NOVO-B.CO vs. BTC-USD

Last updated Jun 9, 2026

NOVO-B.CO (Novo Nordisk A/S) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, NOVO-B.CO returned 15.87%/yr vs 59.35%/yr for BTC-USD. At a 0.05 correlation, their price movements are largely independent.

Performance

NOVO-B.CO vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a DKK 10,000 investment in Novo Nordisk A/S (NOVO-B.CO) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NOVO-B.CO is traded in DKK, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to DKK using the latest available exchange rates.

Returns By Period

In the year-to-date period, NOVO-B.CO achieves a -14.51% return, which is significantly higher than BTC-USD's -27.22% return. Over the past 10 years, NOVO-B.CO has underperformed BTC-USD with an annualized return of 15.87%, while BTC-USD has yielded a comparatively higher 59.35% annualized return.

NOVO-B.CO

• 1D: -1.18%
• 1M: -7.41%
• YTD: -14.51%
• 6M: -7.00%
• 1Y: -42.63%
• 3Y*: 2.27%
• 5Y*: 19.11%
• 10Y*: 15.87%

BTC-USD

• 1D: -1.31%
• 1M: -20.36%
• YTD: -27.22%
• 6M: -30.40%
• 1Y: -41.46%
• 3Y*: 30.17%
• 5Y*: 12.14%
• 10Y*: 59.35%

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

NOVO-B.CO vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOVO-B.CO Novo Nordisk A/S	-14.51%	-46.40%	-9.59%	205.34%	31.49%	79.08%	15.29%	36.17%	-6.15%	39.57%
BTC-USD Bitcoin	-27.22%	-17.25%	136.69%	146.41%	-61.84%	71.09%	269.76%	98.63%	-73.40%	1,230.94%

Correlation

The correlation between NOVO-B.CO and BTC-USD is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Sep 24, 2012	0.05

Return for Risk

NOVO-B.CO vs. BTC-USD — Risk / Return Rank

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

NOVO-B.CO

NOVO-B.CO Risk / Return Rank: 13
NOVO-B.CO Sharpe Ratio Rank: 10
NOVO-B.CO Sortino Ratio Rank: 13
NOVO-B.CO Omega Ratio Rank: 12
NOVO-B.CO Calmar Ratio Rank: 12
NOVO-B.CO Martin Ratio Rank: 17

BTC-USD

BTC-USD Risk / Return Rank: 28
BTC-USD Sharpe Ratio Rank: 12
BTC-USD Sortino Ratio Rank: 33
BTC-USD Omega Ratio Rank: 33
BTC-USD Calmar Ratio Rank: 46
BTC-USD Martin Ratio Rank: 16

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.

NOVO-B.CO vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NOVO-B.CO) and Bitcoin (BTC-USD). 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.

	NOVO-B.CO	BTC-USD	Difference
Sharpe ratio: Return per unit of total volatility	-0.79	-0.97	+0.18
Sortino ratio: Return per unit of downside risk	-0.93	-1.37	+0.44
Omega ratio: Gain probability vs. loss probability	0.87	0.85	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.79	-0.83	+0.04
Martin ratio: Return relative to average drawdown	-1.16	-1.45	+0.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOVO-B.CO vs. BTC-USD - Sharpe Ratio Comparison

The current NOVO-B.CO Sharpe Ratio is -0.79, which is comparable to the BTC-USD Sharpe Ratio of -0.97. The chart below compares the historical Sharpe Ratios of NOVO-B.CO and BTC-USD, 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

	NOVO-B.CO	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.79	-0.97	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.23	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.88	-0.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	1.13	-0.35

Drawdowns

NOVO-B.CO vs. BTC-USD - Drawdown Comparison

The maximum NOVO-B.CO drawdown since its inception was -76.75%, smaller than the maximum BTC-USD drawdown of -83.10%. Use the drawdown chart below to compare losses from any high point for NOVO-B.CO and BTC-USD.

Drawdown Indicators

	NOVO-B.CO	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-76.75%	-83.10%	+6.35%
Max Drawdown (1Y) Largest decline over 1 year	-54.94%	-50.19%	-4.75%
Max Drawdown (3Y) Largest decline over 3 years	-76.75%	-50.19%	-26.56%
Max Drawdown (5Y) Largest decline over 5 years	-76.75%	-73.61%	-3.14%
Max Drawdown (10Y) Largest decline over 10 years	-76.75%	-82.45%	+5.70%
Current Drawdown Current decline from peak	-72.07%	-49.05%	-23.02%
Average Drawdown Average peak-to-trough decline	-11.25%	-39.97%	+28.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.82%	34.20%	+2.62%

Volatility

NOVO-B.CO vs. BTC-USD - Volatility Comparison

The current volatility for Novo Nordisk A/S (NOVO-B.CO) is 10.59%, while Bitcoin (BTC-USD) has a volatility of 11.44%. This indicates that NOVO-B.CO experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOVO-B.CO	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.59%	11.44%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	39.29%	34.76%	+4.53%
Volatility (1Y) Calculated over the trailing 1-year period	54.59%	35.46%	+19.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.54%	44.96%	+13.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.06%	55.98%	-10.92%

Frequently Asked Questions

Can I hold both NOVO-B.CO and BTC-USD in my portfolio?

NOVO-B.CO and BTC-USD have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.