DHR vs. NOVO-B.CO

Last updated Jun 9, 2026

DHR (Danaher Corporation) and NOVO-B.CO (Novo Nordisk A/S) are both stocks. Both are in the Healthcare sector — DHR in Diagnostics & Research, NOVO-B.CO in Biotechnology. Over the past 10 years, DHR returned 11.19%/yr vs 16.29%/yr for NOVO-B.CO. At a 0.20 correlation, their price movements are largely independent.

Performance

DHR vs. NOVO-B.CO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Danaher Corporation (DHR) and Novo Nordisk A/S (NOVO-B.CO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DHR is traded in USD, while NOVO-B.CO is traded in DKK. To make them comparable, the NOVO-B.CO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, DHR achieves a -19.66% return, which is significantly lower than NOVO-B.CO's -14.86% return. Over the past 10 years, DHR has underperformed NOVO-B.CO with an annualized return of 11.19%, while NOVO-B.CO has yielded a comparatively higher 16.29% annualized return.

DHR

• 1D: -0.42%
• 1M: 7.23%
• YTD: -19.66%
• 6M: -17.95%
• 1Y: -5.73%
• 3Y*: -3.67%
• 5Y*: -2.52%
• 10Y*: 11.19%

NOVO-B.CO

• 1D: 0.00%
• 1M: -8.03%
• YTD: -14.86%
• 6M: -6.49%
• 1Y: -41.18%
• 3Y*: 5.14%
• 5Y*: 18.06%
• 10Y*: 16.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DHR vs. NOVO-B.CO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHR Danaher Corporation	-19.66%	0.35%	-0.35%	-1.22%	-19.02%	48.57%	45.34%	49.55%	11.80%	20.01%
NOVO-B.CO Novo Nordisk A/S	-14.86%	-39.54%	-15.04%	214.95%	23.90%	65.39%	27.16%	32.88%	-10.64%	58.82%

Correlation

The correlation between DHR and NOVO-B.CO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Sep 3, 2007	0.20

Return for Risk

DHR vs. NOVO-B.CO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DHR

DHR Risk / Return Rank: 32
DHR Sharpe Ratio Rank: 33
DHR Sortino Ratio Rank: 29
DHR Omega Ratio Rank: 29
DHR Calmar Ratio Rank: 37
DHR Martin Ratio Rank: 34

NOVO-B.CO

NOVO-B.CO Risk / Return Rank: 13
NOVO-B.CO Sharpe Ratio Rank: 10
NOVO-B.CO Sortino Ratio Rank: 13
NOVO-B.CO Omega Ratio Rank: 12
NOVO-B.CO Calmar Ratio Rank: 12
NOVO-B.CO Martin Ratio Rank: 17

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.

DHR vs. NOVO-B.CO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Danaher Corporation (DHR) and Novo Nordisk A/S (NOVO-B.CO). 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.

	DHR	NOVO-B.CO	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	-0.75	+0.54
Sortino ratio: Return per unit of downside risk	-0.11	-0.84	+0.74
Omega ratio: Gain probability vs. loss probability	0.99	0.88	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.17	-0.76	+0.59
Martin ratio: Return relative to average drawdown	-0.42	-1.14	+0.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DHR vs. NOVO-B.CO - Sharpe Ratio Comparison

The current DHR Sharpe Ratio is -0.21, which is higher than the NOVO-B.CO Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of DHR and NOVO-B.CO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DHR	NOVO-B.CO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	-0.75	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	0.31	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.36	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.66	-0.01

Drawdowns

DHR vs. NOVO-B.CO - Drawdown Comparison

The maximum DHR drawdown since its inception was -45.80%, smaller than the maximum NOVO-B.CO drawdown of -74.86%. Use the drawdown chart below to compare losses from any high point for DHR and NOVO-B.CO.

Drawdown Indicators

	DHR	NOVO-B.CO	Difference
Max Drawdown Largest peak-to-trough decline	-45.80%	-74.86%	+29.06%
Max Drawdown (1Y) Largest decline over 1 year	-32.97%	-54.88%	+21.91%
Max Drawdown (3Y) Largest decline over 3 years	-41.72%	-74.86%	+33.14%
Max Drawdown (5Y) Largest decline over 5 years	-43.81%	-74.86%	+31.05%
Max Drawdown (10Y) Largest decline over 10 years	-43.81%	-74.86%	+31.05%
Current Drawdown Current decline from peak	-36.31%	-69.56%	+33.25%
Average Drawdown Average peak-to-trough decline	-10.21%	-12.33%	+2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.51%	36.42%	-22.91%

Volatility

DHR vs. NOVO-B.CO - Volatility Comparison

The current volatility for Danaher Corporation (DHR) is 9.24%, while Novo Nordisk A/S (NOVO-B.CO) has a volatility of 11.16%. This indicates that DHR experiences smaller price fluctuations and is considered to be less risky than NOVO-B.CO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHR	NOVO-B.CO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.24%	11.16%	-1.92%
Volatility (6M) Calculated over the trailing 6-month period	19.43%	40.40%	-20.97%
Volatility (1Y) Calculated over the trailing 1-year period	28.08%	55.90%	-27.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.00%	58.91%	-30.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.53%	45.47%	-19.94%

Dividends

DHR vs. NOVO-B.CO - Dividend Comparison

DHR's dividend yield for the trailing twelve months is around 0.74%, less than NOVO-B.CO's 4.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHR Danaher Corporation	0.74%	0.56%	0.47%	12.64%	0.38%	0.26%	0.32%	0.44%	0.62%	0.60%	32.55%	0.58%
NOVO-B.CO Novo Nordisk A/S	4.35%	3.58%	1.59%	1.01%	2.38%	2.54%	4.03%	4.22%	5.27%	4.54%	7.38%	2.50%

Financials

Frequently Asked Questions

Can I hold both DHR and NOVO-B.CO in my portfolio?

DHR and NOVO-B.CO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.