NVO vs. BTC-USD
NVO (Novo Nordisk A/S) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, NVO returned 7.56%/yr vs 57.23%/yr for BTC-USD. At a 0.06 correlation, their price movements are largely independent.
Performance
NVO vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, NVO achieves a -10.74% return, which is significantly higher than BTC-USD's -26.27% return. Over the past 10 years, NVO has underperformed BTC-USD with an annualized return of 7.56%, while BTC-USD has yielded a comparatively higher 57.23% 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%
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
NVO vs. BTC-USD - 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% |
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between NVO and BTC-USD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2012 | 0.06 |
The correlation between NVO and BTC-USD shifts across timeframes, from 0.06 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NVO vs. BTC-USD — Risk / Return Rank
NVO
BTC-USD
NVO vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.87 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | -0.77 | -0.03 |
| Martin ratioReturn relative to average drawdown | -1.18 | -1.33 | +0.15 |
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Drawdowns
NVO vs. BTC-USD - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for NVO and BTC-USD.
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Drawdown Indicators
| NVO | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -85.30% | +10.60% |
Max Drawdown (1Y)Largest decline over 1 year | -54.34% | -51.21% | -3.13% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -51.21% | -23.49% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -76.67% | +1.97% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -83.80% | +9.10% |
Current DrawdownCurrent decline from peak | -68.11% | -48.27% | -19.84% |
Average DrawdownAverage peak-to-trough decline | -17.79% | -42.36% | +24.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.62% | 35.16% | +2.46% |
Volatility
NVO vs. BTC-USD - Volatility Comparison
The current volatility for Novo Nordisk A/S (NVO) is 10.68%, while Bitcoin (BTC-USD) has a volatility of 11.97%. This indicates that NVO experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.68% | 11.97% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 38.04% | 34.64% | +3.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.88% | 35.59% | +16.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.33% | 44.57% | -6.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.56% | 56.61% | -24.05% |
Frequently Asked Questions
NVO and BTC-USD have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.97%) compared to NVO (10.68%). In terms of maximum drawdown, NVO dropped -74.70% vs BTC-USD's -85.30%.
NVO currently has the higher Sharpe Ratio (-0.84 vs -0.92), 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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