NVO vs. 0941.HK

Last updated Jun 13, 2026

NVO (Novo Nordisk A/S) and 0941.HK (China Mobile Ltd) are both stocks. NVO operates in Drug Manufacturers - General (Healthcare), while 0941.HK operates in Telecom Services (Communication Services). Over the past 10 years, NVO returned 7.56%/yr vs 5.25%/yr for 0941.HK. At a 0.07 correlation, their price movements are largely independent.

Performance

NVO vs. 0941.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Novo Nordisk A/S (NVO) and China Mobile Ltd (0941.HK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NVO is traded in USD, while 0941.HK is traded in HKD. To make them comparable, the 0941.HK values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, NVO achieves a -10.74% return, which is significantly lower than 0941.HK's 2.49% return. Over the past 10 years, NVO has outperformed 0941.HK with an annualized return of 7.56%, while 0941.HK has yielded a comparatively lower 5.25% annualized return.

NVO

• 1D: -0.18%
• 1M: -6.80%
• YTD: -10.74%
• 6M: -9.50%
• 1Y: -43.34%
• 3Y*: -15.59%
• 5Y*: 2.92%
• 10Y*: 7.56%

0941.HK

• 1D: -0.05%
• 1M: -2.65%
• YTD: 2.49%
• 6M: -3.17%
• 1Y: -0.25%
• 3Y*: 15.93%
• 5Y*: 18.81%
• 10Y*: 5.25%

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

NVO vs. 0941.HK - 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%
0941.HK China Mobile Ltd	2.49%	13.01%	27.03%	34.46%	20.82%	12.60%	-28.18%	-8.82%	-0.64%	-1.09%

Correlation

The correlation between NVO and 0941.HK is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (10Y) Calculated over the trailing 10-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jul 3, 2007	0.07

The correlation between NVO and 0941.HK shifts across timeframes, from -0.12 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NVO vs. 0941.HK — Risk / Return Rank

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

NVO

NVO Risk / Return Rank: 12
NVO Sharpe Ratio Rank: 9
NVO Sortino Ratio Rank: 12
NVO Omega Ratio Rank: 10
NVO Calmar Ratio Rank: 12
NVO Martin Ratio Rank: 16

0941.HK

0941.HK Risk / Return Rank: 38
0941.HK Sharpe Ratio Rank: 41
0941.HK Sortino Ratio Rank: 33
0941.HK Omega Ratio Rank: 32
0941.HK Calmar Ratio Rank: 41
0941.HK 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.

NVO vs. 0941.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and China Mobile Ltd (0941.HK). 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	0941.HK	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	-0.02	-0.82
Sortino ratio: Return per unit of downside risk	-1.05	0.05	-1.10
Omega ratio: Gain probability vs. loss probability	0.85	1.01	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.80	-0.02	-0.78
Martin ratio: Return relative to average drawdown	-1.18	-0.04	-1.14

NVO vs. 0941.HK - Sharpe Ratio Comparison

The current NVO Sharpe Ratio is -0.84, which is lower than the 0941.HK Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of NVO and 0941.HK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NVO vs. 0941.HK - Drawdown Comparison

The maximum NVO drawdown since its inception was -74.70%, which is greater than 0941.HK's maximum drawdown of -65.26%. Use the drawdown chart below to compare losses from any high point for NVO and 0941.HK.

Drawdown Indicators

	NVO	0941.HK	Difference
Max Drawdown Largest peak-to-trough decline	-74.70%	-65.26%	-9.44%
Max Drawdown (1Y) Largest decline over 1 year	-54.34%	-13.36%	-40.98%
Max Drawdown (3Y) Largest decline over 3 years	-74.70%	-13.36%	-61.34%
Max Drawdown (5Y) Largest decline over 5 years	-74.70%	-16.97%	-57.73%
Max Drawdown (10Y) Largest decline over 10 years	-74.70%	-49.33%	-25.37%
Current Drawdown Current decline from peak	-68.11%	-5.88%	-62.23%
Average Drawdown Average peak-to-trough decline	-17.79%	-31.80%	+14.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.62%	6.47%	+31.15%

Volatility

NVO vs. 0941.HK - Volatility Comparison

Novo Nordisk A/S (NVO) has a higher volatility of 10.68% compared to China Mobile Ltd (0941.HK) at 2.04%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than 0941.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVO	0941.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.68%	2.04%	+8.64%
Volatility (6M) Calculated over the trailing 6-month period	38.04%	8.68%	+29.36%
Volatility (1Y) Calculated over the trailing 1-year period	51.88%	11.28%	+40.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.33%	16.97%	+21.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.56%	20.29%	+12.27%

Dividends

NVO vs. 0941.HK - Dividend Comparison

NVO's dividend yield for the trailing twelve months is around 4.11%, less than 0941.HK's 6.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
0941.HK China Mobile Ltd	6.44%	6.41%	6.53%	7.16%	8.95%	7.24%	7.36%	4.45%	4.52%	3.62%	3.27%	3.32%
NVO Novo Nordisk A/S	4.11%	3.31%	1.68%	1.00%	1.20%	1.35%	1.87%	2.14%	1.45%	1.52%	2.87%	0.92%

Financials

Frequently Asked Questions

Can I hold both NVO and 0941.HK in my portfolio?

NVO and 0941.HK have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.