ETN vs. NOVO-B.CO

Last updated Jun 9, 2026

ETN (Eaton Corporation plc) and NOVO-B.CO (Novo Nordisk A/S) are both stocks. ETN operates in Specialty Industrial Machinery (Industrials), while NOVO-B.CO operates in Biotechnology (Healthcare). Over the past 10 years, ETN returned 23.50%/yr vs 16.29%/yr for NOVO-B.CO. At a 0.18 correlation, their price movements are largely independent.

Performance

ETN vs. NOVO-B.CO - Performance Comparison

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

Different Trading Currencies

ETN 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, ETN achieves a 27.32% return, which is significantly higher than NOVO-B.CO's -14.86% return. Over the past 10 years, ETN has outperformed NOVO-B.CO with an annualized return of 23.50%, while NOVO-B.CO has yielded a comparatively lower 16.29% annualized return.

ETN

• 1D: 1.82%
• 1M: 0.41%
• YTD: 27.32%
• 6M: 18.09%
• 1Y: 23.03%
• 3Y*: 30.80%
• 5Y*: 24.42%
• 10Y*: 23.50%

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)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETN Eaton Corporation plc	27.32%	-2.79%	39.51%	56.22%	-7.18%	46.70%	29.88%	42.76%	-10.04%	21.54%
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 ETN and NOVO-B.CO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Sep 3, 2007	0.18

Return for Risk

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

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

ETN

ETN Risk / Return Rank: 63
ETN Sharpe Ratio Rank: 66
ETN Sortino Ratio Rank: 58
ETN Omega Ratio Rank: 58
ETN Calmar Ratio Rank: 66
ETN Martin Ratio Rank: 65

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.

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

This table presents a comparison of risk-adjusted performance metrics for Eaton Corporation plc (ETN) 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.

	ETN	NOVO-B.CO	Difference
Sharpe ratio: Return per unit of total volatility	0.71	-0.75	+1.46
Sortino ratio: Return per unit of downside risk	1.14	-0.84	+1.99
Omega ratio: Gain probability vs. loss probability	1.14	0.88	+0.26
Calmar ratio: Return relative to maximum drawdown	1.21	-0.76	+1.97
Martin ratio: Return relative to average drawdown	2.63	-1.14	+3.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current ETN Sharpe Ratio is 0.71, which is higher than the NOVO-B.CO Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of ETN 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

	ETN	NOVO-B.CO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	-0.75	+1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.31	+0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.36	+0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.66	-0.24

Drawdowns

ETN vs. NOVO-B.CO - Drawdown Comparison

The maximum ETN drawdown since its inception was -68.95%, smaller than the maximum NOVO-B.CO drawdown of -74.86%. Use the drawdown chart below to compare losses from any high point for ETN and NOVO-B.CO.

Drawdown Indicators

	ETN	NOVO-B.CO	Difference
Max Drawdown Largest peak-to-trough decline	-68.95%	-74.86%	+5.91%
Max Drawdown (1Y) Largest decline over 1 year	-19.14%	-54.88%	+35.74%
Max Drawdown (3Y) Largest decline over 3 years	-34.46%	-74.86%	+40.40%
Max Drawdown (5Y) Largest decline over 5 years	-34.46%	-74.86%	+40.40%
Max Drawdown (10Y) Largest decline over 10 years	-44.55%	-74.86%	+30.31%
Current Drawdown Current decline from peak	-6.64%	-69.56%	+62.92%
Average Drawdown Average peak-to-trough decline	-14.90%	-12.33%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.78%	36.42%	-27.64%

Volatility

ETN vs. NOVO-B.CO - Volatility Comparison

Eaton Corporation plc (ETN) has a higher volatility of 12.39% compared to Novo Nordisk A/S (NOVO-B.CO) at 11.16%. This indicates that ETN's price experiences larger fluctuations and is considered to be riskier than NOVO-B.CO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETN	NOVO-B.CO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.39%	11.16%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	25.71%	40.40%	-14.69%
Volatility (1Y) Calculated over the trailing 1-year period	32.58%	55.90%	-23.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.03%	58.91%	-28.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.01%	45.47%	-15.46%

Dividends

ETN vs. NOVO-B.CO - Dividend Comparison

ETN's dividend yield for the trailing twelve months is around 1.06%, less than NOVO-B.CO's 4.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETN Eaton Corporation plc	1.06%	1.31%	1.13%	1.43%	2.06%	1.76%	1.88%	3.00%	3.85%	3.04%	3.40%	4.23%
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 ETN and NOVO-B.CO in my portfolio?

ETN and NOVO-B.CO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.