NVS vs. SAN
NVS (Novartis AG) and SAN (Banco Santander, S.A.) are both stocks. NVS operates in Drug Manufacturers - General (Healthcare), while SAN operates in Banks - Diversified (Financial Services). Over the past 10 years, NVS returned 11.14%/yr vs 16.85%/yr for SAN. At a 0.38 correlation, their price movements are largely independent.
Performance
NVS vs. SAN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NVS achieves a 14.40% return, which is significantly higher than SAN's 11.07% return. Over the past 10 years, NVS has underperformed SAN with an annualized return of 11.14%, while SAN has yielded a comparatively higher 16.85% annualized return.
NVS
- 1D
- -0.55%
- 1M
- 2.22%
- YTD
- 14.40%
- 6M
- 18.98%
- 1Y
- 30.60%
- 3Y*
- 19.57%
- 5Y*
- 14.77%
- 10Y*
- 11.14%
SAN
- 1D
- 2.47%
- 1M
- 7.79%
- YTD
- 11.07%
- 6M
- 14.69%
- 1Y
- 63.16%
- 3Y*
- 60.71%
- 5Y*
- 29.56%
- 10Y*
- 16.85%
NVS vs. SAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVS Novartis AG | 14.40% | 46.95% | 0.02% | 16.14% | 8.06% | -3.65% | 3.34% | 13.92% | 5.95% | 19.42% |
SAN Banco Santander, S.A. | 11.07% | 164.72% | 14.96% | 46.20% | -6.62% | 10.41% | -21.99% | -2.32% | -28.49% | 32.28% |
Correlation
The correlation between NVS and SAN is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 1996 | 0.38 |
The correlation between NVS and SAN shifts across timeframes, from 0.27 (10 years) to 0.38 (all time), reflecting how their relationship changes across market environments.
Fundamentals
NVS:
$293.28B
SAN:
$188.90B
NVS:
$6.99
SAN:
€1.06
NVS:
21.90
SAN:
10.47
NVS:
1.48
SAN:
0.55
NVS:
5.29
SAN:
2.27
NVS:
7.62
SAN:
1.54
NVS:
$56.05B
SAN:
€74.92B
NVS:
$42.19B
SAN:
€46.97B
NVS:
$22.40B
SAN:
€21.14B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NVS vs. SAN — Risk / Return Rank
NVS
SAN
NVS vs. SAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novartis AG (NVS) and Banco Santander, S.A. (SAN). 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.
| NVS | SAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 3.13 | -0.70 |
| Martin ratioReturn relative to average drawdown | 5.88 | 9.63 | -3.74 |
Loading charts...
Drawdowns
NVS vs. SAN - Drawdown Comparison
The maximum NVS drawdown since its inception was -42.10%, smaller than the maximum SAN drawdown of -82.94%. Use the drawdown chart below to compare losses from any high point for NVS and SAN.
Loading charts...
Drawdown Indicators
| NVS | SAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.10% | -82.94% | +40.84% |
Max Drawdown (1Y)Largest decline over 1 year | -12.65% | -20.29% | +7.64% |
Max Drawdown (3Y)Largest decline over 3 years | -19.95% | -20.29% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -20.42% | -43.23% | +22.81% |
Max Drawdown (10Y)Largest decline over 10 years | -26.03% | -73.84% | +47.81% |
Current DrawdownCurrent decline from peak | -6.46% | -1.37% | -5.09% |
Average DrawdownAverage peak-to-trough decline | -10.92% | -30.66% | +19.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.23% | 6.58% | -1.35% |
Volatility
NVS vs. SAN - Volatility Comparison
The current volatility for Novartis AG (NVS) is 7.18%, while Banco Santander, S.A. (SAN) has a volatility of 10.68%. This indicates that NVS experiences smaller price fluctuations and is considered to be less risky than SAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NVS | SAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.18% | 10.68% | -3.50% |
Volatility (6M)Calculated over the trailing 6-month period | 14.96% | 27.49% | -12.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.02% | 33.65% | -12.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.89% | 33.89% | -15.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.64% | 35.85% | -16.21% |
Dividends
NVS vs. SAN - Dividend Comparison
NVS's dividend yield for the trailing twelve months is around 3.12%, more than SAN's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVS Novartis AG | 3.12% | 2.90% | 3.84% | 3.44% | 3.70% | 3.86% | 3.22% | 3.03% | 3.47% | 3.24% | 3.73% | 3.10% |
SAN Banco Santander, S.A. | 2.17% | 2.11% | 4.63% | 3.58% | 3.83% | 2.71% | 0.00% | 6.20% | 5.83% | 4.60% | 3.29% | 7.06% |
Financials
NVS vs. SAN - Financials Comparison
This section allows you to compare key financial metrics between Novartis AG and Banco Santander, S.A.. 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
NVS vs. SAN - Profitability Comparison
NVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Novartis AG reported a gross profit of 10.07B and revenue of 13.52B. Therefore, the gross margin over that period was 74.4%.
SAN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported a gross profit of 12.95B and revenue of 31.44B. Therefore, the gross margin over that period was 41.2%.
NVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Novartis AG reported an operating income of 4.24B and revenue of 13.52B, resulting in an operating margin of 31.3%.
SAN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported an operating income of 5.11B and revenue of 31.44B, resulting in an operating margin of 16.3%.
NVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Novartis AG reported a net income of 3.16B and revenue of 13.52B, resulting in a net margin of 23.3%.
SAN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported a net income of 5.54B and revenue of 31.44B, resulting in a net margin of 17.6%.
Frequently Asked Questions
NVS and SAN have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAN has higher volatility (10.68%) compared to NVS (7.18%). In terms of maximum drawdown, NVS dropped -42.10% vs SAN's -82.94%.
SAN currently has the higher Sharpe Ratio (1.89 vs 1.47), 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.
Find the right allocation for NVS and SAN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer