PAM vs. NOV
PAM (Pampa Energía S.A.) and NOV (National Oilwell Varco, Inc.) are both stocks. PAM operates in Utilities - Regulated Electric (Utilities), while NOV operates in Oil & Gas Equipment & Services (Energy). Over the past 10 years, PAM returned 13.08%/yr vs -3.52%/yr for NOV. At a 0.24 correlation, their price movements are largely independent.
Performance
PAM vs. NOV - Performance Comparison
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Returns By Period
In the year-to-date period, PAM achieves a -0.03% return, which is significantly lower than NOV's 37.04% return. Over the past 10 years, PAM has outperformed NOV with an annualized return of 13.08%, while NOV has yielded a comparatively lower -3.52% annualized return.
PAM
- 1D
- 0.17%
- 1M
- 11.49%
- YTD
- -0.03%
- 6M
- 0.08%
- 1Y
- 18.80%
- 3Y*
- 31.91%
- 5Y*
- 39.46%
- 10Y*
- 13.08%
NOV
- 1D
- 0.48%
- 1M
- 4.65%
- YTD
- 37.04%
- 6M
- 30.69%
- 1Y
- 58.42%
- 3Y*
- 14.65%
- 5Y*
- 6.53%
- 10Y*
- -3.52%
PAM vs. NOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAM Pampa Energía S.A. | -0.03% | 0.65% | 77.58% | 55.04% | 51.30% | 53.19% | -16.13% | -48.35% | -52.72% | 93.28% |
NOV National Oilwell Varco, Inc. | 37.04% | 11.30% | -26.81% | -1.83% | 55.72% | -0.89% | -44.93% | -1.69% | -28.28% | -3.23% |
Correlation
The correlation between PAM and NOV 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 | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2009 | 0.24 |
Fundamentals
PAM:
$4.81B
NOV:
$7.69B
PAM:
$8.05
NOV:
$0.25
PAM:
10.99
NOV:
85.80
PAM:
0.12
NOV:
1.05
PAM:
2.23
NOV:
0.90
PAM:
1.27
NOV:
1.23
PAM:
$2.16B
NOV:
$8.69B
PAM:
$682.00M
NOV:
$1.70B
PAM:
$1.22B
NOV:
$633.00M
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Return for Risk
PAM vs. NOV — Risk / Return Rank
PAM
NOV
PAM vs. NOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pampa Energía S.A. (PAM) and National Oilwell Varco, Inc. (NOV). 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.
| PAM | NOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.28 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 3.91 | -3.41 |
| Martin ratioReturn relative to average drawdown | 1.23 | 10.14 | -8.91 |
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Drawdowns
PAM vs. NOV - Drawdown Comparison
The maximum PAM drawdown since its inception was -87.41%, roughly equal to the maximum NOV drawdown of -89.77%. Use the drawdown chart below to compare losses from any high point for PAM and NOV.
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Drawdown Indicators
| PAM | NOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.41% | -89.77% | +2.36% |
Max Drawdown (1Y)Largest decline over 1 year | -31.59% | -16.10% | -15.49% |
Max Drawdown (3Y)Largest decline over 3 years | -40.40% | -47.15% | +6.75% |
Max Drawdown (5Y)Largest decline over 5 years | -40.40% | -53.70% | +13.30% |
Max Drawdown (10Y)Largest decline over 10 years | -87.41% | -83.26% | -4.15% |
Current DrawdownCurrent decline from peak | -6.75% | -70.35% | +63.60% |
Average DrawdownAverage peak-to-trough decline | -42.47% | -45.20% | +2.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.89% | 6.20% | +6.69% |
Volatility
PAM vs. NOV - Volatility Comparison
The current volatility for Pampa Energía S.A. (PAM) is 10.62%, while National Oilwell Varco, Inc. (NOV) has a volatility of 11.51%. This indicates that PAM experiences smaller price fluctuations and is considered to be less risky than NOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAM | NOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.62% | 11.51% | -0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 24.49% | 26.13% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.19% | 38.20% | +12.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.29% | 42.45% | +3.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.94% | 47.27% | +4.67% |
Dividends
PAM vs. NOV - Dividend Comparison
PAM has not paid dividends to shareholders, while NOV's dividend yield for the trailing twelve months is around 2.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOV National Oilwell Varco, Inc. | 1.99% | 3.26% | 1.88% | 0.99% | 0.96% | 0.37% | 0.36% | 0.80% | 0.78% | 0.56% | 1.63% | 5.49% |
PAM Pampa Energía S.A. | 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
PAM vs. NOV - Financials Comparison
This section allows you to compare key financial metrics between Pampa Energía S.A. and National Oilwell Varco, 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
PAM vs. NOV - Profitability Comparison
PAM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pampa Energía S.A. reported a gross profit of 193.00M and revenue of 573.00M. Therefore, the gross margin over that period was 33.7%.
NOV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported a gross profit of 379.00M and revenue of 2.05B. Therefore, the gross margin over that period was 18.5%.
PAM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pampa Energía S.A. reported an operating income of 107.00M and revenue of 573.00M, resulting in an operating margin of 18.7%.
NOV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported an operating income of 47.00M and revenue of 2.05B, resulting in an operating margin of 2.3%.
PAM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pampa Energía S.A. reported a net income of 214.00M and revenue of 573.00M, resulting in a net margin of 37.4%.
NOV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported a net income of 19.00M and revenue of 2.05B, resulting in a net margin of 0.9%.
Frequently Asked Questions
PAM and NOV 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.
NOV has higher volatility (11.51%) compared to PAM (10.62%). In terms of maximum drawdown, PAM dropped -87.41% vs NOV's -89.77%.
NOV currently has the higher Sharpe Ratio (1.65 vs 0.31), 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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