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 7.56%/yr vs 15.70%/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 -10.74% return, which is significantly higher than SPGI's -19.47% return. Over the past 10 years, NVO has underperformed SPGI with an annualized return of 7.56%, while SPGI has yielded a comparatively higher 15.70% 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%
SPGI
- 1D
- 1.35%
- 1M
- 3.28%
- YTD
- -19.47%
- 6M
- -16.00%
- 1Y
- -16.50%
- 3Y*
- 3.19%
- 5Y*
- 2.16%
- 10Y*
- 15.70%
NVO vs. SPGI - 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% |
SPGI S&P Global Inc. | -19.47% | 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 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
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 0.17 (1 year) to 0.31 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
NVO:
$195.21B
SPGI:
$124.67B
NVO:
DKK 27.42
SPGI:
$15.79
NVO:
10.34
SPGI:
26.53
NVO:
0.44
SPGI:
3.47
NVO:
3.85
SPGI:
8.06
NVO:
6.21
SPGI:
3.98
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 | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.91 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | -0.54 | -0.26 |
| Martin ratioReturn relative to average drawdown | -1.18 | -1.03 | -0.15 |
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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 | -54.34% | -30.48% | -23.86% |
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 | -68.11% | -25.12% | -42.99% |
Average DrawdownAverage peak-to-trough decline | -17.79% | -15.23% | -2.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.62% | 16.07% | +21.55% |
Volatility
NVO vs. SPGI - Volatility Comparison
Novo Nordisk A/S (NVO) has a higher volatility of 10.68% compared to S&P Global Inc. (SPGI) at 7.62%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier 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 | 10.68% | 7.62% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 38.04% | 24.13% | +13.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.88% | 27.63% | +24.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.33% | 24.51% | +13.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.56% | 26.03% | +6.53% |
Dividends
NVO vs. SPGI - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 4.11%, more than SPGI's 0.92% yield.
| 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% |
SPGI S&P Global Inc. | 0.92% | 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 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%.
SPGI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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 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%.
SPGI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 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 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%.
SPGI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 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 0.17, 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 SPGI (7.62%). In terms of maximum drawdown, NVO dropped -74.70% vs SPGI's -74.67%.
SPGI currently has the higher Sharpe Ratio (-0.60 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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