NVO vs. SLV
NVO (Novo Nordisk A/S) is a stock, while SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price. Over the past 10 years, NVO returned 7.56%/yr vs 13.99%/yr for SLV. At a 0.17 correlation, their price movements are largely independent.
Performance
NVO vs. SLV - 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 SLV's -4.86% return. Over the past 10 years, NVO has underperformed SLV with an annualized return of 7.56%, while SLV has yielded a comparatively higher 13.99% 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%
SLV
- 1D
- 0.77%
- 1M
- -22.76%
- YTD
- -4.86%
- 6M
- 9.25%
- 1Y
- 85.39%
- 3Y*
- 41.27%
- 5Y*
- 18.83%
- 10Y*
- 13.99%
NVO vs. SLV - 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% |
SLV iShares Silver Trust | -4.86% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between NVO and SLV is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.17 |
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Return for Risk
NVO vs. SLV — Risk / Return Rank
NVO
SLV
NVO vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and iShares Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.29 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 1.89 | -2.69 |
| Martin ratioReturn relative to average drawdown | -1.18 | 4.10 | -5.28 |
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Drawdowns
NVO vs. SLV - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, roughly equal to the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for NVO and SLV.
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Drawdown Indicators
| NVO | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -76.28% | +1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -54.34% | -45.40% | -8.94% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -45.40% | -29.30% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -45.40% | -29.30% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -45.40% | -29.30% |
Current DrawdownCurrent decline from peak | -68.11% | -41.96% | -26.15% |
Average DrawdownAverage peak-to-trough decline | -17.79% | -44.66% | +26.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.62% | 20.88% | +16.74% |
Volatility
NVO vs. SLV - Volatility Comparison
The current volatility for Novo Nordisk A/S (NVO) is 10.68%, while iShares Silver Trust (SLV) has a volatility of 16.34%. This indicates that NVO experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.68% | 16.34% | -5.66% |
Volatility (6M)Calculated over the trailing 6-month period | 38.04% | 59.10% | -21.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.88% | 59.82% | -7.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.33% | 36.46% | +1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.56% | 32.00% | +0.56% |
Dividends
NVO vs. SLV - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 4.11%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NVO and SLV have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (16.34%) compared to NVO (10.68%). In terms of maximum drawdown, NVO dropped -74.70% vs SLV's -76.28%.
SLV currently has the higher Sharpe Ratio (1.44 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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