NOVT vs. IPGP
NOVT (Novanta Inc.) and IPGP (IPG Photonics Corporation) are both stocks. Both are in the Technology sector — NOVT in Scientific & Technical Instruments, IPGP in Semiconductor Equipment & Materials. Over the past 10 years, NOVT returned 25.54%/yr vs 3.00%/yr for IPGP. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
NOVT vs. IPGP - Performance Comparison
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Returns By Period
In the year-to-date period, NOVT achieves a 27.19% return, which is significantly lower than IPGP's 50.35% return. Over the past 10 years, NOVT has outperformed IPGP with an annualized return of 25.54%, while IPGP has yielded a comparatively lower 3.00% annualized return.
NOVT
- 1D
- -2.78%
- 1M
- -5.23%
- YTD
- 27.19%
- 6M
- 23.68%
- 1Y
- 23.31%
- 3Y*
- -3.56%
- 5Y*
- 2.99%
- 10Y*
- 25.54%
IPGP
- 1D
- -8.77%
- 1M
- -9.54%
- YTD
- 50.35%
- 6M
- 44.48%
- 1Y
- 59.65%
- 3Y*
- -6.90%
- 5Y*
- -12.57%
- 10Y*
- 3.00%
NOVT vs. IPGP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOVT Novanta Inc. | 27.19% | -22.11% | -9.29% | 23.95% | -22.95% | 49.15% | 33.67% | 40.38% | 26.00% | 138.10% |
IPGP IPG Photonics Corporation | 50.35% | -1.54% | -33.00% | 14.65% | -45.00% | -23.08% | 54.42% | 27.92% | -47.09% | 116.93% |
Correlation
The correlation between NOVT and IPGP 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 | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.55 |
The correlation between NOVT and IPGP has been stable across timeframes, ranging from 0.48 to 0.56 - a consistent structural relationship.
Fundamentals
NOVT:
$6.23B
IPGP:
$4.62B
NOVT:
$1.41
IPGP:
$0.68
NOVT:
107.02
IPGP:
158.81
NOVT:
29.84
IPGP:
14.16
NOVT:
5.72
IPGP:
4.41
NOVT:
4.75
IPGP:
2.18
NOVT:
$1.00B
IPGP:
$1.04B
NOVT:
$444.51M
IPGP:
$391.15M
NOVT:
$150.84M
IPGP:
$73.19M
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Return for Risk
NOVT vs. IPGP — Risk / Return Rank
NOVT
IPGP
NOVT vs. IPGP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novanta Inc. (NOVT) and IPG Photonics Corporation (IPGP). 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.
| NOVT | IPGP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.24 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 1.46 | -0.59 |
| Martin ratioReturn relative to average drawdown | 1.81 | 3.87 | -2.06 |
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Drawdowns
NOVT vs. IPGP - Drawdown Comparison
The maximum NOVT drawdown since its inception was -46.71%, smaller than the maximum IPGP drawdown of -81.13%. Use the drawdown chart below to compare losses from any high point for NOVT and IPGP.
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Drawdown Indicators
| NOVT | IPGP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.71% | -81.13% | +34.42% |
Max Drawdown (1Y)Largest decline over 1 year | -26.97% | -40.98% | +14.01% |
Max Drawdown (3Y)Largest decline over 3 years | -46.71% | -64.44% | +17.73% |
Max Drawdown (5Y)Largest decline over 5 years | -46.71% | -77.23% | +30.52% |
Max Drawdown (10Y)Largest decline over 10 years | -46.71% | -81.13% | +34.42% |
Current DrawdownCurrent decline from peak | -18.72% | -59.12% | +40.40% |
Average DrawdownAverage peak-to-trough decline | -12.30% | -34.43% | +22.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.91% | 15.48% | -2.57% |
Volatility
NOVT vs. IPGP - Volatility Comparison
The current volatility for Novanta Inc. (NOVT) is 13.11%, while IPG Photonics Corporation (IPGP) has a volatility of 21.60%. This indicates that NOVT experiences smaller price fluctuations and is considered to be less risky than IPGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOVT | IPGP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.11% | 21.60% | -8.49% |
Volatility (6M)Calculated over the trailing 6-month period | 34.56% | 61.54% | -26.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.77% | 67.32% | -17.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.21% | 47.54% | -7.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.05% | 45.34% | -6.29% |
Dividends
NOVT vs. IPGP - Dividend Comparison
Neither NOVT nor IPGP has paid dividends to shareholders.
Financials
NOVT vs. IPGP - Financials Comparison
This section allows you to compare key financial metrics between Novanta Inc. and IPG Photonics Corporation. 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
NOVT vs. IPGP - Profitability Comparison
NOVT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Novanta Inc. reported a gross profit of 113.58M and revenue of 257.71M. Therefore, the gross margin over that period was 44.1%.
IPGP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, IPG Photonics Corporation reported a gross profit of 99.50M and revenue of 265.50M. Therefore, the gross margin over that period was 37.5%.
NOVT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Novanta Inc. reported an operating income of 27.54M and revenue of 257.71M, resulting in an operating margin of 10.7%.
IPGP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, IPG Photonics Corporation reported an operating income of -7.74M and revenue of 265.50M, resulting in an operating margin of -2.9%.
NOVT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Novanta Inc. reported a net income of 21.10M and revenue of 257.71M, resulting in a net margin of 8.2%.
IPGP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, IPG Photonics Corporation reported a net income of 1.58M and revenue of 265.50M, resulting in a net margin of 0.6%.
Frequently Asked Questions
NOVT and IPGP 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.
IPGP has higher volatility (21.60%) compared to NOVT (13.11%). In terms of maximum drawdown, NOVT dropped -46.71% vs IPGP's -81.13%.
IPGP currently has the higher Sharpe Ratio (0.89 vs 0.47), 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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