NOVO-B.CO vs. DBMF
NOVO-B.CO (Novo Nordisk A/S) is a stock, while DBMF (iMGP DBi Managed Futures Strategy ETF) is Systematic Trend fund actively managed by iM Global Partners. Over the past 5 years, NOVO-B.CO returned 20.64%/yr vs 9.11%/yr for DBMF. At a 0.08 correlation, their price movements are largely independent.
Performance
NOVO-B.CO vs. DBMF - Performance Comparison
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Different Trading Currencies
NOVO-B.CO is traded in DKK, while DBMF is traded in USD. To make them comparable, the DBMF 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 -8.64% return, which is significantly lower than DBMF's 12.04% return.
NOVO-B.CO
- 1D
- 1.66%
- 1M
- -3.99%
- YTD
- -8.64%
- 6M
- -7.47%
- 1Y
- -41.76%
- 3Y*
- 4.58%
- 5Y*
- 20.64%
- 10Y*
- 17.36%
DBMF
- 1D
- 0.36%
- 1M
- -0.46%
- YTD
- 12.04%
- 6M
- 12.98%
- 1Y
- 27.06%
- 3Y*
- 7.24%
- 5Y*
- 9.11%
- 10Y*
- —
NOVO-B.CO vs. DBMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NOVO-B.CO Novo Nordisk A/S | -8.64% | -46.40% | -9.59% | 205.34% | 31.49% | 79.08% | 15.29% | 23.83% |
DBMF iMGP DBi Managed Futures Strategy ETF | 12.04% | 0.51% | 14.37% | -11.44% | 29.20% | 19.66% | -6.95% | 10.40% |
Correlation
The correlation between NOVO-B.CO and DBMF is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.08 |
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Return for Risk
NOVO-B.CO vs. DBMF — Risk / Return Rank
NOVO-B.CO
DBMF
NOVO-B.CO vs. DBMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NOVO-B.CO) and iMGP DBi Managed Futures Strategy ETF (DBMF). 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.
| NOVO-B.CO | DBMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -3.74 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.45 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 5.08 | -5.86 |
| Martin ratioReturn relative to average drawdown | -1.15 | 17.94 | -19.09 |
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Drawdowns
NOVO-B.CO vs. DBMF - Drawdown Comparison
The maximum NOVO-B.CO drawdown since its inception was -76.75%, which is greater than DBMF's maximum drawdown of -29.07%. Use the drawdown chart below to compare losses from any high point for NOVO-B.CO and DBMF.
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Drawdown Indicators
| NOVO-B.CO | DBMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.75% | -29.07% | -47.68% |
Max Drawdown (1Y)Largest decline over 1 year | -54.63% | -5.49% | -49.14% |
Max Drawdown (3Y)Largest decline over 3 years | -76.75% | -19.50% | -57.25% |
Max Drawdown (5Y)Largest decline over 5 years | -76.75% | -29.07% | -47.68% |
Max Drawdown (10Y)Largest decline over 10 years | -76.75% | — | — |
Current DrawdownCurrent decline from peak | -70.15% | -7.25% | -62.90% |
Average DrawdownAverage peak-to-trough decline | -11.29% | -12.82% | +1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.11% | 1.55% | +35.56% |
Volatility
NOVO-B.CO vs. DBMF - Volatility Comparison
Novo Nordisk A/S (NOVO-B.CO) has a higher volatility of 11.47% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 2.60%. This indicates that NOVO-B.CO's price experiences larger fluctuations and is considered to be riskier than DBMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOVO-B.CO | DBMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.47% | 2.60% | +8.87% |
Volatility (6M)Calculated over the trailing 6-month period | 39.57% | 9.99% | +29.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.40% | 12.84% | +41.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.56% | 16.03% | +42.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.08% | 15.25% | +29.83% |
Dividends
NOVO-B.CO vs. DBMF - Dividend Comparison
NOVO-B.CO's dividend yield for the trailing twelve months is around 4.07%, less than DBMF's 5.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 5.19% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% | 0.00% | 0.00% | 0.00% | 0.00% |
NOVO-B.CO Novo Nordisk A/S | 4.07% | 3.58% | 1.59% | 1.01% | 2.38% | 2.54% | 4.03% | 4.22% | 5.27% | 4.54% | 7.38% | 2.50% |
Frequently Asked Questions
NOVO-B.CO and DBMF have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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