NOVN.SW vs. USD=X
NOVN.SW (Novartis AG) is a stock, while USD=X (USD Cash) is a currency. Over the past 10 years, NOVN.SW returned 11.77%/yr vs -1.92%/yr for USD=X. At a 0.14 correlation, their price movements are largely independent.
Performance
NOVN.SW vs. USD=X - Performance Comparison
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Different Trading Currencies
NOVN.SW is traded in CHF, while USD=X is traded in USD. To make them comparable, the USD=X 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 18.03% return, which is significantly higher than USD=X's 2.43% return. Over the past 10 years, NOVN.SW has outperformed USD=X with an annualized return of 11.77%, while USD=X has yielded a comparatively lower -1.92% annualized return.
NOVN.SW
- 1D
- 1.98%
- 1M
- 6.12%
- 6M
- 13.22%
- YTD
- 18.03%
- 1Y
- 41.30%
- 3Y*
- 22.27%
- 5Y*
- 16.87%
- 10Y*
- 11.77%
- ALL TIME*
- 8.69%
USD=X
- 1D
- 0.00%
- 1M
- 0.55%
- 6M
- 2.89%
- YTD
- 2.43%
- 1Y
- 1.85%
- 3Y*
- -2.09%
- 5Y*
- -2.43%
- 10Y*
- -1.92%
- ALL TIME*
- -1.94%
NOVN.SW vs. USD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOVN.SW Novartis AG | 18.03% | 27.98% | 8.44% | 28.10% | 8.50% | -0.33% | -5.58% | 28.24% | 6.26% | 15.78% |
USD=X USD Cash | 2.43% | -12.62% | 7.88% | -8.95% | 1.37% | 2.95% | -8.43% | -1.70% | 0.97% | -4.25% |
Correlation
The correlation between NOVN.SW and USD=X is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2007 | 0.14 |
The correlation between NOVN.SW and USD=X shifts across timeframes, from -0.02 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NOVN.SW vs. USD=X — Risk / Return Rank
NOVN.SW
USD=X
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NOVN.SW vs. USD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novartis AG (NOVN.SW) and USD Cash (USD=X). 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.
| NOVN.SW | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.85 | ||
| Sortino ratioReturn per unit of downside risk | +2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.06 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.89 | 0.39 | +3.50 |
| Martin ratioReturn relative to average drawdown | 9.55 | 0.89 | +8.66 |
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Drawdowns
NOVN.SW vs. USD=X - Drawdown Comparison
The maximum NOVN.SW drawdown since its inception was -42.59%, roughly equal to the maximum USD=X drawdown of -41.14%. Use the drawdown chart below to compare losses from any high point for NOVN.SW and USD=X.
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Drawdown Indicators
| NOVN.SW | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.59% | -41.14% | -1.45% |
Max Drawdown (1Y)Largest decline over 1 year | -10.78% | -6.64% | -4.14% |
Max Drawdown (3Y)Largest decline over 3 years | -16.86% | -17.43% | +0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -16.86% | -24.87% | +8.01% |
Max Drawdown (10Y)Largest decline over 10 years | -24.26% | -26.13% | +1.87% |
Current DrawdownCurrent decline from peak | -1.94% | -33.65% | +31.71% |
Average DrawdownAverage peak-to-trough decline | -11.46% | -22.03% | +10.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.36% | 2.63% | +1.73% |
Volatility
NOVN.SW vs. USD=X - Volatility Comparison
Novartis AG (NOVN.SW) has a higher volatility of 6.22% compared to USD Cash (USD=X) at 1.71%. This indicates that NOVN.SW's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOVN.SW | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.22% | 1.71% | +4.51% |
Volatility (6M)Calculated over the trailing 6-month period | 14.13% | 5.97% | +8.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.13% | 6.42% | +12.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.12% | 6.89% | +12.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.82% | 6.31% | +12.51% |
Frequently Asked Questions
NOVN.SW and USD=X have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for NOVN.SW and USD=X
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