NVO vs. CVX
NVO (Novo Nordisk A/S) and CVX (Chevron Corporation) are both stocks. NVO operates in Drug Manufacturers - General (Healthcare), while CVX operates in Oil & Gas Integrated (Energy). Over the past 10 years, NVO returned 7.56%/yr vs 10.94%/yr for CVX. At a 0.21 correlation, their price movements are largely independent.
Performance
NVO vs. CVX - 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 CVX's 25.18% return. Over the past 10 years, NVO has underperformed CVX with an annualized return of 7.56%, while CVX has yielded a comparatively higher 10.94% 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%
CVX
- 1D
- 0.75%
- 1M
- 1.58%
- YTD
- 25.18%
- 6M
- 27.20%
- 1Y
- 34.55%
- 3Y*
- 10.25%
- 5Y*
- 16.33%
- 10Y*
- 10.94%
NVO vs. CVX - 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% |
CVX Chevron Corporation | 25.18% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
Correlation
The correlation between NVO and CVX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2001 | 0.21 |
The correlation between NVO and CVX shifts across timeframes, from -0.02 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
Fundamentals
NVO:
$195.21B
CVX:
$371.80B
NVO:
DKK 27.42
CVX:
$5.75
NVO:
10.34
CVX:
32.54
NVO:
0.44
CVX:
3.17
NVO:
3.85
CVX:
1.93
NVO:
6.21
CVX:
2.02
NVO:
DKK 327.80B
CVX:
$185.89B
NVO:
DKK 268.30B
CVX:
$47.27B
NVO:
DKK 181.54B
CVX:
$40.44B
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Return for Risk
NVO vs. CVX — Risk / Return Rank
NVO
CVX
NVO vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and Chevron Corporation (CVX). 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 | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.41 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.27 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 2.48 | -3.28 |
| Martin ratioReturn relative to average drawdown | -1.18 | 6.10 | -7.28 |
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Drawdowns
NVO vs. CVX - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for NVO and CVX.
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Drawdown Indicators
| NVO | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -55.77% | -18.93% |
Max Drawdown (1Y)Largest decline over 1 year | -54.34% | -13.99% | -40.35% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -20.64% | -54.06% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -24.95% | -49.75% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -55.77% | -18.93% |
Current DrawdownCurrent decline from peak | -68.11% | -10.52% | -57.59% |
Average DrawdownAverage peak-to-trough decline | -17.79% | -11.39% | -6.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.62% | 5.68% | +31.94% |
Volatility
NVO vs. CVX - Volatility Comparison
Novo Nordisk A/S (NVO) has a higher volatility of 10.68% compared to Chevron Corporation (CVX) at 7.62%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than CVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.68% | 7.62% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 38.04% | 17.86% | +20.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.88% | 22.06% | +29.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.33% | 25.15% | +13.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.56% | 29.16% | +3.40% |
Dividends
NVO vs. CVX - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 4.11%, more than CVX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.73% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
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
NVO vs. CVX - Financials Comparison
This section allows you to compare key financial metrics between Novo Nordisk A/S and Chevron Corporation. 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. CVX - Profitability Comparison
NVO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.
CVX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Chevron Corporation reported a gross profit of 4.55B and revenue of 47.56B. Therefore, the gross margin over that period was 9.6%.
NVO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 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%.
CVX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Chevron Corporation reported an operating income of 3.24B and revenue of 47.56B, resulting in an operating margin of 6.8%.
NVO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 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%.
CVX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Chevron Corporation reported a net income of 2.21B and revenue of 47.56B, resulting in a net margin of 4.7%.
Frequently Asked Questions
NVO and CVX have a correlation of -0.02, 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 CVX (7.62%). In terms of maximum drawdown, NVO dropped -74.70% vs CVX's -55.77%.
CVX currently has the higher Sharpe Ratio (1.57 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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