AMGN vs. NVS
AMGN (Amgen Inc.) and NVS (Novartis AG) are both stocks. Both operate in the Drug Manufacturers - General industry within the Healthcare sector. Over the past 10 years, AMGN returned 12.08%/yr vs 11.14%/yr for NVS. At a 0.34 correlation, their price movements are largely independent.
Performance
AMGN vs. NVS - Performance Comparison
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Returns By Period
In the year-to-date period, AMGN achieves a 10.10% return, which is significantly lower than NVS's 14.40% return. Over the past 10 years, AMGN has outperformed NVS with an annualized return of 12.08%, while NVS has yielded a comparatively lower 11.14% annualized return.
AMGN
- 1D
- 0.32%
- 1M
- 6.37%
- YTD
- 10.10%
- 6M
- 13.41%
- 1Y
- 23.07%
- 3Y*
- 20.61%
- 5Y*
- 11.36%
- 10Y*
- 12.08%
NVS
- 1D
- -0.55%
- 1M
- 2.22%
- YTD
- 14.40%
- 6M
- 18.98%
- 1Y
- 30.60%
- 3Y*
- 19.57%
- 5Y*
- 14.77%
- 10Y*
- 11.14%
AMGN vs. NVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AMGN Amgen Inc. | 10.10% | 29.67% | -6.77% | 13.46% | 20.43% | 0.87% | -1.99% | 27.60% | 15.23% | 22.27% |
NVS Novartis AG | 14.40% | 46.95% | 0.02% | 16.14% | 8.06% | -3.65% | 3.34% | 13.92% | 5.95% | 19.42% |
Correlation
The correlation between AMGN and NVS is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 1996 | 0.34 |
Over the past year, AMGN and NVS have become more correlated (0.60) than their long-term average of 0.34, meaning their price movements have been converging.
Fundamentals
AMGN:
$193.23B
NVS:
$293.28B
AMGN:
$14.38
NVS:
$6.99
AMGN:
24.70
NVS:
21.90
AMGN:
1.42
NVS:
1.48
AMGN:
5.17
NVS:
5.29
AMGN:
21.03
NVS:
7.62
AMGN:
$37.24B
NVS:
$56.05B
AMGN:
$26.61B
NVS:
$42.19B
AMGN:
$17.27B
NVS:
$22.40B
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Return for Risk
AMGN vs. NVS — Risk / Return Rank
AMGN
NVS
AMGN vs. NVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amgen Inc. (AMGN) 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.
| AMGN | NVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.26 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.43 | -1.03 |
| Martin ratioReturn relative to average drawdown | 3.22 | 5.88 | -2.66 |
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Drawdowns
AMGN vs. NVS - Drawdown Comparison
The maximum AMGN drawdown since its inception was -63.48%, which is greater than NVS's maximum drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for AMGN and NVS.
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Drawdown Indicators
| AMGN | NVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.48% | -42.10% | -21.38% |
Max Drawdown (1Y)Largest decline over 1 year | -16.57% | -12.65% | -3.92% |
Max Drawdown (3Y)Largest decline over 3 years | -22.74% | -19.95% | -2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -20.42% | -4.44% |
Max Drawdown (10Y)Largest decline over 10 years | -24.86% | -26.03% | +1.17% |
Current DrawdownCurrent decline from peak | -7.80% | -6.46% | -1.34% |
Average DrawdownAverage peak-to-trough decline | -16.77% | -10.92% | -5.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.19% | 5.23% | +1.96% |
Volatility
AMGN vs. NVS - Volatility Comparison
Amgen Inc. (AMGN) has a higher volatility of 7.92% compared to Novartis AG (NVS) at 7.18%. This indicates that AMGN'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
| AMGN | NVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.92% | 7.18% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 19.22% | 14.96% | +4.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.79% | 21.02% | +6.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.97% | 18.89% | +5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.86% | 19.64% | +5.22% |
Dividends
AMGN vs. NVS - Dividend Comparison
AMGN's dividend yield for the trailing twelve months is around 2.76%, less than NVS's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMGN Amgen Inc. | 2.76% | 2.91% | 3.45% | 2.96% | 2.95% | 3.13% | 2.78% | 2.41% | 2.71% | 2.65% | 2.74% | 1.95% |
NVS Novartis AG | 3.12% | 2.90% | 3.84% | 3.44% | 3.70% | 3.86% | 3.22% | 3.03% | 3.47% | 3.24% | 3.73% | 3.10% |
Financials
AMGN vs. NVS - Financials Comparison
This section allows you to compare key financial metrics between Amgen 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
AMGN vs. NVS - Profitability Comparison
AMGN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Amgen Inc. reported a gross profit of 5.87B and revenue of 8.62B. Therefore, the gross margin over that period was 68.2%.
NVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Novartis AG reported a gross profit of 10.07B and revenue of 13.52B. Therefore, the gross margin over that period was 74.4%.
AMGN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Amgen Inc. reported an operating income of 2.67B and revenue of 8.62B, resulting in an operating margin of 30.9%.
NVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Novartis AG reported an operating income of 4.24B and revenue of 13.52B, resulting in an operating margin of 31.3%.
AMGN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Amgen Inc. reported a net income of 1.82B and revenue of 8.62B, resulting in a net margin of 21.1%.
NVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Novartis AG reported a net income of 3.16B and revenue of 13.52B, resulting in a net margin of 23.3%.
Frequently Asked Questions
AMGN and NVS have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMGN has higher volatility (7.92%) compared to NVS (7.18%). In terms of maximum drawdown, AMGN dropped -63.48% vs NVS's -42.10%.
NVS currently has the higher Sharpe Ratio (1.47 vs 0.84), 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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