NVO vs. WMT
NVO (Novo Nordisk A/S) and WMT (Walmart Inc.) are both stocks. NVO operates in Drug Manufacturers - General (Healthcare), while WMT operates in Discount Stores (Consumer Defensive). Over the past 10 years, NVO returned 6.20%/yr vs 19.62%/yr for WMT. At a 0.16 correlation, their price movements are largely independent.
Performance
NVO vs. WMT - Performance Comparison
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Returns By Period
In the year-to-date period, NVO achieves a -16.56% return, which is significantly lower than WMT's 7.98% return. Over the past 10 years, NVO has underperformed WMT with an annualized return of 6.20%, while WMT has yielded a comparatively higher 19.62% annualized return.
NVO
- 1D
- -4.52%
- 1M
- -10.96%
- YTD
- -16.56%
- 6M
- -9.23%
- 1Y
- -42.47%
- 3Y*
- -17.53%
- 5Y*
- 1.78%
- 10Y*
- 6.20%
WMT
- 1D
- 0.80%
- 1M
- -8.13%
- YTD
- 7.98%
- 6M
- 6.15%
- 1Y
- 23.97%
- 3Y*
- 34.37%
- 5Y*
- 22.47%
- 10Y*
- 19.62%
NVO vs. WMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | -16.56% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
WMT Walmart Inc. | 7.98% | 24.49% | 73.99% | 12.88% | -0.46% | 1.97% | 23.32% | 30.16% | -3.43% | 46.56% |
Correlation
The correlation between NVO and WMT 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 | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 1982 | 0.16 |
The correlation between NVO and WMT shifts across timeframes, from -0.02 (1 year) to 0.17 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
NVO:
$182.49B
WMT:
$958.52B
NVO:
$27.42
WMT:
$2.88
NVO:
1.50
WMT:
41.62
NVO:
0.06
WMT:
2.72
NVO:
0.56
WMT:
1.32
NVO:
0.90
WMT:
10.16
NVO:
$327.80B
WMT:
$725.31B
NVO:
$268.30B
WMT:
$181.16B
NVO:
$181.54B
WMT:
$44.32B
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Return for Risk
NVO vs. WMT — Risk / Return Rank
NVO
WMT
NVO vs. WMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and Walmart Inc. (WMT). 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.
| NVO | WMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.55 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.20 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.53 | -2.30 |
| Martin ratioReturn relative to average drawdown | -1.14 | 5.02 | -6.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NVO | WMT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.82 | 1.02 | -1.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 1.04 | -1.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.91 | -0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.64 | -0.17 |
Drawdowns
NVO vs. WMT - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, roughly equal to the maximum WMT drawdown of -77.14%. Use the drawdown chart below to compare losses from any high point for NVO and WMT.
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Drawdown Indicators
| NVO | WMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -77.14% | +2.44% |
Max Drawdown (1Y)Largest decline over 1 year | -55.03% | -15.75% | -39.28% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -21.93% | -52.77% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -25.74% | -48.96% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -25.74% | -48.96% |
Current DrawdownCurrent decline from peak | -70.19% | -10.71% | -59.48% |
Average DrawdownAverage peak-to-trough decline | -17.77% | -14.63% | -3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.21% | 4.79% | +32.42% |
Volatility
NVO vs. WMT - Volatility Comparison
Novo Nordisk A/S (NVO) and Walmart Inc. (WMT) have volatilities of 9.75% and 10.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | WMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.75% | 10.26% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 38.30% | 18.59% | +19.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.08% | 23.72% | +28.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.31% | 21.68% | +16.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.56% | 21.73% | +10.83% |
Dividends
NVO vs. WMT - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 4.39%, more than WMT's 0.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | 4.39% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
WMT Walmart Inc. | 0.81% | 0.84% | 0.92% | 1.45% | 1.58% | 1.52% | 1.50% | 1.78% | 2.23% | 2.07% | 2.89% | 3.20% |
Financials
NVO vs. WMT - Financials Comparison
This section allows you to compare key financial metrics between Novo Nordisk A/S and Walmart 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. WMT - 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%.
WMT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Walmart Inc. reported a gross profit of 44.69B and revenue of 177.75B. Therefore, the gross margin over that period was 25.1%.
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%.
WMT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Walmart Inc. reported an operating income of 7.49B and revenue of 177.75B, resulting in an operating margin of 4.2%.
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%.
WMT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Walmart Inc. reported a net income of 5.65B and revenue of 177.75B, resulting in a net margin of 3.2%.
Frequently Asked Questions
NVO and WMT 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.
WMT has higher volatility (10.26%) compared to NVO (9.75%). In terms of maximum drawdown, NVO dropped -74.70% vs WMT's -77.14%.
WMT currently has the higher Sharpe Ratio (1.02 vs -0.82), 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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