IBIT vs. NVO
IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while NVO (Novo Nordisk A/S) is a stock. Over the past year, IBIT returned -40.63% vs -43.34% for NVO. At a 0.15 correlation, their price movements are largely independent.
Performance
IBIT vs. NVO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBIT achieves a -27.41% return, which is significantly lower than NVO's -10.74% return.
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVO
- 1D
- -0.18%
- 1M
- -6.80%
- YTD
- -10.74%
- 6M
- -9.50%
- 1Y
- -43.34%
- 3Y*
- -15.59%
- 5Y*
- 2.92%
- 10Y*
- 7.56%
IBIT vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
NVO Novo Nordisk A/S | -10.74% | -39.22% | -19.97% |
Correlation
The correlation between IBIT and NVO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.15 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBIT vs. NVO — Risk / Return Rank
IBIT
NVO
IBIT vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) 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.
| IBIT | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.85 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.80 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.18 | -0.19 |
Loading charts...
Drawdowns
IBIT vs. NVO - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for IBIT and NVO.
Loading charts...
Drawdown Indicators
| IBIT | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -74.70% | +22.59% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -54.34% | +2.23% |
Max Drawdown (3Y)Largest decline over 3 years | — | -74.70% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -74.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.70% | — |
Current DrawdownCurrent decline from peak | -49.45% | -68.11% | +18.66% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -17.79% | +1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 37.62% | -7.98% |
Volatility
IBIT vs. NVO - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 12.07% compared to Novo Nordisk A/S (NVO) at 10.68%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IBIT | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 10.68% | +1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 38.04% | -3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 51.88% | -7.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 38.33% | +11.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 32.56% | +17.70% |
Dividends
IBIT vs. NVO - Dividend Comparison
IBIT has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 4.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NVO Novo Nordisk A/S | 4.11% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Frequently Asked Questions
IBIT and NVO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to NVO (10.68%). In terms of maximum drawdown, IBIT dropped -52.11% vs NVO's -74.70%.
NVO currently has the higher Sharpe Ratio (-0.84 vs -0.92), 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.
Find the right allocation for IBIT and NVO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer