NVO vs. SPGI
NVO (Novo Nordisk A/S) and SPGI (S&P Global Inc.) are both stocks. NVO operates in Drug Manufacturers - General (Healthcare), while SPGI operates in Financial Data & Stock Exchanges (Financial Services). Over the past 10 years, NVO returned 8.18%/yr vs 16.05%/yr for SPGI. At a 0.28 correlation, their price movements are largely independent.
Performance
NVO vs. SPGI - Performance Comparison
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Returns By Period
In the year-to-date period, NVO achieves a 0.91% return, which is significantly higher than SPGI's -8.87% return. Over the past 10 years, NVO has underperformed SPGI with an annualized return of 8.18%, while SPGI has yielded a comparatively higher 16.05% 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%
SPGI
- 1D
- -0.55%
- 1M
- 15.35%
- 6M
- -12.84%
- YTD
- -8.87%
- 1Y
- -8.85%
- 3Y*
- 4.69%
- 5Y*
- 3.46%
- 10Y*
- 16.05%
- ALL TIME*
- 13.43%
NVO vs. SPGI - 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% |
SPGI S&P Global Inc. | -8.87% | 5.71% | 13.94% | 32.79% | -28.38% | 44.68% | 21.40% | 62.27% | 1.37% | 59.32% |
Correlation
The correlation between NVO and SPGI is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.28 |
The correlation between NVO and SPGI shifts across timeframes, from 0.16 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
NVO:
$220.46B
SPGI:
$132.71B
NVO:
DKK 27.42
SPGI:
$15.85
NVO:
11.83
SPGI:
28.29
NVO:
0.51
SPGI:
3.70
NVO:
4.40
SPGI:
8.59
NVO:
7.11
SPGI:
4.26
NVO:
DKK 327.80B
SPGI:
$15.73B
NVO:
DKK 268.30B
SPGI:
$8.15B
NVO:
DKK 181.54B
SPGI:
$7.83B
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Return for Risk
NVO vs. SPGI — Risk / Return Rank
NVO
SPGI
NVO vs. SPGI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and S&P Global Inc. (SPGI). 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 | SPGI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.97 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | -0.29 | -0.10 |
| Martin ratioReturn relative to average drawdown | -0.61 | -0.51 | -0.10 |
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Drawdowns
NVO vs. SPGI - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, roughly equal to the maximum SPGI drawdown of -74.67%. Use the drawdown chart below to compare losses from any high point for NVO and SPGI.
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Drawdown Indicators
| NVO | SPGI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -74.67% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -49.17% | -30.48% | -18.69% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -30.48% | -44.22% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -39.76% | -34.94% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -39.76% | -34.94% |
Current DrawdownCurrent decline from peak | -63.95% | -15.27% | -48.68% |
Average DrawdownAverage peak-to-trough decline | -17.89% | -15.25% | -2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.75% | 17.44% | +14.31% |
Volatility
NVO vs. SPGI - Volatility Comparison
The current volatility for Novo Nordisk A/S (NVO) is 9.48%, while S&P Global Inc. (SPGI) has a volatility of 11.70%. This indicates that NVO experiences smaller price fluctuations and is considered to be less risky than SPGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | SPGI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 11.70% | -2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 37.43% | 26.55% | +10.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.79% | 30.16% | +21.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.58% | 25.06% | +13.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.63% | 26.15% | +6.48% |
Dividends
NVO vs. SPGI - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 3.63%, less than SPGI's 5.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPGI S&P Global Inc. | 5.78% | 0.73% | 0.73% | 0.82% | 0.99% | 0.65% | 0.82% | 0.84% | 1.18% | 0.97% | 1.34% | 1.34% |
Financials
NVO vs. SPGI - Financials Comparison
This section allows you to compare key financial metrics between Novo Nordisk A/S and S&P Global Inc.. 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. SPGI - 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%.
SPGI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, S&P Global Inc. reported a gross profit of 0.00 and revenue of 4.17B. Therefore, the gross margin over that period was 0.0%.
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%.
SPGI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, S&P Global Inc. reported an operating income of 2.00B and revenue of 4.17B, resulting in an operating margin of 48.0%.
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%.
SPGI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, S&P Global Inc. reported a net income of 1.40B and revenue of 4.17B, resulting in a net margin of 33.5%.
Frequently Asked Questions
NVO and SPGI have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPGI has higher volatility (11.70%) compared to NVO (9.48%). In terms of maximum drawdown, NVO dropped -74.70% vs SPGI's -74.67%.
SPGI currently has the higher Sharpe Ratio (-0.29 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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