NVO vs. AEHR
NVO (Novo Nordisk A/S) and AEHR (Aehr Test Systems) are both stocks. NVO operates in Drug Manufacturers - General (Healthcare), while AEHR operates in Semiconductor Equipment & Materials (Technology). Over the past 10 years, NVO returned 8.18%/yr vs 46.40%/yr for AEHR. At a 0.09 correlation, their price movements are largely independent.
Performance
NVO vs. AEHR - Performance Comparison
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Returns By Period
In the year-to-date period, NVO achieves a 0.91% return, which is significantly lower than AEHR's 283.16% return. Over the past 10 years, NVO has underperformed AEHR with an annualized return of 8.18%, while AEHR has yielded a comparatively higher 46.40% 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%
AEHR
- 1D
- -4.55%
- 1M
- -32.91%
- 6M
- 168.52%
- YTD
- 283.16%
- 1Y
- 413.34%
- 3Y*
- 16.97%
- 5Y*
- 57.31%
- 10Y*
- 46.40%
- ALL TIME*
- 5.90%
NVO vs. AEHR - 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% |
AEHR Aehr Test Systems | 283.16% | 21.41% | -37.32% | 31.99% | -16.87% | 855.73% | 26.50% | 41.84% | -47.97% | 12.45% |
Correlation
The correlation between NVO and AEHR is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 1997 | 0.09 |
The correlation between NVO and AEHR shifts across timeframes, from 0.09 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
NVO:
$220.46B
AEHR:
$2.43B
NVO:
DKK 27.42
AEHR:
-$0.23
NVO:
4.40
AEHR:
47.90
NVO:
7.11
AEHR:
11.69
NVO:
DKK 327.80B
AEHR:
$50.00M
NVO:
DKK 268.30B
AEHR:
$17.65M
NVO:
DKK 181.54B
AEHR:
-$10.85M
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Return for Risk
NVO vs. AEHR — Risk / Return Rank
NVO
AEHR
NVO vs. AEHR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and Aehr Test Systems (AEHR). 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 | AEHR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.76 | ||
| Sortino ratioReturn per unit of downside risk | -3.58 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.39 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 9.79 | -10.18 |
| Martin ratioReturn relative to average drawdown | -0.61 | 20.21 | -20.82 |
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Drawdowns
NVO vs. AEHR - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, smaller than the maximum AEHR drawdown of -97.98%. Use the drawdown chart below to compare losses from any high point for NVO and AEHR.
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Drawdown Indicators
| NVO | AEHR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -97.98% | +23.28% |
Max Drawdown (1Y)Largest decline over 1 year | -49.17% | -42.58% | -6.59% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -87.37% | +12.67% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -87.37% | +12.67% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -87.37% | +12.67% |
Current DrawdownCurrent decline from peak | -63.95% | -33.64% | -30.31% |
Average DrawdownAverage peak-to-trough decline | -17.89% | -79.41% | +61.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.75% | 20.57% | +11.18% |
Volatility
NVO vs. AEHR - Volatility Comparison
The current volatility for Novo Nordisk A/S (NVO) is 9.48%, while Aehr Test Systems (AEHR) has a volatility of 38.99%. This indicates that NVO experiences smaller price fluctuations and is considered to be less risky than AEHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | AEHR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 38.99% | -29.51% |
Volatility (6M)Calculated over the trailing 6-month period | 37.43% | 94.48% | -57.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.79% | 123.49% | -71.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.58% | 103.40% | -64.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.63% | 94.64% | -62.01% |
Dividends
NVO vs. AEHR - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 3.63%, while AEHR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AEHR Aehr Test Systems | 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 | 3.63% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Financials
NVO vs. AEHR - Financials Comparison
This section allows you to compare key financial metrics between Novo Nordisk A/S and Aehr Test Systems. 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
NVO vs. AEHR - Profitability Comparison
NVO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.
AEHR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Aehr Test Systems reported a gross profit of 8.02M and revenue of 18.84M. Therefore, the gross margin over that period was 42.6%.
NVO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 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%.
AEHR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Aehr Test Systems reported an operating income of -987.00K and revenue of 18.84M, resulting in an operating margin of -5.2%.
NVO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 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%.
AEHR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Aehr Test Systems reported a net income of 1.39M and revenue of 18.84M, resulting in a net margin of 7.4%.
Frequently Asked Questions
NVO and AEHR have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AEHR has higher volatility (38.99%) compared to NVO (9.48%). In terms of maximum drawdown, NVO dropped -74.70% vs AEHR's -97.98%.
AEHR currently has the higher Sharpe Ratio (3.38 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.
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