ELV vs. NVS
ELV (Elevance Health Inc) and NVS (Novartis AG) are both stocks. Both are in the Healthcare sector — ELV in Healthcare Plans, NVS in Drug Manufacturers - General. Over the past 10 years, ELV returned 13.53%/yr vs 11.14%/yr for NVS. At a 0.29 correlation, their price movements are largely independent.
Performance
ELV vs. NVS - Performance Comparison
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Returns By Period
In the year-to-date period, ELV achieves a 16.45% return, which is significantly higher than NVS's 14.40% return. Over the past 10 years, ELV has outperformed NVS with an annualized return of 13.53%, while NVS has yielded a comparatively lower 11.14% annualized return.
ELV
- 1D
- 1.23%
- 1M
- 1.52%
- YTD
- 16.45%
- 6M
- 13.69%
- 1Y
- 6.82%
- 3Y*
- -3.25%
- 5Y*
- 2.49%
- 10Y*
- 13.53%
NVS
- 1D
- -0.55%
- 1M
- 2.22%
- YTD
- 14.40%
- 6M
- 18.98%
- 1Y
- 30.60%
- 3Y*
- 19.57%
- 5Y*
- 14.77%
- 10Y*
- 11.14%
ELV vs. NVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELV Elevance Health Inc | 16.45% | -3.14% | -20.72% | -6.89% | 11.83% | 46.12% | 7.74% | 16.33% | 18.11% | 58.72% |
NVS Novartis AG | 14.40% | 46.95% | 0.02% | 16.14% | 8.06% | -3.65% | 3.34% | 13.92% | 5.95% | 19.42% |
Correlation
The correlation between ELV and NVS is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2001 | 0.29 |
Fundamentals
ELV:
$89.06B
NVS:
$293.28B
ELV:
$23.46
NVS:
$6.99
ELV:
17.22
NVS:
21.90
ELV:
0.45
NVS:
5.29
ELV:
2.03
NVS:
7.62
ELV:
$200.42B
NVS:
$56.05B
ELV:
$46.43B
NVS:
$42.19B
ELV:
$8.92B
NVS:
$22.40B
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Return for Risk
ELV vs. NVS — Risk / Return Rank
ELV
NVS
ELV vs. NVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Elevance Health Inc (ELV) 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.
| ELV | NVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.26 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 2.43 | -2.21 |
| Martin ratioReturn relative to average drawdown | 0.41 | 5.88 | -5.47 |
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Drawdowns
ELV vs. NVS - Drawdown Comparison
The maximum ELV drawdown since its inception was -67.19%, which is greater than NVS's maximum drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for ELV and NVS.
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Drawdown Indicators
| ELV | NVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.19% | -42.10% | -25.09% |
Max Drawdown (1Y)Largest decline over 1 year | -30.60% | -12.65% | -17.95% |
Max Drawdown (3Y)Largest decline over 3 years | -50.38% | -19.95% | -30.43% |
Max Drawdown (5Y)Largest decline over 5 years | -50.38% | -20.42% | -29.96% |
Max Drawdown (10Y)Largest decline over 10 years | -50.38% | -26.03% | -24.35% |
Current DrawdownCurrent decline from peak | -25.47% | -6.46% | -19.01% |
Average DrawdownAverage peak-to-trough decline | -15.29% | -10.92% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.75% | 5.23% | +11.52% |
Volatility
ELV vs. NVS - Volatility Comparison
Elevance Health Inc (ELV) has a higher volatility of 9.29% compared to Novartis AG (NVS) at 7.18%. This indicates that ELV'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.
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Volatility by Period
| ELV | NVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.29% | 7.18% | +2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 27.54% | 14.96% | +12.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.79% | 21.02% | +17.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.00% | 18.89% | +10.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.86% | 19.64% | +11.22% |
Dividends
ELV vs. NVS - Dividend Comparison
ELV's dividend yield for the trailing twelve months is around 1.70%, less than NVS's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELV Elevance Health Inc | 1.70% | 1.95% | 1.77% | 1.26% | 1.00% | 0.98% | 1.18% | 1.06% | 1.14% | 1.20% | 1.81% | 1.79% |
NVS Novartis AG | 3.12% | 2.90% | 3.84% | 3.44% | 3.70% | 3.86% | 3.22% | 3.03% | 3.47% | 3.24% | 3.73% | 3.10% |
Financials
ELV vs. NVS - Financials Comparison
This section allows you to compare key financial metrics between Elevance Health Inc 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
ELV vs. NVS - Profitability Comparison
ELV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Elevance Health Inc reported a gross profit of 9.10B and revenue of 50.18B. Therefore, the gross margin over that period was 18.1%.
NVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.
ELV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Elevance Health Inc reported an operating income of 2.66B and revenue of 50.18B, resulting in an operating margin of 5.3%.
NVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Novartis AG reported an operating income of 4.24B and revenue of 13.52B, resulting in an operating margin of 31.3%.
ELV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Elevance Health Inc reported a net income of 1.76B and revenue of 50.18B, resulting in a net margin of 3.5%.
NVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 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
ELV and NVS have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELV has higher volatility (9.29%) compared to NVS (7.18%). In terms of maximum drawdown, ELV dropped -67.19% vs NVS's -42.10%.
NVS currently has the higher Sharpe Ratio (1.47 vs 0.18), 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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