ONC vs. NVO
ONC (BeOne Medicines Ltd) and NVO (Novo Nordisk A/S) are both stocks. Both are in the Healthcare sector — ONC in Biotechnology, NVO in Drug Manufacturers - General. Over the past 10 years, ONC returned 24.30%/yr vs 6.21%/yr for NVO. At a 0.22 correlation, their price movements are largely independent.
Performance
ONC vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, ONC achieves a -8.17% return, which is significantly higher than NVO's -14.57% return. Over the past 10 years, ONC has outperformed NVO with an annualized return of 24.30%, while NVO has yielded a comparatively lower 6.21% annualized return.
ONC
- 1D
- 1.57%
- 1M
- -6.10%
- YTD
- -8.17%
- 6M
- -17.42%
- 1Y
- 10.84%
- 3Y*
- 7.06%
- 5Y*
- -4.61%
- 10Y*
- 24.30%
NVO
- 1D
- -2.14%
- 1M
- -5.38%
- YTD
- -14.57%
- 6M
- -8.62%
- 1Y
- -38.01%
- 3Y*
- -16.72%
- 5Y*
- 2.89%
- 10Y*
- 6.21%
ONC vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ONC BeOne Medicines Ltd | -8.17% | 64.48% | 2.41% | -18.00% | -18.82% | 4.85% | 55.88% | 18.18% | 43.53% | 221.87% |
NVO Novo Nordisk A/S | -14.57% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between ONC and NVO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2016 | 0.22 |
Fundamentals
ONC:
$32.30B
NVO:
$186.85B
ONC:
$4.49
NVO:
$27.42
ONC:
62.08
NVO:
1.53
ONC:
5.55
NVO:
0.57
ONC:
6.79
NVO:
0.92
ONC:
$5.74B
NVO:
$327.80B
ONC:
$5.07B
NVO:
$268.30B
ONC:
$954.09M
NVO:
$181.54B
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Return for Risk
ONC vs. NVO — Risk / Return Rank
ONC
NVO
ONC vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BeOne Medicines Ltd (ONC) and Novo Nordisk A/S (NVO). 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.
| ONC | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.88 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | -0.69 | +1.09 |
| Martin ratioReturn relative to average drawdown | 0.82 | -1.03 | +1.85 |
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
| ONC | NVO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | -0.74 | +1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | 0.08 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.19 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.47 | -0.03 |
Drawdowns
ONC vs. NVO - Drawdown Comparison
The maximum ONC drawdown since its inception was -69.96%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for ONC and NVO.
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Drawdown Indicators
| ONC | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.96% | -74.70% | +4.74% |
Max Drawdown (1Y)Largest decline over 1 year | -27.23% | -55.03% | +27.80% |
Max Drawdown (3Y)Largest decline over 3 years | -42.73% | -74.70% | +31.97% |
Max Drawdown (5Y)Largest decline over 5 years | -69.96% | -74.70% | +4.74% |
Max Drawdown (10Y)Largest decline over 10 years | -69.96% | -74.70% | +4.74% |
Current DrawdownCurrent decline from peak | -30.79% | -69.48% | +38.69% |
Average DrawdownAverage peak-to-trough decline | -29.62% | -17.76% | -11.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.24% | 36.88% | -23.64% |
Volatility
ONC vs. NVO - Volatility Comparison
BeOne Medicines Ltd (ONC) has a higher volatility of 10.72% compared to Novo Nordisk A/S (NVO) at 7.84%. This indicates that ONC's price experiences larger fluctuations and is considered to be riskier than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ONC | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.72% | 7.84% | +2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 25.55% | 37.83% | -12.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.75% | 51.76% | -10.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.29% | 38.21% | +18.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.79% | 32.49% | +23.30% |
Dividends
ONC vs. NVO - Dividend Comparison
ONC has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 4.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | 4.29% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
ONC BeOne Medicines Ltd | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
ONC vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between BeOne Medicines Ltd and Novo Nordisk A/S. 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
ONC vs. NVO - Profitability Comparison
ONC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BeOne Medicines Ltd reported a gross profit of 1.35B and revenue of 1.51B. Therefore, the gross margin over that period was 89.0%.
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%.
ONC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BeOne Medicines Ltd reported an operating income of 249.90M and revenue of 1.51B, resulting in an operating margin of 16.5%.
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%.
ONC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BeOne Medicines Ltd reported a net income of 227.36M and revenue of 1.51B, resulting in a net margin of 15.0%.
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%.
Frequently Asked Questions
ONC and NVO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ONC has higher volatility (10.72%) compared to NVO (7.84%). In terms of maximum drawdown, ONC dropped -69.96% vs NVO's -74.70%.
ONC currently has the higher Sharpe Ratio (0.26 vs -0.74), 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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