NVO vs. BOXX
NVO (Novo Nordisk A/S) is a stock, while BOXX (Alpha Architect 1-3 Month Box ETF) is Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. Over the past 3 years, NVO returned -13.51%/yr vs 4.71%/yr for BOXX. At a correlation of -0.01, they often move in opposite directions.
Performance
NVO vs. BOXX - 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 BOXX's 2.09% 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%
BOXX
- 1D
- 0.01%
- 1M
- 0.38%
- 6M
- 1.89%
- YTD
- 2.09%
- 1Y
- 4.08%
- 3Y*
- 4.71%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.71%
NVO vs. BOXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NVO Novo Nordisk A/S | 0.91% | -39.22% | -15.93% | 54.84% | 1.57% |
BOXX Alpha Architect 1-3 Month Box ETF | 2.09% | 4.37% | 5.16% | 5.04% | 0.07% |
Correlation
The correlation between NVO and BOXX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2022 | -0.01 |
The correlation between NVO and BOXX shifts across timeframes, from -0.01 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NVO vs. BOXX — Risk / Return Rank
NVO
BOXX
NVO vs. BOXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and Alpha Architect 1-3 Month Box ETF (BOXX). 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 | BOXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.83 | ||
| Sortino ratioReturn per unit of downside risk | -36.38 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 8.79 | -7.82 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 59.60 | -59.99 |
| Martin ratioReturn relative to average drawdown | -0.61 | 502.06 | -502.66 |
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Drawdowns
NVO vs. BOXX - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for NVO and BOXX.
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Drawdown Indicators
| NVO | BOXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -0.12% | -74.58% |
Max Drawdown (1Y)Largest decline over 1 year | -49.17% | -0.07% | -49.10% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -0.12% | -74.58% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | — | — |
Current DrawdownCurrent decline from peak | -63.95% | 0.00% | -63.95% |
Average DrawdownAverage peak-to-trough decline | -17.89% | -0.00% | -17.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.75% | 0.01% | +31.74% |
Volatility
NVO vs. BOXX - Volatility Comparison
Novo Nordisk A/S (NVO) has a higher volatility of 9.48% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.11%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than BOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | BOXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 0.11% | +9.37% |
Volatility (6M)Calculated over the trailing 6-month period | 37.43% | 0.26% | +37.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.79% | 0.33% | +51.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.58% | 0.37% | +38.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.63% | 0.37% | +32.26% |
Dividends
NVO vs. BOXX - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 3.63%, while BOXX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOXX Alpha Architect 1-3 Month Box ETF | 0.00% | 0.00% | 0.26% | 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% |
Frequently Asked Questions
NVO and BOXX have a correlation of 0.13, 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 BOXX (0.11%). In terms of maximum drawdown, NVO dropped -74.70% vs BOXX's -0.12%.
BOXX currently has the higher Sharpe Ratio (12.46 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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