KO vs. NVO
KO (The Coca-Cola Company) and NVO (Novo Nordisk A/S) are both stocks. KO operates in Beverages - Non-Alcoholic (Consumer Defensive), while NVO operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, KO returned 9.37%/yr vs 8.18%/yr for NVO. At a 0.19 correlation, their price movements are largely independent.
Performance
KO vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, KO achieves a 19.04% return, which is significantly higher than NVO's 0.91% return. Over the past 10 years, KO has outperformed NVO with an annualized return of 9.37%, while NVO has yielded a comparatively lower 8.18% annualized return.
KO
- 1D
- 0.69%
- 1M
- 3.44%
- 6M
- 18.14%
- YTD
- 19.04%
- 1Y
- 20.90%
- 3Y*
- 12.83%
- 5Y*
- 10.98%
- 10Y*
- 9.37%
- ALL TIME*
- 12.17%
NVO
- 1D
- -1.41%
- 1M
- 14.86%
- 6M
- -17.63%
- YTD
- 0.91%
- 1Y
- -19.26%
- 3Y*
- -13.51%
- 5Y*
- 4.43%
- 10Y*
- 8.18%
- ALL TIME*
- 14.52%
KO vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KO The Coca-Cola Company | 19.04% | 15.60% | 8.88% | -4.43% | 10.61% | 11.37% | 2.47% | 20.60% | 6.77% | 14.38% |
NVO Novo Nordisk A/S | 0.91% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between KO and NVO is -0.03, 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 (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1982 | 0.19 |
The correlation between KO and NVO shifts across timeframes, from -0.03 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
Fundamentals
KO:
$353.32B
NVO:
$220.46B
KO:
$3.18
NVO:
DKK 27.42
KO:
25.85
NVO:
11.83
KO:
3.12
NVO:
0.51
KO:
7.19
NVO:
4.40
KO:
10.53
NVO:
7.11
KO:
$49.28B
NVO:
DKK 327.80B
KO:
$30.43B
NVO:
DKK 268.30B
KO:
$18.35B
NVO:
DKK 181.54B
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Return for Risk
KO vs. NVO — Risk / Return Rank
KO
NVO
KO vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Coca-Cola Company (KO) 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.
| KO | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.54 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.97 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | -0.39 | +3.06 |
| Martin ratioReturn relative to average drawdown | 5.83 | -0.61 | +6.44 |
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Drawdowns
KO vs. NVO - Drawdown Comparison
The maximum KO drawdown since its inception was -68.23%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for KO and NVO.
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Drawdown Indicators
| KO | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.23% | -74.70% | +6.47% |
Max Drawdown (1Y)Largest decline over 1 year | -7.87% | -49.17% | +41.30% |
Max Drawdown (3Y)Largest decline over 3 years | -16.26% | -74.70% | +58.44% |
Max Drawdown (5Y)Largest decline over 5 years | -17.27% | -74.70% | +57.43% |
Max Drawdown (10Y)Largest decline over 10 years | -36.99% | -74.70% | +37.71% |
Current DrawdownCurrent decline from peak | -3.30% | -63.95% | +60.65% |
Average DrawdownAverage peak-to-trough decline | -16.07% | -17.89% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 31.75% | -28.16% |
Volatility
KO vs. NVO - Volatility Comparison
The current volatility for The Coca-Cola Company (KO) is 7.83%, while Novo Nordisk A/S (NVO) has a volatility of 9.48%. This indicates that KO experiences smaller price fluctuations and is considered to be less risky than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KO | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.83% | 9.48% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 37.43% | -23.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.98% | 51.79% | -33.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.46% | 38.58% | -22.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 32.63% | -14.26% |
Dividends
KO vs. NVO - Dividend Comparison
KO's dividend yield for the trailing twelve months is around 2.53%, less than NVO's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KO The Coca-Cola Company | 2.53% | 2.92% | 3.12% | 3.12% | 2.77% | 2.84% | 2.99% | 2.89% | 3.29% | 3.23% | 3.38% | 3.07% |
NVO Novo Nordisk A/S | 3.63% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Financials
KO vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between The Coca-Cola Company and Novo Nordisk A/S. 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
KO vs. NVO - Profitability Comparison
KO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, The Coca-Cola Company reported a gross profit of 7.85B and revenue of 12.47B. Therefore, the gross margin over that period was 63.0%.
NVO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Novo Nordisk A/S reported a gross profit of 83.23B and revenue of 96.82B. Therefore, the gross margin over that period was 86.0%.
KO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, The Coca-Cola Company reported an operating income of 4.36B and revenue of 12.47B, resulting in an operating margin of 35.0%.
NVO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Novo Nordisk A/S reported an operating income of 59.62B and revenue of 96.82B, resulting in an operating margin of 61.6%.
KO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, The Coca-Cola Company reported a net income of 3.92B and revenue of 12.47B, resulting in a net margin of 31.5%.
NVO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Novo Nordisk A/S reported a net income of 48.56B and revenue of 96.82B, resulting in a net margin of 50.2%.
Frequently Asked Questions
KO and NVO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVO has higher volatility (9.48%) compared to KO (7.83%). In terms of maximum drawdown, KO dropped -68.23% vs NVO's -74.70%.
KO currently has the higher Sharpe Ratio (1.17 vs -0.37), 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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