MRK vs. NVO
MRK (Merck & Co., Inc.) and NVO (Novo Nordisk A/S) are both stocks. Both operate in the Drug Manufacturers - General industry within the Healthcare sector. Over the past 10 years, MRK returned 11.42%/yr vs 8.27%/yr for NVO. At a 0.24 correlation, their price movements are largely independent.
Performance
MRK vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, MRK achieves a 11.50% return, which is significantly higher than NVO's -6.67% return. Over the past 10 years, MRK has outperformed NVO with an annualized return of 11.42%, while NVO has yielded a comparatively lower 8.27% annualized return.
MRK
- 1D
- 1.41%
- 1M
- -4.83%
- YTD
- 11.50%
- 6M
- 12.07%
- 1Y
- 51.19%
- 3Y*
- 3.45%
- 5Y*
- 12.33%
- 10Y*
- 11.42%
NVO
- 1D
- 6.23%
- 1M
- 2.05%
- YTD
- -6.67%
- 6M
- -1.28%
- 1Y
- -34.91%
- 3Y*
- -14.58%
- 5Y*
- 4.55%
- 10Y*
- 8.27%
MRK vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MRK Merck & Co., Inc. | 11.50% | 9.79% | -6.26% | 1.01% | 49.42% | 1.75% | -7.20% | 22.27% | 39.95% | -1.49% |
NVO Novo Nordisk A/S | -6.67% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between MRK and NVO 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 | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1982 | 0.24 |
The correlation between MRK and NVO shifts across timeframes, from 0.18 (1 year) to 0.30 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
MRK:
$285.47B
NVO:
$204.11B
MRK:
$3.58
NVO:
DKK 27.42
MRK:
32.22
NVO:
10.90
MRK:
0.03
NVO:
0.47
MRK:
4.39
NVO:
4.06
MRK:
6.22
NVO:
6.55
MRK:
$65.59B
NVO:
DKK 327.80B
MRK:
$49.79B
NVO:
DKK 268.30B
MRK:
$22.69B
NVO:
DKK 181.54B
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Return for Risk
MRK vs. NVO — Risk / Return Rank
MRK
NVO
MRK vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Merck & Co., Inc. (MRK) 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.
| MRK | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.57 | ||
| Sortino ratioReturn per unit of downside risk | +3.54 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.90 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | -0.71 | +5.24 |
| Martin ratioReturn relative to average drawdown | 11.16 | -1.13 | +12.29 |
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Drawdowns
MRK vs. NVO - Drawdown Comparison
The maximum MRK drawdown since its inception was -68.61%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for MRK and NVO.
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Drawdown Indicators
| MRK | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.61% | -74.70% | +6.09% |
Max Drawdown (1Y)Largest decline over 1 year | -11.37% | -49.17% | +37.80% |
Max Drawdown (3Y)Largest decline over 3 years | -43.44% | -74.70% | +31.26% |
Max Drawdown (5Y)Largest decline over 5 years | -43.44% | -74.70% | +31.26% |
Max Drawdown (10Y)Largest decline over 10 years | -43.44% | -74.70% | +31.26% |
Current DrawdownCurrent decline from peak | -7.06% | -66.66% | +59.60% |
Average DrawdownAverage peak-to-trough decline | -18.83% | -17.81% | -1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.60% | 32.54% | -27.94% |
Volatility
MRK vs. NVO - Volatility Comparison
The current volatility for Merck & Co., Inc. (MRK) is 9.78%, while Novo Nordisk A/S (NVO) has a volatility of 11.74%. This indicates that MRK 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
| MRK | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.78% | 11.74% | -1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 18.13% | 38.27% | -20.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.15% | 52.05% | -24.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.72% | 38.45% | -14.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.96% | 32.60% | -9.64% |
Dividends
MRK vs. NVO - Dividend Comparison
MRK's dividend yield for the trailing twelve months is around 3.07%, less than NVO's 3.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MRK Merck & Co., Inc. | 3.07% | 3.12% | 3.14% | 2.72% | 2.52% | 3.41% | 3.03% | 2.48% | 2.60% | 3.36% | 3.14% | 3.43% |
NVO Novo Nordisk A/S | 3.93% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Financials
MRK vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between Merck & Co., Inc. 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
MRK vs. NVO - Profitability Comparison
MRK - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.
NVO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.
MRK - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported an operating income of -1.88B and revenue of 16.29B, resulting in an operating margin of -11.6%.
NVO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 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%.
MRK - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported a net income of -4.24B and revenue of 16.29B, resulting in a net margin of -26.0%.
NVO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 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
MRK and NVO 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.
NVO has higher volatility (11.74%) compared to MRK (9.78%). In terms of maximum drawdown, MRK dropped -68.61% vs NVO's -74.70%.
MRK currently has the higher Sharpe Ratio (1.90 vs -0.67), 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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