NVO vs. ^NDX
NVO (Novo Nordisk A/S) is a stock, while ^NDX (NASDAQ 100 Index) is an index. Over the past 10 years, NVO returned 7.56%/yr vs 20.95%/yr for ^NDX. At a 0.27 correlation, their price movements are largely independent.
Performance
NVO vs. ^NDX - Performance Comparison
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Returns By Period
In the year-to-date period, NVO achieves a -10.74% return, which is significantly lower than ^NDX's 17.37% return. Over the past 10 years, NVO has underperformed ^NDX with an annualized return of 7.56%, while ^NDX has yielded a comparatively higher 20.95% annualized return.
NVO
- 1D
- -0.18%
- 1M
- -4.19%
- YTD
- -10.74%
- 6M
- -9.50%
- 1Y
- -42.47%
- 3Y*
- -15.59%
- 5Y*
- 2.92%
- 10Y*
- 7.56%
^NDX
- 1D
- 0.64%
- 1M
- 0.19%
- YTD
- 17.37%
- 6M
- 17.62%
- 1Y
- 37.01%
- 3Y*
- 25.76%
- 5Y*
- 16.18%
- 10Y*
- 20.95%
NVO vs. ^NDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | -10.74% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
^NDX NASDAQ 100 Index | 17.37% | 20.17% | 24.88% | 53.81% | -32.97% | 26.63% | 47.58% | 37.96% | -1.04% | 31.52% |
Correlation
The correlation between NVO and ^NDX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 1985 | 0.27 |
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Return for Risk
NVO vs. ^NDX — Risk / Return Rank
NVO
^NDX
NVO vs. ^NDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and NASDAQ 100 Index (^NDX). 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 | ^NDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.89 | ||
| Sortino ratioReturn per unit of downside risk | -3.73 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.36 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 2.92 | -3.72 |
| Martin ratioReturn relative to average drawdown | -1.18 | 10.85 | -12.03 |
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Drawdowns
NVO vs. ^NDX - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for NVO and ^NDX.
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Drawdown Indicators
| NVO | ^NDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -82.90% | +8.20% |
Max Drawdown (1Y)Largest decline over 1 year | -54.34% | -12.12% | -42.22% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -22.93% | -51.77% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -35.56% | -39.14% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -35.56% | -39.14% |
Current DrawdownCurrent decline from peak | -68.11% | -3.34% | -64.77% |
Average DrawdownAverage peak-to-trough decline | -17.79% | -24.61% | +6.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.62% | 3.26% | +34.36% |
Volatility
NVO vs. ^NDX - Volatility Comparison
Novo Nordisk A/S (NVO) has a higher volatility of 10.68% compared to NASDAQ 100 Index (^NDX) at 7.51%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | ^NDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.68% | 7.51% | +3.17% |
Volatility (6M)Calculated over the trailing 6-month period | 38.04% | 13.84% | +24.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.88% | 17.29% | +34.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.33% | 22.76% | +15.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.56% | 22.61% | +9.95% |
Frequently Asked Questions
NVO and ^NDX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVO has higher volatility (10.68%) compared to ^NDX (7.51%). In terms of maximum drawdown, NVO dropped -74.70% vs ^NDX's -82.90%.
^NDX currently has the higher Sharpe Ratio (2.05 vs -0.84), 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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