NOVN.SW vs. RHHBY

Last updated Jun 4, 2026

NOVN.SW (Novartis AG) and RHHBY (Roche Holding AG) are both stocks. Both operate in the Drug Manufacturers - General industry within the Healthcare sector. Over the past 10 years, NOVN.SW returned 9.76%/yr vs 4.91%/yr for RHHBY. At a 0.47 correlation, their price movements are largely independent.

Performance

NOVN.SW vs. RHHBY - Performance Comparison

The chart below illustrates the hypothetical performance of a CHF 10,000 investment in Novartis AG (NOVN.SW) and Roche Holding AG (RHHBY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NOVN.SW is traded in CHF, while RHHBY is traded in USD. To make them comparable, the RHHBY values have been converted to CHF using the latest available exchange rates.

Returns By Period

In the year-to-date period, NOVN.SW achieves a 6.73% return, which is significantly higher than RHHBY's -2.34% return. Over the past 10 years, NOVN.SW has outperformed RHHBY with an annualized return of 9.76%, while RHHBY has yielded a comparatively lower 4.91% annualized return.

NOVN.SW

• 1D: 0.46%
• 1M: -0.28%
• YTD: 6.73%
• 6M: 8.91%
• 1Y: 22.74%
• 3Y*: 14.07%
• 5Y*: 12.31%
• 10Y*: 9.76%

RHHBY

• 1D: 0.46%
• 1M: -1.67%
• YTD: -2.34%
• 6M: 2.17%
• 1Y: 21.29%
• 3Y*: 5.42%
• 5Y*: 2.79%
• 10Y*: 4.91%

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

NOVN.SW vs. RHHBY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOVN.SW Novartis AG	6.73%	27.98%	8.44%	11.93%	8.75%	-0.11%	-5.39%	28.50%	6.51%	16.04%
RHHBY Roche Holding AG	-2.34%	33.57%	8.13%	-12.62%	-21.15%	23.74%	0.67%	31.20%	3.15%	9.46%

Correlation

The correlation between NOVN.SW and RHHBY is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Aug 28, 2007	0.47

The correlation between NOVN.SW and RHHBY shifts across timeframes, from 0.39 (5 years) to 0.53 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NOVN.SW vs. RHHBY — Risk / Return Rank

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

NOVN.SW

NOVN.SW Risk / Return Rank: 73
NOVN.SW Sharpe Ratio Rank: 77
NOVN.SW Sortino Ratio Rank: 69
NOVN.SW Omega Ratio Rank: 69
NOVN.SW Calmar Ratio Rank: 75
NOVN.SW Martin Ratio Rank: 76

RHHBY

RHHBY Risk / Return Rank: 67
RHHBY Sharpe Ratio Rank: 70
RHHBY Sortino Ratio Rank: 67
RHHBY Omega Ratio Rank: 64
RHHBY Calmar Ratio Rank: 66
RHHBY Martin Ratio Rank: 67

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.

NOVN.SW vs. RHHBY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novartis AG (NOVN.SW) and Roche Holding AG (RHHBY). 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.

	NOVN.SW	RHHBY	Difference
Sharpe ratio: Return per unit of total volatility	1.26	0.82	+0.44
Sortino ratio: Return per unit of downside risk	1.71	1.40	+0.30
Omega ratio: Gain probability vs. loss probability	1.23	1.17	+0.06
Calmar ratio: Return relative to maximum drawdown	2.15	1.19	+0.96
Martin ratio: Return relative to average drawdown	5.22	2.90	+2.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOVN.SW vs. RHHBY - Sharpe Ratio Comparison

The current NOVN.SW Sharpe Ratio is 1.26, which is higher than the RHHBY Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of NOVN.SW and RHHBY, 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

	NOVN.SW	RHHBY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	0.82	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.13	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.22	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.23	+0.26

Drawdowns

NOVN.SW vs. RHHBY - Drawdown Comparison

The maximum NOVN.SW drawdown since its inception was -42.25%, roughly equal to the maximum RHHBY drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for NOVN.SW and RHHBY.

Drawdown Indicators

	NOVN.SW	RHHBY	Difference
Max Drawdown Largest peak-to-trough decline	-42.25%	-42.37%	+0.12%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-17.97%	+7.19%
Max Drawdown (3Y) Largest decline over 3 years	-16.86%	-23.99%	+7.13%
Max Drawdown (5Y) Largest decline over 5 years	-16.86%	-42.37%	+25.51%
Max Drawdown (10Y) Largest decline over 10 years	-24.11%	-42.37%	+18.26%
Current Drawdown Current decline from peak	-10.36%	-14.79%	+4.43%
Average Drawdown Average peak-to-trough decline	-11.40%	-14.74%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	7.35%	-2.95%

Volatility

NOVN.SW vs. RHHBY - Volatility Comparison

The current volatility for Novartis AG (NOVN.SW) is 5.93%, while Roche Holding AG (RHHBY) has a volatility of 6.43%. This indicates that NOVN.SW experiences smaller price fluctuations and is considered to be less risky than RHHBY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOVN.SW	RHHBY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	6.43%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	13.06%	16.93%	-3.87%
Volatility (1Y) Calculated over the trailing 1-year period	18.43%	26.15%	-7.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.79%	22.16%	-4.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.22%	22.17%	-3.95%

Dividends

NOVN.SW vs. RHHBY - Dividend Comparison

NOVN.SW's dividend yield for the trailing twelve months is around 3.26%, more than RHHBY's 3.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOVN.SW Novartis AG	3.26%	3.19%	3.72%	3.77%	3.91%	3.94%	3.72%	3.27%	3.98%	3.98%	4.35%	3.58%
RHHBY Roche Holding AG	3.16%	2.69%	3.87%	3.55%	3.23%	1.57%	1.66%	1.70%	3.58%	3.25%	3.57%	2.91%

Financials

Frequently Asked Questions

Can I hold both NOVN.SW and RHHBY in my portfolio?

NOVN.SW and RHHBY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.