NOV vs. VNOM
NOV (National Oilwell Varco, Inc.) and VNOM (Viper Energy Partners LP) are both stocks. Both are in the Energy sector — NOV in Oil & Gas Equipment & Services, VNOM in Oil & Gas Midstream. Over the past 10 years, NOV returned -3.52%/yr vs 15.67%/yr for VNOM. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
NOV vs. VNOM - Performance Comparison
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Returns By Period
In the year-to-date period, NOV achieves a 37.04% return, which is significantly higher than VNOM's 17.90% return. Over the past 10 years, NOV has underperformed VNOM with an annualized return of -3.52%, while VNOM has yielded a comparatively higher 15.67% annualized 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%
VNOM
- 1D
- 1.56%
- 1M
- -9.39%
- YTD
- 17.90%
- 6M
- 12.90%
- 1Y
- 10.29%
- 3Y*
- 28.28%
- 5Y*
- 26.04%
- 10Y*
- 15.67%
NOV vs. VNOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOV National Oilwell Varco, Inc. | 37.04% | 11.30% | -26.81% | -1.83% | 55.72% | -0.89% | -44.93% | -1.69% | -28.28% | -3.23% |
VNOM Viper Energy Partners LP | 17.90% | -16.58% | 65.52% | 4.83% | 61.69% | 94.24% | -50.69% | 0.66% | 19.60% | 55.99% |
Correlation
The correlation between NOV and VNOM is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2014 | 0.51 |
The correlation between NOV and VNOM has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.
Fundamentals
NOV:
$7.69B
VNOM:
$8.05B
NOV:
$0.25
VNOM:
-$0.29
NOV:
0.90
VNOM:
4.34
NOV:
1.23
VNOM:
1.57
NOV:
$8.69B
VNOM:
$1.60B
NOV:
$1.70B
VNOM:
$740.00M
NOV:
$633.00M
VNOM:
$1.04B
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Return for Risk
NOV vs. VNOM — Risk / Return Rank
NOV
VNOM
NOV vs. VNOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Oilwell Varco, Inc. (NOV) and Viper Energy Partners LP (VNOM). 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 | VNOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.10 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.91 | 0.95 | +2.96 |
| Martin ratioReturn relative to average drawdown | 10.14 | 1.64 | +8.50 |
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Drawdowns
NOV vs. VNOM - Drawdown Comparison
The maximum NOV drawdown since its inception was -89.77%, roughly equal to the maximum VNOM drawdown of -86.96%. Use the drawdown chart below to compare losses from any high point for NOV and VNOM.
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Drawdown Indicators
| NOV | VNOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.77% | -86.96% | -2.81% |
Max Drawdown (1Y)Largest decline over 1 year | -16.10% | -14.09% | -2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -47.15% | -34.46% | -12.69% |
Max Drawdown (5Y)Largest decline over 5 years | -53.70% | -34.46% | -19.24% |
Max Drawdown (10Y)Largest decline over 10 years | -83.26% | -86.96% | +3.70% |
Current DrawdownCurrent decline from peak | -70.35% | -14.66% | -55.69% |
Average DrawdownAverage peak-to-trough decline | -45.20% | -31.64% | -13.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.20% | 8.18% | -1.98% |
Volatility
NOV vs. VNOM - Volatility Comparison
National Oilwell Varco, Inc. (NOV) has a higher volatility of 11.51% compared to Viper Energy Partners LP (VNOM) at 7.16%. This indicates that NOV's price experiences larger fluctuations and is considered to be riskier than VNOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOV | VNOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.51% | 7.16% | +4.35% |
Volatility (6M)Calculated over the trailing 6-month period | 26.13% | 19.95% | +6.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.20% | 29.28% | +8.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.45% | 35.89% | +6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.27% | 45.21% | +2.06% |
Dividends
NOV vs. VNOM - Dividend Comparison
NOV's dividend yield for the trailing twelve months is around 2.34%, less than VNOM's 5.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VNOM Viper Energy Partners LP | 5.21% | 6.03% | 4.89% | 5.58% | 7.68% | 5.16% | 5.85% | 7.38% | 8.14% | 5.27% | 4.83% | 6.16% |
Financials
NOV vs. VNOM - Financials Comparison
This section allows you to compare key financial metrics between National Oilwell Varco, Inc. and Viper Energy Partners LP. 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
NOV vs. VNOM - Profitability Comparison
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%.
VNOM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported a gross profit of 255.00M and revenue of 496.00M. Therefore, the gross margin over that period was 51.4%.
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%.
VNOM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported an operating income of 238.00M and revenue of 496.00M, resulting in an operating margin of 48.0%.
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%.
VNOM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported a net income of 97.00M and revenue of 496.00M, resulting in a net margin of 19.6%.
Frequently Asked Questions
NOV and VNOM have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOV has higher volatility (11.51%) compared to VNOM (7.16%). In terms of maximum drawdown, NOV dropped -89.77% vs VNOM's -86.96%.
NOV currently has the higher Sharpe Ratio (1.65 vs 0.46), 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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