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ARGX vs. NOV.DE
Performance
Return for Risk
Drawdowns
Volatility
Dividends
Financials

ARGX vs. NOV.DE

Last updated Jun 13, 2026

ARGX (argenx SE) and NOV.DE (Novo Nordisk A/S) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 5 years, ARGX returned 23.21%/yr vs 19.17%/yr for NOV.DE. At a 0.25 correlation, their price movements are largely independent.

Performance

ARGX vs. NOV.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in argenx SE (ARGX) and Novo Nordisk A/S (NOV.DE). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ARGX is traded in USD, while NOV.DE is traded in EUR. To make them comparable, the NOV.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ARGX achieves a 6.25% return, which is significantly higher than NOV.DE's -11.73% return.

ARGX

1D
-0.60%
1M
11.79%
YTD
6.25%
6M
1.77%
1Y
54.62%
3Y*
31.12%
5Y*
23.21%
10Y*
—

NOV.DE

1D
0.10%
1M
-1.12%
YTD
-11.73%
6M
-9.41%
1Y
-42.22%
3Y*
6.73%
5Y*
19.17%
10Y*
17.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ARGX vs. NOV.DE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ARGX
argenx SE		6.25%36.74%61.66%0.42%8.18%19.08%83.21%67.09%52.15%252.74%
NOV.DE
Novo Nordisk A/S		-11.73%-38.90%-14.63%211.15%25.23%62.99%27.33%36.04%-11.70%37.09%

Correlation

The correlation between ARGX and NOV.DE 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

0.22

Correlation (5Y)
Calculated over the trailing 5-year period

0.26

Correlation (All Time)
Calculated using the full available price history since May 18, 2017

0.25

The correlation between ARGX and NOV.DE shifts across timeframes, from 0.14 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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argenx SE

Novo Nordisk A/S

Often compared with ARGX:
ARGX vs. SPYARGX vs. SCHDARGX vs. VOOARGX vs. ARESARGX vs. WMARGX vs. ALGNARGX vs. VTSAX
Often compared with NOV.DE:
NOV.DE vs. NVONOV.DE vs. NOVO-B.CONOV.DE vs. VOONOV.DE vs. 4AB.DENOV.DE vs. LLYNOV.DE vs. FICONOV.DE vs. CSP1.L

Return for Risk

ARGX vs. NOV.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ARGX
ARGX Risk / Return Rank: 8181
Overall Rank
ARGX Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
ARGX Sortino Ratio Rank: 8585
Sortino Ratio Rank
ARGX Omega Ratio Rank: 8282
Omega Ratio Rank
ARGX Calmar Ratio Rank: 7575
Calmar Ratio Rank
ARGX Martin Ratio Rank: 7777
Martin Ratio Rank
NOV.DE
NOV.DE Risk / Return Rank: 1212
Overall Rank
NOV.DE Sharpe Ratio Rank: 99
Sharpe Ratio Rank
NOV.DE Sortino Ratio Rank: 1111
Sortino Ratio Rank
NOV.DE Omega Ratio Rank: 1010
Omega Ratio Rank
NOV.DE Calmar Ratio Rank: 1212
Calmar Ratio Rank
NOV.DE Martin Ratio Rank: 1717
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARGX vs. NOV.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for argenx SE (ARGX) and Novo Nordisk A/S (NOV.DE). 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.

ARGXNOV.DEDifference
Sharpe ratioReturn per unit of total volatility
1.71
-0.84

+2.54

Sortino ratioReturn per unit of downside risk
2.52
-1.05

+3.57

Omega ratioGain probability vs. loss probability

1.31

0.85

+0.45

Calmar ratioReturn relative to maximum drawdown

1.84

-0.80

+2.64

Martin ratioReturn relative to average drawdown

4.89

-1.18

+6.06

ARGX vs. NOV.DE - Sharpe Ratio Comparison

The current ARGX Sharpe Ratio is 1.71, which is higher than the NOV.DE Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of ARGX and NOV.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ARGX vs. NOV.DE - Drawdown Comparison

The maximum ARGX drawdown since its inception was -38.20%, smaller than the maximum NOV.DE drawdown of -74.44%. Use the drawdown chart below to compare losses from any high point for ARGX and NOV.DE.

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Drawdown Indicators

ARGXNOV.DEDifference

Max Drawdown

Largest peak-to-trough decline

-38.20%

-74.44%

+36.24%

Max Drawdown (1Y)

Largest decline over 1 year

-28.58%

-53.90%

+25.32%

Max Drawdown (3Y)

Largest decline over 3 years

-38.20%

-74.44%

+36.24%

Max Drawdown (5Y)

Largest decline over 5 years

-38.20%

-74.44%

+36.24%

Max Drawdown (10Y)

Largest decline over 10 years

—

-74.44%

—

Current Drawdown

Current decline from peak

-3.88%

-67.97%

+64.09%

Average Drawdown

Average peak-to-trough decline

-11.08%

-12.36%

+1.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.79%

34.98%

-24.19%

Volatility

ARGX vs. NOV.DE - Volatility Comparison

argenx SE (ARGX) has a higher volatility of 11.41% compared to Novo Nordisk A/S (NOV.DE) at 9.91%. This indicates that ARGX's price experiences larger fluctuations and is considered to be riskier than NOV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ARGXNOV.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.41%

9.91%

+1.50%

Volatility (6M)

Calculated over the trailing 6-month period

22.41%

38.82%

-16.41%

Volatility (1Y)

Calculated over the trailing 1-year period

30.80%

51.60%

-20.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

38.55%

57.41%

-18.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

51.52%

44.54%

+6.98%

Dividends

ARGX vs. NOV.DE - Dividend Comparison

ARGX has not paid dividends to shareholders, while NOV.DE's dividend yield for the trailing twelve months is around 4.10%.

PositionTTM20252024202320222021202020192018201720162015
ARGX
argenx SE		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
NOV.DE
Novo Nordisk A/S		4.10%3.54%1.59%1.02%2.36%2.54%3.97%4.18%5.34%4.55%7.38%2.50%

Financials

ARGX vs. NOV.DE - Financials Comparison

This section allows you to compare key financial metrics between argenx SE 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.

Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities

Please note, different currencies. ARGX values in USD, NOV.DE values in EUR

Frequently Asked Questions

ARGX and NOV.DE 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.

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