ARM vs. NVO
ARM (Arm Holdings plc American Depositary Shares) and NVO (Novo Nordisk A/S) are both stocks. ARM operates in Semiconductors (Technology), while NVO operates in Drug Manufacturers - General (Healthcare). Over the past year, ARM returned 180.94% vs -42.47% for NVO. At a 0.20 correlation, their price movements are largely independent.
Performance
ARM vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, ARM achieves a 248.38% return, which is significantly higher than NVO's -10.74% return.
ARM
- 1D
- 11.27%
- 1M
- 66.66%
- YTD
- 248.38%
- 6M
- 190.94%
- 1Y
- 180.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVO
- 1D
- -0.18%
- 1M
- -4.19%
- YTD
- -10.74%
- 6M
- -9.50%
- 1Y
- -42.47%
- 3Y*
- -15.59%
- 5Y*
- 2.92%
- 10Y*
- 7.56%
ARM vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ARM Arm Holdings plc American Depositary Shares | 248.38% | -11.39% | 64.16% | 33.95% |
NVO Novo Nordisk A/S | -10.74% | -39.22% | -15.93% | 7.41% |
Correlation
The correlation between ARM and NVO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023 | 0.20 |
Fundamentals
ARM:
$406.71B
NVO:
$195.21B
ARM:
$0.85
NVO:
DKK 27.42
ARM:
449.79
NVO:
10.34
ARM:
15.43
NVO:
0.44
ARM:
82.64
NVO:
3.85
ARM:
49.08
NVO:
6.21
ARM:
$4.92B
NVO:
DKK 327.80B
ARM:
$4.66B
NVO:
DKK 268.30B
ARM:
$1.37B
NVO:
DKK 181.54B
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Return for Risk
ARM vs. NVO — Risk / Return Rank
ARM
NVO
ARM vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arm Holdings plc American Depositary Shares (ARM) 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.
| ARM | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.39 | ||
| Sortino ratioReturn per unit of downside risk | +4.21 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.85 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 4.24 | -0.80 | +5.04 |
| Martin ratioReturn relative to average drawdown | 8.33 | -1.18 | +9.51 |
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Drawdowns
ARM vs. NVO - Drawdown Comparison
The maximum ARM drawdown since its inception was -53.97%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for ARM and NVO.
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Drawdown Indicators
| ARM | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.97% | -74.70% | +20.73% |
Max Drawdown (1Y)Largest decline over 1 year | -41.47% | -54.34% | +12.87% |
Max Drawdown (3Y)Largest decline over 3 years | — | -74.70% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -74.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.70% | — |
Current DrawdownCurrent decline from peak | -7.53% | -68.11% | +60.58% |
Average DrawdownAverage peak-to-trough decline | -21.33% | -17.79% | -3.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.07% | 37.62% | -16.55% |
Volatility
ARM vs. NVO - Volatility Comparison
Arm Holdings plc American Depositary Shares (ARM) has a higher volatility of 37.22% compared to Novo Nordisk A/S (NVO) at 10.68%. This indicates that ARM'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
| ARM | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 37.22% | 10.68% | +26.54% |
Volatility (6M)Calculated over the trailing 6-month period | 58.04% | 38.04% | +20.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.92% | 51.88% | +17.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.58% | 38.33% | +38.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 76.58% | 32.56% | +44.02% |
Dividends
ARM vs. NVO - Dividend Comparison
ARM has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 4.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARM Arm Holdings plc American Depositary Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NVO Novo Nordisk A/S | 4.11% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Financials
ARM vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between Arm Holdings plc American Depositary Shares 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
ARM vs. NVO - Profitability Comparison
ARM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arm Holdings plc American Depositary Shares reported a gross profit of 1.39B and revenue of 1.49B. Therefore, the gross margin over that period was 93.1%.
NVO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.
ARM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arm Holdings plc American Depositary Shares reported an operating income of 440.00M and revenue of 1.49B, resulting in an operating margin of 29.5%.
NVO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 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%.
ARM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arm Holdings plc American Depositary Shares reported a net income of 313.00M and revenue of 1.49B, resulting in a net margin of 21.0%.
NVO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 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
ARM and NVO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARM has higher volatility (37.22%) compared to NVO (10.68%). In terms of maximum drawdown, ARM dropped -53.97% vs NVO's -74.70%.
ARM currently has the higher Sharpe Ratio (2.55 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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