MDT vs. NVS
MDT (Medtronic plc) and NVS (Novartis AG) are both stocks. Both are in the Healthcare sector — MDT in Medical Devices, NVS in Drug Manufacturers - General. Over the past 10 years, MDT returned 2.24%/yr vs 9.95%/yr for NVS. At a 0.32 correlation, their price movements are largely independent.
Performance
MDT vs. NVS - Performance Comparison
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Returns By Period
In the year-to-date period, MDT achieves a -11.80% return, which is significantly lower than NVS's 11.78% return. Over the past 10 years, MDT has underperformed NVS with an annualized return of 2.24%, while NVS has yielded a comparatively higher 9.95% annualized return.
MDT
- 1D
- 0.11%
- 1M
- 5.93%
- 6M
- -12.44%
- YTD
- -11.80%
- 1Y
- -4.03%
- 3Y*
- 1.10%
- 5Y*
- -5.17%
- 10Y*
- 2.24%
- ALL TIME*
- 13.23%
NVS
- 1D
- -2.73%
- 1M
- 1.69%
- 6M
- 6.77%
- YTD
- 11.78%
- 1Y
- 34.89%
- 3Y*
- 16.47%
- 5Y*
- 14.79%
- 10Y*
- 9.95%
- ALL TIME*
- 8.95%
MDT vs. NVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MDT Medtronic plc | -11.80% | 24.05% | 0.28% | 9.58% | -22.55% | -9.79% | 5.70% | 27.34% | 15.18% | 15.90% |
NVS Novartis AG | 11.78% | 46.95% | 0.02% | 16.14% | 8.06% | -3.65% | 3.34% | 13.92% | 5.95% | 19.42% |
Correlation
The correlation between MDT and NVS is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 1996 | 0.32 |
Fundamentals
MDT:
$106.62B
NVS:
$285.37B
MDT:
$3.73
NVS:
$7.02
MDT:
22.34
NVS:
21.31
MDT:
11.61
NVS:
1.44
MDT:
2.95
NVS:
5.15
MDT:
2.17
NVS:
7.44
MDT:
$36.36B
NVS:
$56.05B
MDT:
$23.64B
NVS:
$42.19B
MDT:
$9.72B
NVS:
$22.40B
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Return for Risk
MDT vs. NVS — Risk / Return Rank
MDT
NVS
MDT vs. NVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Medtronic plc (MDT) and Novartis AG (NVS). 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.
| MDT | NVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.28 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 2.77 | -2.91 |
| Martin ratioReturn relative to average drawdown | -0.30 | 6.58 | -6.89 |
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Drawdowns
MDT vs. NVS - Drawdown Comparison
The maximum MDT drawdown since its inception was -57.63%, which is greater than NVS's maximum drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for MDT and NVS.
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Drawdown Indicators
| MDT | NVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.63% | -42.10% | -15.53% |
Max Drawdown (1Y)Largest decline over 1 year | -28.90% | -12.65% | -16.25% |
Max Drawdown (3Y)Largest decline over 3 years | -28.90% | -19.95% | -8.95% |
Max Drawdown (5Y)Largest decline over 5 years | -45.10% | -20.42% | -24.68% |
Max Drawdown (10Y)Largest decline over 10 years | -45.10% | -26.03% | -19.07% |
Current DrawdownCurrent decline from peak | -27.93% | -8.60% | -19.33% |
Average DrawdownAverage peak-to-trough decline | -16.57% | -10.91% | -5.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.24% | 5.31% | +7.93% |
Volatility
MDT vs. NVS - Volatility Comparison
Medtronic plc (MDT) has a higher volatility of 10.04% compared to Novartis AG (NVS) at 8.03%. This indicates that MDT's price experiences larger fluctuations and is considered to be riskier than NVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDT | NVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.04% | 8.03% | +2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 18.91% | 15.98% | +2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.34% | 21.51% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.34% | 19.18% | +3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.45% | 19.69% | +3.76% |
Dividends
MDT vs. NVS - Dividend Comparison
MDT's dividend yield for the trailing twelve months is around 3.42%, more than NVS's 3.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDT Medtronic plc | 3.42% | 2.95% | 3.49% | 3.34% | 3.44% | 2.39% | 1.95% | 1.87% | 2.15% | 2.24% | 2.34% | 1.88% |
NVS Novartis AG | 3.19% | 2.90% | 3.84% | 3.44% | 3.70% | 3.86% | 3.22% | 3.03% | 3.47% | 3.24% | 3.73% | 3.10% |
Financials
MDT vs. NVS - Financials Comparison
This section allows you to compare key financial metrics between Medtronic plc and Novartis AG. 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
MDT vs. NVS - Profitability Comparison
MDT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Medtronic plc reported a gross profit of 7.44B and revenue of 9.81B. Therefore, the gross margin over that period was 75.9%.
NVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Novartis AG reported a gross profit of 10.07B and revenue of 13.52B. Therefore, the gross margin over that period was 74.4%.
MDT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Medtronic plc reported an operating income of 1.56B and revenue of 9.81B, resulting in an operating margin of 16.0%.
NVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Novartis AG reported an operating income of 4.24B and revenue of 13.52B, resulting in an operating margin of 31.3%.
MDT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Medtronic plc reported a net income of 1.24B and revenue of 9.81B, resulting in a net margin of 12.7%.
NVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Novartis AG reported a net income of 3.16B and revenue of 13.52B, resulting in a net margin of 23.3%.
Frequently Asked Questions
MDT and NVS have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MDT has higher volatility (10.04%) compared to NVS (8.03%). In terms of maximum drawdown, MDT dropped -57.63% vs NVS's -42.10%.
NVS currently has the higher Sharpe Ratio (1.63 vs -0.17), 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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