NOV.DE vs. EMXC.DE

Last updated Jun 5, 2026

NOV.DE (Novo Nordisk A/S) is a stock, while EMXC.DE (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) is Emerging Markets Equities fund tracking the MSCI EM NR USD. Over the past 5 years, NOV.DE returned 5.10%/yr vs 13.66%/yr for EMXC.DE. At a 0.22 correlation, their price movements are largely independent.

Performance

NOV.DE vs. EMXC.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Novo Nordisk A/S (NOV.DE) and Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOV.DE achieves a -10.57% return, which is significantly lower than EMXC.DE's 40.23% return.

NOV.DE

• 1D: 4.26%
• 1M: -0.34%
• YTD: -10.57%
• 6M: -4.01%
• 1Y: -37.62%
• 3Y*: -17.58%
• 5Y*: 5.10%
• 10Y*: 9.63%

EMXC.DE

• 1D: -1.80%
• 1M: 8.39%
• YTD: 40.23%
• 6M: 44.14%
• 1Y: 69.02%
• 3Y*: 25.05%
• 5Y*: 13.66%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NOV.DE vs. EMXC.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NOV.DE Novo Nordisk A/S	-10.57%	-45.91%	-9.75%	49.59%	30.57%	73.65%	13.34%	17.67%
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc	40.23%	19.92%	9.13%	14.33%	-13.60%	17.56%	2.27%	6.14%

Correlation

The correlation between NOV.DE and EMXC.DE is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jul 11, 2019	0.22

Return for Risk

NOV.DE vs. EMXC.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NOV.DE

NOV.DE Risk / Return Rank: 16
NOV.DE Sharpe Ratio Rank: 12
NOV.DE Sortino Ratio Rank: 15
NOV.DE Omega Ratio Rank: 14
NOV.DE Calmar Ratio Rank: 17
NOV.DE Martin Ratio Rank: 21

EMXC.DE

EMXC.DE Risk / Return Rank: 92
EMXC.DE Sharpe Ratio Rank: 93
EMXC.DE Sortino Ratio Rank: 92
EMXC.DE Omega Ratio Rank: 92
EMXC.DE Calmar Ratio Rank: 91
EMXC.DE Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NOV.DE vs. EMXC.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NOV.DE) and Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE). 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.

	NOV.DE	EMXC.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	3.46	-4.16
Sortino ratio: Return per unit of downside risk	-0.75	4.43	-5.19
Omega ratio: Gain probability vs. loss probability	0.89	1.62	-0.73
Calmar ratio: Return relative to maximum drawdown	-0.69	5.78	-6.47
Martin ratio: Return relative to average drawdown	-1.02	21.97	-22.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOV.DE vs. EMXC.DE - Sharpe Ratio Comparison

The current NOV.DE Sharpe Ratio is -0.70, which is lower than the EMXC.DE Sharpe Ratio of 3.46. The chart below compares the historical Sharpe Ratios of NOV.DE and EMXC.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NOV.DE	EMXC.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.70	3.46	-4.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.85	-0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.69	-0.19

Drawdowns

NOV.DE vs. EMXC.DE - Drawdown Comparison

The maximum NOV.DE drawdown since its inception was -76.64%, which is greater than EMXC.DE's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for NOV.DE and EMXC.DE.

Drawdown Indicators

	NOV.DE	EMXC.DE	Difference
Max Drawdown Largest peak-to-trough decline	-76.64%	-38.77%	-37.87%
Max Drawdown (1Y) Largest decline over 1 year	-54.59%	-11.87%	-42.72%
Max Drawdown (3Y) Largest decline over 3 years	-76.64%	-20.48%	-56.16%
Max Drawdown (5Y) Largest decline over 5 years	-76.64%	-20.48%	-56.16%
Max Drawdown (10Y) Largest decline over 10 years	-76.64%	—	—
Current Drawdown Current decline from peak	-70.56%	-2.53%	-68.03%
Average Drawdown Average peak-to-trough decline	-12.76%	-6.73%	-6.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.00%	3.13%	+33.87%

Volatility

NOV.DE vs. EMXC.DE - Volatility Comparison

Novo Nordisk A/S (NOV.DE) and Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE) have volatilities of 8.55% and 8.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOV.DE	EMXC.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.55%	8.44%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	39.45%	17.23%	+22.22%
Volatility (1Y) Calculated over the trailing 1-year period	53.45%	19.85%	+33.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.93%	15.83%	+22.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.39%	18.50%	+14.89%

Dividends

NOV.DE vs. EMXC.DE - Dividend Comparison

NOV.DE's dividend yield for the trailing twelve months is around 4.11%, while EMXC.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOV.DE Novo Nordisk A/S	4.11%	3.54%	1.58%	1.01%	1.17%	1.27%	1.98%	2.08%	27.19%	2.27%	3.67%	1.25%

Frequently Asked Questions

Can I hold both NOV.DE and EMXC.DE in my portfolio?

NOV.DE and EMXC.DE have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.