NVMI vs. ONTO
NVMI (Nova Ltd) and ONTO (Onto Innovation Inc.) are both stocks. Both operate in the Semiconductor Equipment & Materials industry within the Technology sector. Over the past 10 years, NVMI returned 47.04%/yr vs 31.65%/yr for ONTO. At a 0.38 correlation, their price movements are largely independent.
Performance
NVMI vs. ONTO - Performance Comparison
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Returns By Period
In the year-to-date period, NVMI achieves a 60.75% return, which is significantly lower than ONTO's 100.10% return. Over the past 10 years, NVMI has outperformed ONTO with an annualized return of 47.04%, while ONTO has yielded a comparatively lower 31.65% annualized return.
NVMI
- 1D
- -9.47%
- 1M
- 4.84%
- YTD
- 60.75%
- 6M
- 58.07%
- 1Y
- 125.49%
- 3Y*
- 67.33%
- 5Y*
- 38.83%
- 10Y*
- 47.04%
ONTO
- 1D
- -9.20%
- 1M
- 20.45%
- YTD
- 100.10%
- 6M
- 96.04%
- 1Y
- 236.79%
- 3Y*
- 44.15%
- 5Y*
- 34.48%
- 10Y*
- 31.65%
NVMI vs. ONTO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVMI Nova Ltd | 60.75% | 66.74% | 43.35% | 68.21% | -44.25% | 107.51% | 86.62% | 66.07% | -12.08% | 96.88% |
ONTO Onto Innovation Inc. | 100.10% | -5.29% | 9.01% | 124.56% | -32.74% | 112.89% | 30.13% | 33.70% | 9.67% | -0.56% |
Correlation
The correlation between NVMI and ONTO is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2000 | 0.38 |
Over the past year, NVMI and ONTO have become more correlated (0.72) than their long-term average of 0.38, meaning their price movements have been converging.
Fundamentals
NVMI:
$18.18B
ONTO:
$15.80B
NVMI:
$7.94
ONTO:
$2.15
NVMI:
66.47
ONTO:
146.69
NVMI:
2.30
ONTO:
13.15
NVMI:
19.42
ONTO:
15.15
NVMI:
13.10
ONTO:
7.41
NVMI:
$902.53M
ONTO:
$1.03B
NVMI:
$518.59M
ONTO:
$502.93M
NVMI:
$293.89M
ONTO:
$177.93M
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Return for Risk
NVMI vs. ONTO — Risk / Return Rank
NVMI
ONTO
NVMI vs. ONTO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nova Ltd (NVMI) and Onto Innovation Inc. (ONTO). 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.
| NVMI | ONTO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.47 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 5.85 | 11.78 | -5.92 |
| Martin ratioReturn relative to average drawdown | 15.48 | 31.92 | -16.45 |
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Drawdowns
NVMI vs. ONTO - Drawdown Comparison
The maximum NVMI drawdown since its inception was -98.22%, roughly equal to the maximum ONTO drawdown of -98.56%. Use the drawdown chart below to compare losses from any high point for NVMI and ONTO.
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Drawdown Indicators
| NVMI | ONTO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.22% | -98.56% | +0.34% |
Max Drawdown (1Y)Largest decline over 1 year | -21.56% | -20.24% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -40.79% | -62.82% | +22.03% |
Max Drawdown (5Y)Largest decline over 5 years | -52.76% | -62.82% | +10.06% |
Max Drawdown (10Y)Largest decline over 10 years | -52.76% | -62.82% | +10.06% |
Current DrawdownCurrent decline from peak | -12.84% | -9.20% | -3.64% |
Average DrawdownAverage peak-to-trough decline | -51.71% | -54.66% | +2.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.14% | 7.45% | +0.69% |
Volatility
NVMI vs. ONTO - Volatility Comparison
Nova Ltd (NVMI) and Onto Innovation Inc. (ONTO) have volatilities of 24.62% and 24.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVMI | ONTO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.62% | 24.48% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 43.40% | 45.36% | -1.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.40% | 58.67% | -3.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.95% | 56.05% | -8.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.66% | 51.56% | -7.90% |
Dividends
NVMI vs. ONTO - Dividend Comparison
Neither NVMI nor ONTO has paid dividends to shareholders.
Financials
NVMI vs. ONTO - Financials Comparison
This section allows you to compare key financial metrics between Nova Ltd and Onto Innovation Inc.. 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
NVMI vs. ONTO - Profitability Comparison
NVMI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nova Ltd reported a gross profit of 135.69M and revenue of 235.31M. Therefore, the gross margin over that period was 57.7%.
ONTO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Onto Innovation Inc. reported a gross profit of 146.39M and revenue of 291.95M. Therefore, the gross margin over that period was 50.1%.
NVMI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nova Ltd reported an operating income of 70.84M and revenue of 235.31M, resulting in an operating margin of 30.1%.
ONTO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Onto Innovation Inc. reported an operating income of 33.51M and revenue of 291.95M, resulting in an operating margin of 11.5%.
NVMI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nova Ltd reported a net income of 69.26M and revenue of 235.31M, resulting in a net margin of 29.4%.
ONTO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Onto Innovation Inc. reported a net income of 33.75M and revenue of 291.95M, resulting in a net margin of 11.6%.
Frequently Asked Questions
NVMI and ONTO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVMI has higher volatility (24.62%) compared to ONTO (24.48%). In terms of maximum drawdown, NVMI dropped -98.22% vs ONTO's -98.56%.
ONTO currently has the higher Sharpe Ratio (4.07 vs 2.28), 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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