NOV vs. DOCU

Last updated Jun 13, 2026

NOV (National Oilwell Varco, Inc.) and DOCU (DocuSign, Inc.) are both stocks. NOV operates in Oil & Gas Equipment & Services (Energy), while DOCU operates in Software - Application (Technology). Over the past 5 years, NOV returned 6.53%/yr vs -29.19%/yr for DOCU. At a 0.10 correlation, their price movements are largely independent.

Performance

NOV vs. DOCU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in National Oilwell Varco, Inc. (NOV) and DocuSign, Inc. (DOCU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOV achieves a 37.04% return, which is significantly higher than DOCU's -34.17% return.

NOV

• 1D: 0.48%
• 1M: 4.65%
• YTD: 37.04%
• 6M: 30.69%
• 1Y: 58.42%
• 3Y*: 14.65%
• 5Y*: 6.53%
• 10Y*: -3.52%

DOCU

• 1D: 1.08%
• 1M: -5.62%
• YTD: -34.17%
• 6M: -36.68%
• 1Y: -39.20%
• 3Y*: -6.61%
• 5Y*: -29.19%
• 10Y*: —

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

NOV vs. DOCU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NOV National Oilwell Varco, Inc.	37.04%	11.30%	-26.81%	-1.83%	55.72%	-0.89%	-44.93%	-1.69%	-33.21%
DOCU DocuSign, Inc.	-34.17%	-23.95%	51.29%	7.27%	-63.61%	-31.48%	199.96%	84.91%	5.47%

Correlation

The correlation between NOV and DOCU is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Apr 27, 2018	0.10

The correlation between NOV and DOCU shifts across timeframes, from -0.00 (1 year) to 0.12 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NOV : $7.69B DOCU : $8.85B
EPS NOV : $0.25 DOCU : $1.53
PE Ratio NOV : 85.80 DOCU : 29.42
PEG Ratio NOV : 1.05 DOCU : 0.05
PS Ratio NOV : 0.90 DOCU : 2.82
PB Ratio NOV : 1.23 DOCU : 4.86
Total Revenue (TTM) NOV : $8.69B DOCU : $3.29B
Gross Profit (TTM) NOV : $1.70B DOCU : $2.61B
EBITDA (TTM) NOV : $633.00M DOCU : $568.83M

Return for Risk

NOV vs. DOCU — Risk / Return Rank

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

NOV

NOV Risk / Return Rank: 84
NOV Sharpe Ratio Rank: 85
NOV Sortino Ratio Rank: 81
NOV Omega Ratio Rank: 79
NOV Calmar Ratio Rank: 89
NOV Martin Ratio Rank: 89

DOCU

DOCU Risk / Return Rank: 10
DOCU Sharpe Ratio Rank: 7
DOCU Sortino Ratio Rank: 9
DOCU Omega Ratio Rank: 10
DOCU Calmar Ratio Rank: 12
DOCU Martin Ratio Rank: 10

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 vs. DOCU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for National Oilwell Varco, Inc. (NOV) and DocuSign, Inc. (DOCU). 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.

	NOV	DOCU	Difference
Sharpe ratio: Return per unit of total volatility	1.65	-0.92	+2.57
Sortino ratio: Return per unit of downside risk	2.22	-1.22	+3.45
Omega ratio: Gain probability vs. loss probability	1.28	0.85	+0.43
Calmar ratio: Return relative to maximum drawdown	3.91	-0.80	+4.71
Martin ratio: Return relative to average drawdown	10.14	-1.36	+11.50

NOV vs. DOCU - Sharpe Ratio Comparison

The current NOV Sharpe Ratio is 1.65, which is higher than the DOCU Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of NOV and DOCU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NOV vs. DOCU - Drawdown Comparison

The maximum NOV drawdown since its inception was -89.77%, roughly equal to the maximum DOCU drawdown of -87.57%. Use the drawdown chart below to compare losses from any high point for NOV and DOCU.

Drawdown Indicators

	NOV	DOCU	Difference
Max Drawdown Largest peak-to-trough decline	-89.77%	-87.57%	-2.20%
Max Drawdown (1Y) Largest decline over 1 year	-16.10%	-50.89%	+34.79%
Max Drawdown (3Y) Largest decline over 3 years	-47.15%	-60.98%	+13.83%
Max Drawdown (5Y) Largest decline over 5 years	-53.70%	-87.57%	+33.87%
Max Drawdown (10Y) Largest decline over 10 years	-83.26%	—	—
Current Drawdown Current decline from peak	-70.35%	-85.48%	+15.13%
Average Drawdown Average peak-to-trough decline	-45.20%	-49.90%	+4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	30.04%	-23.84%

Volatility

NOV vs. DOCU - Volatility Comparison

The current volatility for National Oilwell Varco, Inc. (NOV) is 11.51%, while DocuSign, Inc. (DOCU) has a volatility of 16.54%. This indicates that NOV experiences smaller price fluctuations and is considered to be less risky than DOCU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOV	DOCU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.51%	16.54%	-5.03%
Volatility (6M) Calculated over the trailing 6-month period	26.13%	34.72%	-8.59%
Volatility (1Y) Calculated over the trailing 1-year period	38.20%	44.60%	-6.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.45%	57.83%	-15.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.27%	56.45%	-9.18%

Dividends

NOV vs. DOCU - Dividend Comparison

NOV's dividend yield for the trailing twelve months is around 2.34%, while DOCU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DOCU DocuSign, 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%
NOV National Oilwell Varco, Inc.	1.99%	3.26%	1.88%	0.99%	0.96%	0.37%	0.36%	0.80%	0.78%	0.56%	1.63%	5.49%

Financials

NOV vs. DOCU - Profitability Comparison

The chart below illustrates the profitability comparison between National Oilwell Varco, Inc. and DocuSign, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NOV - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported a gross profit of 379.00M and revenue of 2.05B. Therefore, the gross margin over that period was 18.5%.

DOCU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, DocuSign, Inc. reported a gross profit of 658.97M and revenue of 830.24M. Therefore, the gross margin over that period was 79.4%.

NOV - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported an operating income of 47.00M and revenue of 2.05B, resulting in an operating margin of 2.3%.

DOCU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, DocuSign, Inc. reported an operating income of 111.31M and revenue of 830.24M, resulting in an operating margin of 13.4%.

NOV - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported a net income of 19.00M and revenue of 2.05B, resulting in a net margin of 0.9%.

DOCU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, DocuSign, Inc. reported a net income of 78.20M and revenue of 830.24M, resulting in a net margin of 9.4%.

Frequently Asked Questions

Can I hold both NOV and DOCU in my portfolio?

NOV and DOCU have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOV or DOCU?

DOCU has higher volatility (16.54%) compared to NOV (11.51%). In terms of maximum drawdown, NOV dropped -89.77% vs DOCU's -87.57%.

Which has better risk-adjusted returns?

NOV currently has the higher Sharpe Ratio (1.65 vs -0.92), 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.