NVAX vs. NVO
NVAX (Novavax, Inc.) and NVO (Novo Nordisk A/S) are both stocks. Both are in the Healthcare sector — NVAX in Biotechnology, NVO in Drug Manufacturers - General. Over the past 10 years, NVAX returned -23.23%/yr vs 7.06%/yr for NVO. At a 0.17 correlation, their price movements are largely independent.
Performance
NVAX vs. NVO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NVAX achieves a 34.37% return, which is significantly higher than NVO's -10.58% return. Over the past 10 years, NVAX has underperformed NVO with an annualized return of -23.23%, while NVO has yielded a comparatively higher 7.06% annualized return.
NVAX
- 1D
- 5.49%
- 1M
- -6.13%
- YTD
- 34.37%
- 6M
- 34.98%
- 1Y
- 27.36%
- 3Y*
- 5.09%
- 5Y*
- -46.69%
- 10Y*
- -23.23%
NVO
- 1D
- 2.69%
- 1M
- -6.47%
- YTD
- -10.58%
- 6M
- -9.53%
- 1Y
- -41.56%
- 3Y*
- -15.73%
- 5Y*
- 2.96%
- 10Y*
- 7.06%
NVAX vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVAX Novavax, Inc. | 34.37% | -16.42% | 67.50% | -53.31% | -92.81% | 28.30% | 2,701.76% | -89.18% | 48.39% | -1.59% |
NVO Novo Nordisk A/S | -10.58% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between NVAX and NVO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 1995 | 0.17 |
The correlation between NVAX and NVO shifts across timeframes, from 0.17 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
NVAX:
$1.47B
NVO:
$195.56B
NVAX:
-$0.52
NVO:
DKK 27.42
NVAX:
2.56
NVO:
3.86
NVAX:
$596.34M
NVO:
DKK 327.80B
NVAX:
$504.72M
NVO:
DKK 268.30B
NVAX:
-$57.01M
NVO:
DKK 181.54B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NVAX vs. NVO — Risk / Return Rank
NVAX
NVO
NVAX vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novavax, Inc. (NVAX) and Novo Nordisk A/S (NVO). 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.
| NVAX | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 0.86 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | -0.76 | +1.52 |
| Martin ratioReturn relative to average drawdown | 1.49 | -1.11 | +2.59 |
Loading charts...
Drawdowns
NVAX vs. NVO - Drawdown Comparison
The maximum NVAX drawdown since its inception was -98.82%, which is greater than NVO's maximum drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for NVAX and NVO.
Loading charts...
Drawdown Indicators
| NVAX | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.82% | -74.70% | -24.12% |
Max Drawdown (1Y)Largest decline over 1 year | -35.94% | -55.03% | +19.09% |
Max Drawdown (3Y)Largest decline over 3 years | -74.11% | -74.70% | +0.59% |
Max Drawdown (5Y)Largest decline over 5 years | -98.61% | -74.70% | -23.91% |
Max Drawdown (10Y)Largest decline over 10 years | -98.82% | -74.70% | -24.12% |
Current DrawdownCurrent decline from peak | -97.18% | -68.06% | -29.12% |
Average DrawdownAverage peak-to-trough decline | -70.76% | -17.78% | -52.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 37.52% | -19.06% |
Volatility
NVAX vs. NVO - Volatility Comparison
Novavax, Inc. (NVAX) has a higher volatility of 23.98% compared to Novo Nordisk A/S (NVO) at 10.69%. This indicates that NVAX's price experiences larger fluctuations and is considered to be riskier than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NVAX | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.98% | 10.69% | +13.29% |
Volatility (6M)Calculated over the trailing 6-month period | 52.24% | 38.46% | +13.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.90% | 51.88% | +17.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 106.10% | 38.34% | +67.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 115.50% | 32.56% | +82.94% |
Dividends
NVAX vs. NVO - Dividend Comparison
NVAX has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 4.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVAX Novavax, 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% |
NVO Novo Nordisk A/S | 4.10% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Financials
NVAX vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between Novavax, Inc. and Novo Nordisk A/S. 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
NVAX vs. NVO - Profitability Comparison
NVAX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Novavax, Inc. reported a gross profit of 108.82M and revenue of 139.51M. Therefore, the gross margin over that period was 78.0%.
NVO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Novo Nordisk A/S reported a gross profit of 83.23B and revenue of 96.82B. Therefore, the gross margin over that period was 86.0%.
NVAX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Novavax, Inc. reported an operating income of -15.43M and revenue of 139.51M, resulting in an operating margin of -11.1%.
NVO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Novo Nordisk A/S reported an operating income of 59.62B and revenue of 96.82B, resulting in an operating margin of 61.6%.
NVAX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Novavax, Inc. reported a net income of -9.49M and revenue of 139.51M, resulting in a net margin of -6.8%.
NVO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Novo Nordisk A/S reported a net income of 48.56B and revenue of 96.82B, resulting in a net margin of 50.2%.
Frequently Asked Questions
NVAX and NVO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVAX has higher volatility (23.98%) compared to NVO (10.69%). In terms of maximum drawdown, NVAX dropped -98.82% vs NVO's -74.70%.
NVAX currently has the higher Sharpe Ratio (0.40 vs -0.80), 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.
Find the right allocation for NVAX and NVO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer