OR.PA vs. NOVN.SW

Last updated Jun 5, 2026

OR.PA (L'Oréal S.A.) and NOVN.SW (Novartis AG) are both stocks. OR.PA operates in Household & Personal Products (Consumer Defensive), while NOVN.SW operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, OR.PA returned 9.96%/yr vs 12.03%/yr for NOVN.SW. At a 0.35 correlation, their price movements are largely independent.

Performance

OR.PA vs. NOVN.SW - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L'Oréal S.A. (OR.PA) and Novartis AG (NOVN.SW). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

OR.PA is traded in EUR, while NOVN.SW is traded in CHF. To make them comparable, the NOVN.SW values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, OR.PA achieves a 3.16% return, which is significantly lower than NOVN.SW's 10.53% return. Over the past 10 years, OR.PA has underperformed NOVN.SW with an annualized return of 9.96%, while NOVN.SW has yielded a comparatively higher 12.03% annualized return.

OR.PA

• 1D: 0.12%
• 1M: 2.18%
• YTD: 3.16%
• 6M: 3.51%
• 1Y: -0.83%
• 3Y*: -1.17%
• 5Y*: 1.34%
• 10Y*: 9.96%

NOVN.SW

• 1D: 2.28%
• 1M: 2.01%
• YTD: 10.53%
• 6M: 13.91%
• 1Y: 25.68%
• 3Y*: 16.62%
• 5Y*: 16.82%
• 10Y*: 12.03%

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

OR.PA vs. NOVN.SW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OR.PA L'Oréal S.A.	3.16%	9.18%	-22.98%	37.01%	-18.84%	35.74%	19.27%	33.32%	10.83%	8.59%
NOVN.SW Novartis AG	10.53%	29.46%	7.05%	19.25%	13.72%	4.66%	-5.25%	33.39%	10.55%	6.41%

Correlation

The correlation between OR.PA and NOVN.SW is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Sep 3, 2007	0.35

The correlation between OR.PA and NOVN.SW shifts across timeframes, from 0.20 (3 years) to 0.35 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OR.PA vs. NOVN.SW — Risk / Return Rank

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

OR.PA

OR.PA Risk / Return Rank: 36
OR.PA Sharpe Ratio Rank: 39
OR.PA Sortino Ratio Rank: 33
OR.PA Omega Ratio Rank: 33
OR.PA Calmar Ratio Rank: 38
OR.PA Martin Ratio Rank: 38

NOVN.SW

NOVN.SW Risk / Return Rank: 75
NOVN.SW Sharpe Ratio Rank: 79
NOVN.SW Sortino Ratio Rank: 72
NOVN.SW Omega Ratio Rank: 72
NOVN.SW Calmar Ratio Rank: 77
NOVN.SW Martin Ratio Rank: 77

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.

OR.PA vs. NOVN.SW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L'Oréal S.A. (OR.PA) and Novartis AG (NOVN.SW). 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.

	OR.PA	NOVN.SW	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	1.42	-1.49
Sortino ratio: Return per unit of downside risk	0.09	1.90	-1.81
Omega ratio: Gain probability vs. loss probability	1.01	1.25	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.11	2.31	-2.42
Martin ratio: Return relative to average drawdown	-0.21	5.83	-6.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OR.PA vs. NOVN.SW - Sharpe Ratio Comparison

The current OR.PA Sharpe Ratio is -0.07, which is lower than the NOVN.SW Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of OR.PA and NOVN.SW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OR.PA	NOVN.SW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.07	1.42	-1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	0.92	-0.87
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.65	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.62	-0.15

Drawdowns

OR.PA vs. NOVN.SW - Drawdown Comparison

The maximum OR.PA drawdown since its inception was -51.77%, which is greater than NOVN.SW's maximum drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for OR.PA and NOVN.SW.

Drawdown Indicators

	OR.PA	NOVN.SW	Difference
Max Drawdown Largest peak-to-trough decline	-51.77%	-35.54%	-16.23%
Max Drawdown (1Y) Largest decline over 1 year	-15.20%	-11.88%	-3.32%
Max Drawdown (3Y) Largest decline over 3 years	-29.92%	-16.12%	-13.80%
Max Drawdown (5Y) Largest decline over 5 years	-29.92%	-16.12%	-13.80%
Max Drawdown (10Y) Largest decline over 10 years	-29.92%	-23.73%	-6.19%
Current Drawdown Current decline from peak	-15.73%	-9.27%	-6.46%
Average Drawdown Average peak-to-trough decline	-12.17%	-9.04%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.10%	4.67%	+3.43%

Volatility

OR.PA vs. NOVN.SW - Volatility Comparison

L'Oréal S.A. (OR.PA) has a higher volatility of 7.01% compared to Novartis AG (NOVN.SW) at 6.47%. This indicates that OR.PA's price experiences larger fluctuations and is considered to be riskier than NOVN.SW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OR.PA	NOVN.SW	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.01%	6.47%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	19.87%	13.80%	+6.07%
Volatility (1Y) Calculated over the trailing 1-year period	25.77%	19.30%	+6.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.57%	18.29%	+6.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.58%	18.54%	+4.04%

Dividends

OR.PA vs. NOVN.SW - Dividend Comparison

OR.PA's dividend yield for the trailing twelve months is around 1.94%, less than NOVN.SW's 3.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOVN.SW Novartis AG	3.19%	3.19%	3.72%	3.77%	3.91%	3.94%	3.72%	3.27%	3.98%	3.98%	4.35%	3.58%
OR.PA L'Oréal S.A.	1.94%	1.91%	1.93%	1.33%	1.44%	0.96%	1.24%	1.46%	1.76%	1.78%	1.79%	1.74%

Financials

Frequently Asked Questions

Can I hold both OR.PA and NOVN.SW in my portfolio?

OR.PA and NOVN.SW have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.