IPGP vs. NOVT
IPGP (IPG Photonics Corporation) and NOVT (Novanta Inc.) are both stocks. Both are in the Technology sector — IPGP in Semiconductor Equipment & Materials, NOVT in Scientific & Technical Instruments. Over the past 10 years, IPGP returned 0.25%/yr vs 24.80%/yr for NOVT. Their 0.55 correlation means they have sometimes moved together and sometimes differently.
Performance
IPGP vs. NOVT - Performance Comparison
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Returns By Period
In the year-to-date period, IPGP achieves a 18.80% return, which is significantly lower than NOVT's 19.80% return. Over the past 10 years, IPGP has underperformed NOVT with an annualized return of 0.25%, while NOVT has yielded a comparatively higher 24.80% annualized return.
IPGP
- 1D
- 0.19%
- 1M
- -19.20%
- 6M
- -7.95%
- YTD
- 18.80%
- 1Y
- 13.08%
- 3Y*
- -7.75%
- 5Y*
- -17.17%
- 10Y*
- 0.25%
- ALL TIME*
- 6.49%
NOVT
- 1D
- 2.62%
- 1M
- -11.85%
- 6M
- 5.95%
- YTD
- 19.80%
- 1Y
- 18.69%
- 3Y*
- -6.85%
- 5Y*
- 0.30%
- 10Y*
- 24.80%
- ALL TIME*
- 25.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $33.63M | $34.97M | $55.48M | |
NOVT Novanta Inc. | $55.79M | $69.32M | $81.33M |
IPGP vs. NOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPGP IPG Photonics Corporation | 18.80% | -1.54% | -33.00% | 14.65% | -45.00% | -23.08% | 54.42% | 27.92% | -47.09% | 116.93% |
NOVT Novanta Inc. | 19.80% | -22.11% | -9.29% | 23.95% | -22.95% | 49.15% | 33.67% | 40.38% | 26.00% | 138.10% |
Correlation
The correlation between IPGP and NOVT is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.55 |
The correlation between IPGP and NOVT has been stable across timeframes, ranging from 0.47 to 0.56 - a consistent structural relationship.
Fundamentals
IPGP:
$3.61B
NOVT:
$5.08B
IPGP:
$0.68
NOVT:
$1.39
IPGP:
125.57
NOVT:
102.50
IPGP:
11.19
NOVT:
28.58
IPGP:
3.49
NOVT:
5.48
IPGP:
1.73
NOVT:
4.48
IPGP:
$1.04B
NOVT:
$1.00B
IPGP:
$391.15M
NOVT:
$444.51M
IPGP:
$73.19M
NOVT:
$150.84M
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Return for Risk
IPGP vs. NOVT — Risk / Return Rank
IPGP
NOVT
IPGP vs. NOVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IPG Photonics Corporation (IPGP) and Novanta Inc. (NOVT). 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.
| IPGP | NOVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.10 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 0.59 | -0.31 |
| Martin ratioReturn relative to average drawdown | 0.71 | 1.33 | -0.62 |
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Drawdowns
IPGP vs. NOVT - Drawdown Comparison
The maximum IPGP drawdown since its inception was -81.13%, which is greater than NOVT's maximum drawdown of -46.71%. Use the drawdown chart below to compare losses from any high point for IPGP and NOVT.
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Drawdown Indicators
| IPGP | NOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.13% | -46.71% | -34.42% |
Max Drawdown (1Y)Largest decline over 1 year | -47.89% | -26.97% | -20.92% |
Max Drawdown (3Y)Largest decline over 3 years | -55.35% | -46.71% | -8.64% |
Max Drawdown (5Y)Largest decline over 5 years | -72.94% | -46.71% | -26.23% |
Max Drawdown (10Y)Largest decline over 10 years | -81.13% | -46.71% | -34.42% |
Current DrawdownCurrent decline from peak | -67.70% | -23.44% | -44.26% |
Average DrawdownAverage peak-to-trough decline | -34.58% | -12.38% | -22.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.20% | 11.97% | +7.23% |
Volatility
IPGP vs. NOVT - Volatility Comparison
IPG Photonics Corporation (IPGP) has a higher volatility of 20.62% compared to Novanta Inc. (NOVT) at 14.23%. This indicates that IPGP's price experiences larger fluctuations and is considered to be riskier than NOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPGP | NOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.62% | 14.23% | +6.39% |
Volatility (6M)Calculated over the trailing 6-month period | 64.24% | 34.25% | +29.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.44% | 51.29% | +19.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.33% | 40.60% | +7.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.82% | 39.23% | +6.59% |
Dividends
IPGP vs. NOVT - Dividend Comparison
Neither IPGP nor NOVT has paid dividends to shareholders.
Financials
IPGP vs. NOVT - Financials Comparison
This section allows you to compare key financial metrics between IPG Photonics Corporation and Novanta Inc.. 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
IPGP vs. NOVT - Profitability Comparison
IPGP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, IPG Photonics Corporation reported a gross profit of 99.50M and revenue of 265.50M. Therefore, the gross margin over that period was 37.5%.
NOVT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Novanta Inc. reported a gross profit of 113.58M and revenue of 257.71M. Therefore, the gross margin over that period was 44.1%.
IPGP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, IPG Photonics Corporation reported an operating income of -7.74M and revenue of 265.50M, resulting in an operating margin of -2.9%.
NOVT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Novanta Inc. reported an operating income of 27.54M and revenue of 257.71M, resulting in an operating margin of 10.7%.
IPGP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, IPG Photonics Corporation reported a net income of 1.58M and revenue of 265.50M, resulting in a net margin of 0.6%.
NOVT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Novanta Inc. reported a net income of 21.10M and revenue of 257.71M, resulting in a net margin of 8.2%.
Frequently Asked Questions
IPGP and NOVT have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IPGP has higher volatility (20.62%) compared to NOVT (14.23%). In terms of maximum drawdown, IPGP dropped -81.13% vs NOVT's -46.71%.
NOVT currently has the higher Sharpe Ratio (0.31 vs 0.19), 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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