OCGN vs. NVAX

Last updated Apr 2, 2026

Compare and contrast key facts about Ocugen, Inc. (OCGN) and Novavax, Inc. (NVAX).

Performance

OCGN vs. NVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ocugen, Inc. (OCGN) and Novavax, Inc. (NVAX). The values are adjusted to include any dividend payments, if applicable.

OCGN vs. NVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OCGN Ocugen, Inc.	32.59%	67.70%	40.00%	-55.77%	-71.43%	148.63%	251.92%	-90.20%	-95.69%	22.75%
NVAX Novavax, Inc.	19.35%	-16.42%	67.50%	-53.31%	-92.81%	28.30%	2,701.76%	-89.18%	48.39%	-1.59%

Fundamentals

Market Cap OCGN : $559.09M NVAX : $1.39B
EPS OCGN : -$0.22 NVAX : $2.58
PS Ratio OCGN : 122.82 NVAX : 1.22
Total Revenue (TTM) OCGN : $4.41M NVAX : $1.12B
Gross Profit (TTM) OCGN : $2.02M NVAX : $1.05B
EBITDA (TTM) OCGN : -$61.24M NVAX : $452.80M

Returns By Period

In the year-to-date period, OCGN achieves a 32.59% return, which is significantly higher than NVAX's 19.35% return. Over the past 10 years, OCGN has underperformed NVAX with an annualized return of -35.49%, while NVAX has yielded a comparatively higher -23.02% annualized return.

OCGN

• 1D: -1.10%
• 1M: -7.73%
• YTD: 32.59%
• 6M: 6.55%
• 1Y: 176.58%
• 3Y*: 28.02%
• 5Y*: -23.20%
• 10Y*: -35.49%

NVAX

• 1D: -1.47%
• 1M: -20.67%
• YTD: 19.35%
• 6M: -15.58%
• 1Y: 33.67%
• 3Y*: 4.99%
• 5Y*: -46.66%
• 10Y*: -23.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

OCGN vs. NVAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OCGN

OCGN Risk / Return Rank: 88
OCGN Sharpe Ratio Rank: 91
OCGN Sortino Ratio Rank: 89
OCGN Omega Ratio Rank: 84
OCGN Calmar Ratio Rank: 90
OCGN Martin Ratio Rank: 86

NVAX

NVAX Risk / Return Rank: 57
NVAX Sharpe Ratio Rank: 56
NVAX Sortino Ratio Rank: 61
NVAX Omega Ratio Rank: 57
NVAX Calmar Ratio Rank: 57
NVAX Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OCGN vs. NVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ocugen, Inc. (OCGN) and Novavax, Inc. (NVAX). 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.

	OCGN	NVAX	Difference
Sharpe ratio Return per unit of total volatility	2.13	0.44	+1.69
Sortino ratio Return per unit of downside risk	2.82	1.24	+1.57
Omega ratio Gain probability vs. loss probability	1.33	1.14	+0.19
Calmar ratio Return relative to maximum drawdown	3.90	0.70	+3.20
Martin ratio Return relative to average drawdown	8.93	1.48	+7.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCGN vs. NVAX - Sharpe Ratio Comparison

The current OCGN Sharpe Ratio is 2.13, which is higher than the NVAX Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of OCGN and NVAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	OCGN	NVAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	0.44	+1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	-0.44	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.21	-0.20	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	-0.26	-0.07	-0.18

Correlation

The correlation between OCGN and NVAX is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

OCGN vs. NVAX - Dividend Comparison

Neither OCGN nor NVAX has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

OCGN vs. NVAX - Drawdown Comparison

The maximum OCGN drawdown since its inception was -99.97%, roughly equal to the maximum NVAX drawdown of -98.82%. Use the drawdown chart below to compare losses from any high point for OCGN and NVAX.

Drawdown Indicators

	OCGN	NVAX	Difference
Max Drawdown Largest peak-to-trough decline	-99.97%	-98.82%	-1.15%
Max Drawdown (1Y) Largest decline over 1 year	-39.34%	-35.94%	-3.40%
Max Drawdown (5Y) Largest decline over 5 years	-97.72%	-98.61%	+0.89%
Max Drawdown (10Y) Largest decline over 10 years	-99.92%	-98.82%	-1.10%
Current Drawdown Current decline from peak	-99.75%	-97.49%	-2.26%
Average Drawdown Average peak-to-trough decline	-89.40%	-70.56%	-18.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.19%	16.94%	+0.25%

Volatility

OCGN vs. NVAX - Volatility Comparison

Ocugen, Inc. (OCGN) has a higher volatility of 37.99% compared to Novavax, Inc. (NVAX) at 15.78%. This indicates that OCGN's price experiences larger fluctuations and is considered to be riskier than NVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCGN	NVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	37.99%	15.78%	+22.21%
Volatility (6M) Calculated over the trailing 6-month period	60.02%	47.46%	+12.56%
Volatility (1Y) Calculated over the trailing 1-year period	83.90%	76.52%	+7.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	96.36%	107.05%	-10.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	166.75%	115.25%	+51.50%

Financials