GC=F vs. NOVO-B.CO

Last updated Jun 13, 2026

GC=F (Gold Futures) is an asset, while NOVO-B.CO (Novo Nordisk A/S) is a stock. At a correlation of -0.01, they often move in opposite directions.

Performance

GC=F vs. NOVO-B.CO - Performance Comparison

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

Different Trading Currencies

GC=F 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

GC=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NOVO-B.CO

• 1D: 1.53%
• 1M: -5.28%
• YTD: -10.15%
• 6M: -8.95%
• 1Y: -41.84%
• 3Y*: 6.83%
• 5Y*: 19.41%
• 10Y*: 17.63%

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

GC=F vs. NOVO-B.CO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GC=F Gold Futures	0.00%	0.00%	0.00%	0.00%	5.84%
NOVO-B.CO Novo Nordisk A/S	-10.15%	-39.54%	-15.04%	214.95%	44.95%

Correlation

The correlation between GC=F and NOVO-B.CO is -0.01, 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 (All Time) Calculated using the full available price history since Jan 31, 2022	-0.01

Return for Risk

GC=F vs. NOVO-B.CO — Risk / Return Rank

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

GC=F

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

NOVO-B.CO

NOVO-B.CO Risk / Return Rank: 13
NOVO-B.CO Sharpe Ratio Rank: 10
NOVO-B.CO Sortino Ratio Rank: 14
NOVO-B.CO Omega Ratio Rank: 12
NOVO-B.CO Calmar Ratio Rank: 13
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.

GC=F vs. NOVO-B.CO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gold Futures (GC=F) 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.

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.

	GC=F	NOVO-B.CO	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.77	—
Sortino ratio: Return per unit of downside risk	—	-0.89	—
Omega ratio: Gain probability vs. loss probability	—	0.88	—
Calmar ratio: Return relative to maximum drawdown	—	-0.79	—
Martin ratio: Return relative to average drawdown	—	-1.17	—

Drawdowns

Drawdown Indicators

	GC=F	NOVO-B.CO	Difference
Max Drawdown Largest peak-to-trough decline	—	-74.86%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-54.48%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-74.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-74.86%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-74.86%	—
Current Drawdown Current decline from peak	—	-67.88%	—
Average Drawdown Average peak-to-trough decline	—	-12.38%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	36.72%	—

Volatility

Volatility by Period

	GC=F	NOVO-B.CO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	40.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	55.70%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	58.93%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	45.48%	—

Frequently Asked Questions

Can I hold both GC=F and NOVO-B.CO in my portfolio?

GC=F and NOVO-B.CO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.