AZN vs. NVS
AZN (AstraZeneca PLC) and NVS (Novartis AG) are both stocks. Both operate in the Drug Manufacturers - General industry within the Healthcare sector. Over the past 10 years, AZN returned 14.32%/yr vs 10.52%/yr for NVS. At a 0.48 correlation, their price movements are largely independent.
Performance
AZN vs. NVS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AZN achieves a -4.71% return, which is significantly lower than NVS's 15.14% return. Over the past 10 years, AZN has outperformed NVS with an annualized return of 14.32%, while NVS has yielded a comparatively lower 10.52% annualized return.
AZN
- 1D
- -3.85%
- 1M
- -4.11%
- 6M
- -7.45%
- YTD
- -4.71%
- 1Y
- 22.84%
- 3Y*
- 12.36%
- 5Y*
- 10.06%
- 10Y*
- 14.32%
NVS
- 1D
- -0.37%
- 1M
- 4.00%
- 6M
- 12.15%
- YTD
- 15.14%
- 1Y
- 28.29%
- 3Y*
- 20.71%
- 5Y*
- 14.90%
- 10Y*
- 10.52%
AZN vs. NVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AZN AstraZeneca PLC | -4.71% | 43.30% | -0.62% | 1.44% | 19.14% | 19.66% | 3.12% | 35.68% | 13.86% | 33.10% |
NVS Novartis AG | 15.14% | 46.95% | 0.02% | 16.14% | 8.06% | -3.65% | 3.34% | 13.92% | 5.95% | 19.42% |
Correlation
The correlation between AZN and NVS is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 1996 | 0.48 |
Over the past year, AZN and NVS have become more correlated (0.69) than their long-term average of 0.48, meaning their price movements have been converging.
Fundamentals
AZN:
$266.15B
NVS:
$293.94B
AZN:
$6.65
NVS:
$7.02
AZN:
25.79
NVS:
21.95
AZN:
0.04
NVS:
1.48
AZN:
4.43
NVS:
5.30
AZN:
5.66
NVS:
7.66
AZN:
$60.44B
NVS:
$56.05B
AZN:
$49.37B
NVS:
$42.19B
AZN:
$20.47B
NVS:
$22.40B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AZN vs. NVS — Risk / Return Rank
AZN
NVS
AZN vs. NVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AstraZeneca PLC (AZN) 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.
| AZN | NVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.23 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 2.25 | -0.94 |
| Martin ratioReturn relative to average drawdown | 3.50 | 5.35 | -1.85 |
Loading charts...
Drawdowns
AZN vs. NVS - Drawdown Comparison
The maximum AZN drawdown since its inception was -48.94%, which is greater than NVS's maximum drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for AZN and NVS.
Loading charts...
Drawdown Indicators
| AZN | NVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.94% | -42.10% | -6.84% |
Max Drawdown (1Y)Largest decline over 1 year | -17.67% | -12.65% | -5.02% |
Max Drawdown (3Y)Largest decline over 3 years | -27.87% | -19.95% | -7.92% |
Max Drawdown (5Y)Largest decline over 5 years | -27.87% | -20.42% | -7.45% |
Max Drawdown (10Y)Largest decline over 10 years | -27.87% | -26.03% | -1.84% |
Current DrawdownCurrent decline from peak | -17.67% | -5.86% | -11.81% |
Average DrawdownAverage peak-to-trough decline | -11.37% | -10.91% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.56% | 5.45% | +1.11% |
Volatility
AZN vs. NVS - Volatility Comparison
AstraZeneca PLC (AZN) has a higher volatility of 12.07% compared to Novartis AG (NVS) at 8.17%. This indicates that AZN'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.
Loading charts...
Volatility by Period
| AZN | NVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 8.17% | +3.90% |
Volatility (6M)Calculated over the trailing 6-month period | 20.28% | 15.98% | +4.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.52% | 21.60% | +5.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.53% | 19.12% | +5.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.05% | 19.66% | +5.39% |
Dividends
AZN vs. NVS - Dividend Comparison
AZN's dividend yield for the trailing twelve months is around 3.10%, which matches NVS's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AZN AstraZeneca PLC | 3.10% | 1.70% | 2.27% | 2.15% | 2.12% | 2.35% | 2.80% | 2.81% | 3.69% | 3.95% | 5.01% | 4.06% |
NVS Novartis AG | 3.10% | 2.90% | 3.84% | 3.44% | 3.70% | 3.86% | 3.22% | 3.03% | 3.47% | 3.24% | 3.73% | 3.10% |
Financials
AZN vs. NVS - Financials Comparison
This section allows you to compare key financial metrics between AstraZeneca PLC 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
AZN vs. NVS - Profitability Comparison
AZN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, AstraZeneca PLC reported a gross profit of 12.61B and revenue of 15.29B. Therefore, the gross margin over that period was 82.5%.
NVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.
AZN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, AstraZeneca PLC reported an operating income of 4.25B and revenue of 15.29B, resulting in an operating margin of 27.8%.
NVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Novartis AG reported an operating income of 4.24B and revenue of 13.52B, resulting in an operating margin of 31.3%.
AZN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, AstraZeneca PLC reported a net income of 3.08B and revenue of 15.29B, resulting in a net margin of 20.2%.
NVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 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
AZN and NVS have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AZN has higher volatility (12.07%) compared to NVS (8.17%). In terms of maximum drawdown, AZN dropped -48.94% vs NVS's -42.10%.
NVS currently has the higher Sharpe Ratio (1.32 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.
Find the right allocation for AZN and NVS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer