NVO vs. ^GSPC
NVO (Novo Nordisk A/S) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, NVO returned 8.18%/yr vs 13.09%/yr for ^GSPC. At a 0.32 correlation, their price movements are largely independent.
Performance
NVO vs. ^GSPC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NVO achieves a 0.91% return, which is significantly lower than ^GSPC's 8.73% return. Over the past 10 years, NVO has underperformed ^GSPC with an annualized return of 8.18%, while ^GSPC has yielded a comparatively higher 13.09% annualized return.
NVO
- 1D
- -1.41%
- 1M
- 14.86%
- 6M
- -17.63%
- YTD
- 0.91%
- 1Y
- -19.26%
- 3Y*
- -13.51%
- 5Y*
- 4.43%
- 10Y*
- 8.18%
- ALL TIME*
- 14.52%
^GSPC
- 1D
- -0.19%
- 1M
- -0.76%
- 6M
- 7.25%
- YTD
- 8.73%
- 1Y
- 18.21%
- 3Y*
- 17.95%
- 5Y*
- 11.30%
- 10Y*
- 13.09%
- ALL TIME*
- 8.08%
NVO vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | 0.91% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
^GSPC S&P 500 Index | 8.73% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between NVO and ^GSPC is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1982 | 0.32 |
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
NVO vs. ^GSPC — Risk / Return Rank
NVO
^GSPC
NVO vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and S&P 500 Index (^GSPC). 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.
| NVO | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.21 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.26 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 2.01 | -2.40 |
| Martin ratioReturn relative to average drawdown | -0.61 | 8.68 | -9.29 |
Loading charts...
Drawdowns
NVO vs. ^GSPC - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for NVO and ^GSPC.
Loading charts...
Drawdown Indicators
| NVO | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -56.78% | -17.92% |
Max Drawdown (1Y)Largest decline over 1 year | -49.17% | -9.10% | -40.07% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -18.90% | -55.80% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -25.43% | -49.27% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -33.92% | -40.78% |
Current DrawdownCurrent decline from peak | -63.95% | -2.19% | -61.76% |
Average DrawdownAverage peak-to-trough decline | -17.89% | -10.70% | -7.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.75% | 2.10% | +29.65% |
Volatility
NVO vs. ^GSPC - Volatility Comparison
Novo Nordisk A/S (NVO) has a higher volatility of 9.48% compared to S&P 500 Index (^GSPC) at 3.13%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NVO | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 3.13% | +6.35% |
Volatility (6M)Calculated over the trailing 6-month period | 37.43% | 10.04% | +27.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.79% | 12.62% | +39.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.58% | 16.98% | +21.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.63% | 18.06% | +14.57% |
Frequently Asked Questions
NVO and ^GSPC have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVO has higher volatility (9.48%) compared to ^GSPC (3.13%). In terms of maximum drawdown, NVO dropped -74.70% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.45 vs -0.37), 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 NVO and ^GSPC
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