LEGN vs. MRK
LEGN (Legend Biotech Corporation) and MRK (Merck & Co., Inc.) are both stocks. Both are in the Healthcare sector — LEGN in Biotechnology, MRK in Drug Manufacturers - General. Over the past 5 years, LEGN returned -7.67%/yr vs 13.11%/yr for MRK. At a 0.12 correlation, their price movements are largely independent.
Performance
LEGN vs. MRK - Performance Comparison
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Returns By Period
In the year-to-date period, LEGN achieves a 24.56% return, which is significantly higher than MRK's 19.09% return.
LEGN
- 1D
- -1.10%
- 1M
- -24.51%
- 6M
- 14.75%
- YTD
- 24.56%
- 1Y
- -30.49%
- 3Y*
- -27.72%
- 5Y*
- -7.67%
- 10Y*
- —
MRK
- 1D
- -1.22%
- 1M
- 4.52%
- 6M
- 13.41%
- YTD
- 19.09%
- 1Y
- 53.16%
- 3Y*
- 7.62%
- 5Y*
- 13.11%
- 10Y*
- 11.43%
LEGN vs. MRK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LEGN Legend Biotech Corporation | 24.56% | -33.19% | -45.92% | 20.53% | 7.10% | 65.52% | -23.89% |
MRK Merck & Co., Inc. | 19.09% | 9.79% | -6.26% | 1.01% | 49.42% | 1.75% | 2.64% |
Correlation
The correlation between LEGN and MRK is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020 | 0.12 |
Fundamentals
LEGN:
$5.01B
MRK:
$305.12B
LEGN:
-$1.63
MRK:
$3.59
LEGN:
3.65
MRK:
4.68
LEGN:
2.59
MRK:
6.66
LEGN:
$1.14B
MRK:
$65.59B
LEGN:
$611.63M
MRK:
$49.79B
LEGN:
-$186.04M
MRK:
$22.69B
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Return for Risk
LEGN vs. MRK — Risk / Return Rank
LEGN
MRK
LEGN vs. MRK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Legend Biotech Corporation (LEGN) and Merck & Co., Inc. (MRK). 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.
| LEGN | MRK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.32 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 4.59 | -5.10 |
| Martin ratioReturn relative to average drawdown | -0.78 | 11.28 | -12.07 |
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Drawdowns
LEGN vs. MRK - Drawdown Comparison
The maximum LEGN drawdown since its inception was -78.24%, which is greater than MRK's maximum drawdown of -68.61%. Use the drawdown chart below to compare losses from any high point for LEGN and MRK.
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Drawdown Indicators
| LEGN | MRK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.24% | -68.61% | -9.63% |
Max Drawdown (1Y)Largest decline over 1 year | -62.43% | -11.37% | -51.06% |
Max Drawdown (3Y)Largest decline over 3 years | -78.24% | -43.44% | -34.80% |
Max Drawdown (5Y)Largest decline over 5 years | -78.24% | -43.44% | -34.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.44% | — |
Current DrawdownCurrent decline from peak | -64.60% | -4.65% | -59.95% |
Average DrawdownAverage peak-to-trough decline | -31.78% | -18.81% | -12.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.62% | 4.63% | +35.99% |
Volatility
LEGN vs. MRK - Volatility Comparison
Legend Biotech Corporation (LEGN) has a higher volatility of 22.64% compared to Merck & Co., Inc. (MRK) at 9.30%. This indicates that LEGN's price experiences larger fluctuations and is considered to be riskier than MRK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LEGN | MRK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.64% | 9.30% | +13.34% |
Volatility (6M)Calculated over the trailing 6-month period | 60.26% | 19.39% | +40.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.14% | 27.85% | +42.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.80% | 23.97% | +32.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.99% | 23.05% | +32.94% |
Dividends
LEGN vs. MRK - Dividend Comparison
LEGN has not paid dividends to shareholders, while MRK's dividend yield for the trailing twelve months is around 2.72%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LEGN Legend Biotech Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MRK Merck & Co., Inc. | 2.72% | 3.12% | 3.14% | 2.72% | 2.52% | 3.41% | 3.03% | 2.48% | 2.60% | 3.36% | 3.14% | 3.43% |
Financials
LEGN vs. MRK - Financials Comparison
This section allows you to compare key financial metrics between Legend Biotech Corporation and Merck & Co., 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
LEGN vs. MRK - Profitability Comparison
LEGN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Legend Biotech Corporation reported a gross profit of 113.94M and revenue of 306.01M. Therefore, the gross margin over that period was 37.2%.
MRK - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Merck & Co., Inc. reported a gross profit of 13.34B and revenue of 16.29B. Therefore, the gross margin over that period was 81.9%.
LEGN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Legend Biotech Corporation reported an operating income of -47.04M and revenue of 306.01M, resulting in an operating margin of -15.4%.
MRK - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Merck & Co., Inc. reported an operating income of -1.88B and revenue of 16.29B, resulting in an operating margin of -11.6%.
LEGN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Legend Biotech Corporation reported a net income of -54.46M and revenue of 306.01M, resulting in a net margin of -17.8%.
MRK - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Merck & Co., Inc. reported a net income of -4.24B and revenue of 16.29B, resulting in a net margin of -26.0%.
Frequently Asked Questions
LEGN and MRK have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LEGN has higher volatility (22.64%) compared to MRK (9.30%). In terms of maximum drawdown, LEGN dropped -78.24% vs MRK's -68.61%.
MRK currently has the higher Sharpe Ratio (1.87 vs -0.46), 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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