVS - Dividend Comparison
ALC's dividend yield for the trailing twelve months is around 1.17%, less than NVS's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALC Alcon Inc. | 1.17% | 0.84% | 0.31% | 0.30% | 0.30% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NVS Novartis AG | 3.06% | 2.90% | 3.84% | 3.44% | 3.70% | 3.86% | 3.22% | 3.03% | 3.47% | 3.24% | 3.73% | 3.10% |
Financials
ALC vs. NVS - Financials Comparison
This section allows you to compare key financial metrics between Alcon Inc. and Novartis AG. 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
ALC vs. NVS - Profitability Comparison
ALC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Alcon Inc. reported a gross profit of 1.50B and revenue of 2.65B. Therefore, the gross margin over that period was 56.4%.
NVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Novartis AG reported a gross profit of 10.74B and revenue of 14.42B. Therefore, the gross margin over that period was 74.5%.
ALC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Alcon Inc. reported an operating income of 410.86M and revenue of 2.65B, resulting in an operating margin of 15.5%.
NVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Novartis AG reported an operating income of 4.74B and revenue of 14.42B, resulting in an operating margin of 32.8%.
ALC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Alcon Inc. reported a net income of 185.33M and revenue of 2.65B, resulting in a net margin of 7.0%.
NVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Novartis AG reported a net income of 3.27B and revenue of 14.42B, resulting in a net margin of 22.7%.
Frequently Asked Questions
ALC and NVS have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALC has higher volatility (9.26%) compared to NVS (7.89%). In terms of maximum drawdown, ALC dropped -37.33% vs NVS's -42.10%.
NVS currently has the higher Sharpe Ratio (1.93 vs -0.70), 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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