COVTY vs. NVO
COVTY (Covestro ADR) and NVO (Novo Nordisk A/S) are both stocks. COVTY operates in Specialty Chemicals (Basic Materials), while NVO operates in Drug Manufacturers - General (Healthcare). Over the past 5 years, COVTY returned 2.12%/yr vs 5.04%/yr for NVO. At a 0.12 correlation, their price movements are largely independent.
Performance
COVTY vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, COVTY achieves a -1.07% return, which is significantly higher than NVO's -3.09% return.
COVTY
- 1D
- -1.13%
- 1M
- -4.44%
- YTD
- -1.07%
- 6M
- -3.32%
- 1Y
- -5.88%
- 3Y*
- 7.00%
- 5Y*
- 2.12%
- 10Y*
- —
NVO
- 1D
- 0.49%
- 1M
- 7.81%
- YTD
- -3.09%
- 6M
- -6.19%
- 1Y
- -25.97%
- 3Y*
- -13.17%
- 5Y*
- 5.04%
- 10Y*
- 8.71%
COVTY vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COVTY Covestro ADR | -1.07% | 15.75% | -0.88% | 50.21% | -31.89% | 3.10% | 39.29% | -5.98% | -50.89% | 54.46% |
NVO Novo Nordisk A/S | -3.09% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between COVTY and NVO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2016 | 0.12 |
The correlation between COVTY and NVO shifts across timeframes, from -0.02 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
Fundamentals
COVTY:
$12.66B
NVO:
$211.94B
COVTY:
-€1.69
NVO:
DKK 27.42
COVTY:
0.86
NVO:
4.25
COVTY:
1.59
NVO:
6.87
COVTY:
€12.91B
NVO:
DKK 327.80B
COVTY:
€1.71B
NVO:
DKK 268.30B
COVTY:
€733.54M
NVO:
DKK 181.54B
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Return for Risk
COVTY vs. NVO — Risk / Return Rank
COVTY
NVO
COVTY vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Covestro ADR (COVTY) 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.
| COVTY | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.94 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | -0.53 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.43 | -0.84 | -0.59 |
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Drawdowns
COVTY vs. NVO - Drawdown Comparison
The maximum COVTY drawdown since its inception was -77.54%, roughly equal to the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for COVTY and NVO.
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Drawdown Indicators
| COVTY | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.54% | -74.70% | -2.84% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -49.17% | +38.94% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -74.70% | +58.51% |
Max Drawdown (5Y)Largest decline over 5 years | -56.79% | -74.70% | +17.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.70% | — |
Current DrawdownCurrent decline from peak | -35.62% | -65.38% | +29.76% |
Average DrawdownAverage peak-to-trough decline | -42.01% | -17.82% | -24.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.11% | 30.98% | -26.87% |
Volatility
COVTY vs. NVO - Volatility Comparison
The current volatility for Covestro ADR (COVTY) is 7.73%, while Novo Nordisk A/S (NVO) has a volatility of 11.82%. This indicates that COVTY experiences smaller price fluctuations and is considered to be less risky 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
| COVTY | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 11.82% | -4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 18.66% | 38.40% | -19.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.60% | 51.76% | -27.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.84% | 38.48% | -7.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.33% | 32.57% | +1.76% |
Dividends
COVTY vs. NVO - Dividend Comparison
COVTY has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 3.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COVTY Covestro ADR | 0.00% | 0.00% | 0.00% | 0.00% | 9.64% | 2.53% | 2.23% | 4.26% | 3.92% | 2.44% | 0.00% | 0.00% |
NVO Novo Nordisk A/S | 3.78% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Financials
COVTY vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between Covestro ADR 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
COVTY vs. NVO - Profitability Comparison
COVTY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Covestro ADR reported a gross profit of 210.01M and revenue of 2.89B. Therefore, the gross margin over that period was 7.3%.
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%.
COVTY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Covestro ADR reported an operating income of -317.00M and revenue of 2.89B, resulting in an operating margin of -11.0%.
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%.
COVTY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Covestro ADR reported a net income of -374.46M and revenue of 2.89B, resulting in a net margin of -13.0%.
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
COVTY and NVO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVO has higher volatility (11.82%) compared to COVTY (7.73%). In terms of maximum drawdown, COVTY dropped -77.54% vs NVO's -74.70%.
COVTY currently has the higher Sharpe Ratio (-0.24 vs -0.51), 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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