MRNA vs. NVO
MRNA (Moderna, Inc.) and NVO (Novo Nordisk A/S) are both stocks. Both are in the Healthcare sector — MRNA in Biotechnology, NVO in Drug Manufacturers - General. Over the past 5 years, MRNA returned -25.67%/yr vs 2.96%/yr for NVO. At a 0.21 correlation, their price movements are largely independent.
Performance
MRNA vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, MRNA achieves a 68.33% return, which is significantly higher than NVO's -10.58% return.
MRNA
- 1D
- 7.94%
- 1M
- -6.81%
- YTD
- 68.33%
- 6M
- 67.53%
- 1Y
- 78.88%
- 3Y*
- -26.20%
- 5Y*
- -25.67%
- 10Y*
- —
NVO
- 1D
- 2.69%
- 1M
- -6.47%
- YTD
- -10.58%
- 6M
- -9.53%
- 1Y
- -41.56%
- 3Y*
- -15.73%
- 5Y*
- 2.96%
- 10Y*
- 7.06%
MRNA vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MRNA Moderna, Inc. | 68.33% | -29.08% | -58.19% | -44.63% | -29.28% | 143.11% | 434.10% | 28.09% | -30.59% |
NVO Novo Nordisk A/S | -10.58% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | 0.94% |
Correlation
The correlation between MRNA and NVO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2018 | 0.21 |
The correlation between MRNA and NVO shifts across timeframes, from 0.21 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
MRNA:
$19.61B
NVO:
$195.56B
MRNA:
-$8.16
NVO:
DKK 27.42
MRNA:
8.73
NVO:
3.86
MRNA:
2.65
NVO:
6.23
MRNA:
$2.23B
NVO:
DKK 327.80B
MRNA:
-$309.00M
NVO:
DKK 268.30B
MRNA:
-$3.02B
NVO:
DKK 181.54B
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Return for Risk
MRNA vs. NVO — Risk / Return Rank
MRNA
NVO
MRNA vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Moderna, Inc. (MRNA) 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.
| MRNA | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.03 | ||
| Sortino ratioReturn per unit of downside risk | +3.04 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.86 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | -0.76 | +2.99 |
| Martin ratioReturn relative to average drawdown | 4.39 | -1.11 | +5.49 |
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Drawdowns
MRNA vs. NVO - Drawdown Comparison
The maximum MRNA drawdown since its inception was -95.38%, which is greater than NVO's maximum drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for MRNA and NVO.
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Drawdown Indicators
| MRNA | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.38% | -74.70% | -20.68% |
Max Drawdown (1Y)Largest decline over 1 year | -35.51% | -55.03% | +19.52% |
Max Drawdown (3Y)Largest decline over 3 years | -86.58% | -74.70% | -11.88% |
Max Drawdown (5Y)Largest decline over 5 years | -95.38% | -74.70% | -20.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.70% | — |
Current DrawdownCurrent decline from peak | -89.75% | -68.06% | -21.69% |
Average DrawdownAverage peak-to-trough decline | -57.04% | -17.78% | -39.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.06% | 37.52% | -19.46% |
Volatility
MRNA vs. NVO - Volatility Comparison
Moderna, Inc. (MRNA) has a higher volatility of 18.37% compared to Novo Nordisk A/S (NVO) at 10.69%. This indicates that MRNA's price experiences larger fluctuations and is considered to be riskier 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
| MRNA | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.37% | 10.69% | +7.68% |
Volatility (6M)Calculated over the trailing 6-month period | 48.88% | 38.46% | +10.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.75% | 51.88% | +12.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.52% | 38.34% | +28.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.17% | 32.56% | +39.61% |
Dividends
MRNA vs. NVO - Dividend Comparison
MRNA has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 4.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MRNA Moderna, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NVO Novo Nordisk A/S | 4.10% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Financials
MRNA vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between Moderna, 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
Frequently Asked Questions
MRNA and NVO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MRNA has higher volatility (18.37%) compared to NVO (10.69%). In terms of maximum drawdown, MRNA dropped -95.38% vs NVO's -74.70%.
MRNA currently has the higher Sharpe Ratio (1.22 vs -0.80), 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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