NUVL vs. EQT

Last updated Jun 5, 2026

NUVL (Nuvalent, Inc.) and EQT (EQT Corporation) are both stocks. NUVL operates in Biotechnology (Healthcare), while EQT operates in Oil & Gas E&P (Energy). Over the past 3 years, NUVL returned 28.83%/yr vs 16.95%/yr for EQT. At a 0.11 correlation, their price movements are largely independent.

Performance

NUVL vs. EQT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuvalent, Inc. (NUVL) and EQT Corporation (EQT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUVL achieves a -6.53% return, which is significantly lower than EQT's 3.64% return.

NUVL

• 1D: 4.26%
• 1M: -7.34%
• YTD: -6.53%
• 6M: -12.02%
• 1Y: 22.39%
• 3Y*: 28.83%
• 5Y*: —
• 10Y*: —

EQT

• 1D: 1.41%
• 1M: -5.66%
• YTD: 3.64%
• 6M: -7.52%
• 1Y: 0.71%
• 3Y*: 16.95%
• 5Y*: 22.48%
• 10Y*: 4.11%

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

NUVL vs. EQT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NUVL Nuvalent, Inc.	-6.53%	28.50%	6.37%	147.11%	56.41%	1.55%
EQT EQT Corporation	3.64%	17.64%	21.41%	16.20%	57.64%	16.69%

Correlation

The correlation between NUVL and EQT 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	0.07
Correlation (All Time) Calculated using the full available price history since Jul 30, 2021	0.11

The correlation between NUVL and EQT shifts across timeframes, from -0.06 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NUVL : $7.40B EQT : $34.53B
EPS NUVL : -$6.05 EQT : $5.40
PB Ratio NUVL : 6.30 EQT : 1.37
Total Revenue (TTM) NUVL : $0.00 EQT : $10.03B
Gross Profit (TTM) NUVL : $0.00 EQT : $6.43B
EBITDA (TTM) NUVL : -$362.61M EQT : $7.48B

Return for Risk

NUVL vs. EQT — Risk / Return Rank

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

NUVL

NUVL Risk / Return Rank: 59
NUVL Sharpe Ratio Rank: 59
NUVL Sortino Ratio Rank: 54
NUVL Omega Ratio Rank: 53
NUVL Calmar Ratio Rank: 64
NUVL Martin Ratio Rank: 66

EQT

EQT Risk / Return Rank: 40
EQT Sharpe Ratio Rank: 42
EQT Sortino Ratio Rank: 37
EQT Omega Ratio Rank: 37
EQT Calmar Ratio Rank: 42
EQT Martin Ratio Rank: 41

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.

NUVL vs. EQT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuvalent, Inc. (NUVL) and EQT Corporation (EQT). 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.

	NUVL	EQT	Difference
Sharpe ratio: Return per unit of total volatility	0.52	0.02	+0.49
Sortino ratio: Return per unit of downside risk	0.98	0.26	+0.73
Omega ratio: Gain probability vs. loss probability	1.12	1.03	+0.09
Calmar ratio: Return relative to maximum drawdown	1.15	0.04	+1.12
Martin ratio: Return relative to average drawdown	2.92	0.07	+2.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUVL vs. EQT - Sharpe Ratio Comparison

The current NUVL Sharpe Ratio is 0.52, which is higher than the EQT Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of NUVL and EQT, 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

	NUVL	EQT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	0.02	+0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.53	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.30	+0.23

Drawdowns

NUVL vs. EQT - Drawdown Comparison

The maximum NUVL drawdown since its inception was -80.70%, smaller than the maximum EQT drawdown of -91.51%. Use the drawdown chart below to compare losses from any high point for NUVL and EQT.

Drawdown Indicators

	NUVL	EQT	Difference
Max Drawdown Largest peak-to-trough decline	-80.70%	-91.51%	+10.81%
Max Drawdown (1Y) Largest decline over 1 year	-19.47%	-19.59%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-47.12%	-31.62%	-15.50%
Max Drawdown (5Y) Largest decline over 5 years	—	-42.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-88.28%	—
Current Drawdown Current decline from peak	-16.18%	-18.45%	+2.27%
Average Drawdown Average peak-to-trough decline	-25.23%	-23.34%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.68%	10.94%	-3.26%

Volatility

NUVL vs. EQT - Volatility Comparison

Nuvalent, Inc. (NUVL) has a higher volatility of 19.82% compared to EQT Corporation (EQT) at 7.87%. This indicates that NUVL's price experiences larger fluctuations and is considered to be riskier than EQT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUVL	EQT	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.82%	7.87%	+11.95%
Volatility (6M) Calculated over the trailing 6-month period	30.99%	21.57%	+9.42%
Volatility (1Y) Calculated over the trailing 1-year period	43.68%	32.57%	+11.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.81%	42.80%	+31.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.81%	48.91%	+24.90%

Dividends

NUVL vs. EQT - Dividend Comparison

NUVL has not paid dividends to shareholders, while EQT's dividend yield for the trailing twelve months is around 1.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQT EQT Corporation	1.18%	1.19%	1.37%	1.57%	1.63%	0.00%	0.24%	1.10%	0.42%	0.21%	0.18%	0.23%
NUVL Nuvalent, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both NUVL and EQT in my portfolio?

NUVL and EQT 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.

Which is riskier, NUVL or EQT?

NUVL has higher volatility (19.82%) compared to EQT (7.87%). In terms of maximum drawdown, NUVL dropped -80.70% vs EQT's -91.51%.

Which has better risk-adjusted returns?

NUVL currently has the higher Sharpe Ratio (0.52 vs 0.02), 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.