NVO vs. KO
NVO (Novo Nordisk A/S) and KO (The Coca-Cola Company) are both stocks. NVO operates in Drug Manufacturers - General (Healthcare), while KO operates in Beverages - Non-Alcoholic (Consumer Defensive). Over the past 10 years, NVO returned 8.18%/yr vs 9.37%/yr for KO. At a 0.19 correlation, their price movements are largely independent.
Performance
NVO vs. KO - 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 KO's 19.04% return. Over the past 10 years, NVO has underperformed KO with an annualized return of 8.18%, while KO has yielded a comparatively higher 9.37% 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%
KO
- 1D
- 0.69%
- 1M
- 3.44%
- 6M
- 18.14%
- YTD
- 19.04%
- 1Y
- 20.90%
- 3Y*
- 12.83%
- 5Y*
- 10.98%
- 10Y*
- 9.37%
- ALL TIME*
- 12.17%
NVO vs. KO - 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% |
KO The Coca-Cola Company | 19.04% | 15.60% | 8.88% | -4.43% | 10.61% | 11.37% | 2.47% | 20.60% | 6.77% | 14.38% |
Correlation
The correlation between NVO and KO is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1982 | 0.19 |
The correlation between NVO and KO shifts across timeframes, from -0.03 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
Fundamentals
NVO:
$220.46B
KO:
$353.32B
NVO:
DKK 27.42
KO:
$3.18
NVO:
11.83
KO:
25.85
NVO:
0.51
KO:
3.12
NVO:
4.40
KO:
7.19
NVO:
7.11
KO:
10.53
NVO:
DKK 327.80B
KO:
$49.28B
NVO:
DKK 268.30B
KO:
$30.43B
NVO:
DKK 181.54B
KO:
$18.35B
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Return for Risk
NVO vs. KO — Risk / Return Rank
NVO
KO
NVO vs. KO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and The Coca-Cola Company (KO). 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 | KO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.21 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 2.67 | -3.06 |
| Martin ratioReturn relative to average drawdown | -0.61 | 5.83 | -6.44 |
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Drawdowns
NVO vs. KO - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, which is greater than KO's maximum drawdown of -68.23%. Use the drawdown chart below to compare losses from any high point for NVO and KO.
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Drawdown Indicators
| NVO | KO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -68.23% | -6.47% |
Max Drawdown (1Y)Largest decline over 1 year | -49.17% | -7.87% | -41.30% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -16.26% | -58.44% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -17.27% | -57.43% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -36.99% | -37.71% |
Current DrawdownCurrent decline from peak | -63.95% | -3.30% | -60.65% |
Average DrawdownAverage peak-to-trough decline | -17.89% | -16.07% | -1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.75% | 3.59% | +28.16% |
Volatility
NVO vs. KO - Volatility Comparison
Novo Nordisk A/S (NVO) has a higher volatility of 9.48% compared to The Coca-Cola Company (KO) at 7.83%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than KO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | KO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 7.83% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 37.43% | 14.19% | +23.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.79% | 17.98% | +33.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.58% | 16.46% | +22.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.63% | 18.37% | +14.26% |
Dividends
NVO vs. KO - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 3.63%, more than KO's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KO The Coca-Cola Company | 2.53% | 2.92% | 3.12% | 3.12% | 2.77% | 2.84% | 2.99% | 2.89% | 3.29% | 3.23% | 3.38% | 3.07% |
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. KO - Financials Comparison
This section allows you to compare key financial metrics between Novo Nordisk A/S and The Coca-Cola Company. 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. KO - 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%.
KO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, The Coca-Cola Company reported a gross profit of 7.85B and revenue of 12.47B. Therefore, the gross margin over that period was 63.0%.
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%.
KO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, The Coca-Cola Company reported an operating income of 4.36B and revenue of 12.47B, resulting in an operating margin of 35.0%.
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%.
KO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, The Coca-Cola Company reported a net income of 3.92B and revenue of 12.47B, resulting in a net margin of 31.5%.
Frequently Asked Questions
NVO and KO have a correlation of -0.03, 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 KO (7.83%). In terms of maximum drawdown, NVO dropped -74.70% vs KO's -68.23%.
KO currently has the higher Sharpe Ratio (1.17 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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