PANW vs. NVO
PANW (Palo Alto Networks, Inc.) and NVO (Novo Nordisk A/S) are both stocks. PANW operates in Software - Infrastructure (Technology), while NVO operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, PANW returned 32.08%/yr vs 8.18%/yr for NVO. At a 0.24 correlation, their price movements are largely independent.
Performance
PANW vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, PANW achieves a 89.28% return, which is significantly higher than NVO's 0.91% return. Over the past 10 years, PANW has outperformed NVO with an annualized return of 32.08%, while NVO has yielded a comparatively lower 8.18% annualized return.
PANW
- 1D
- -2.79%
- 1M
- 21.16%
- 6M
- 85.79%
- YTD
- 89.28%
- 1Y
- 78.09%
- 3Y*
- 41.95%
- 5Y*
- 39.80%
- 10Y*
- 32.08%
- ALL TIME*
- 29.66%
NVO
- 1D
- -1.41%
- 1M
- 14.86%
- 6M
- -17.63%
- YTD
- 0.91%
- 1Y
- -19.26%
- 3Y*
- -13.51%
- 5Y*
- 4.43%
- 10Y*
- 8.18%
- ALL TIME*
- 14.52%
PANW vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PANW Palo Alto Networks, Inc. | 89.28% | 1.23% | 23.41% | 111.32% | -24.81% | 56.66% | 53.68% | 22.78% | 29.95% | 15.91% |
NVO Novo Nordisk A/S | 0.91% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between PANW and NVO 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 | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2012 | 0.24 |
Fundamentals
PANW:
$237.62B
NVO:
$220.46B
PANW:
$1.17
NVO:
DKK 27.42
PANW:
297.34
NVO:
11.83
PANW:
0.02
NVO:
0.51
PANW:
23.63
NVO:
4.40
PANW:
9.38
NVO:
7.11
PANW:
$10.61B
NVO:
DKK 327.80B
PANW:
$7.63B
NVO:
DKK 268.30B
PANW:
$1.33B
NVO:
DKK 181.54B
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Return for Risk
PANW vs. NVO — Risk / Return Rank
PANW
NVO
PANW vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Palo Alto Networks, Inc. (PANW) 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.
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.
| PANW | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.27 | ||
| Sortino ratioReturn per unit of downside risk | +2.62 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.97 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | -0.39 | +2.57 |
| Martin ratioReturn relative to average drawdown | 4.95 | -0.61 | +5.56 |
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Drawdowns
PANW vs. NVO - Drawdown Comparison
The maximum PANW drawdown since its inception was -47.98%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for PANW and NVO.
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Drawdown Indicators
| PANW | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.98% | -74.70% | +26.72% |
Max Drawdown (1Y)Largest decline over 1 year | -36.01% | -49.17% | +13.16% |
Max Drawdown (3Y)Largest decline over 3 years | -36.01% | -74.70% | +38.69% |
Max Drawdown (5Y)Largest decline over 5 years | -36.01% | -74.70% | +38.69% |
Max Drawdown (10Y)Largest decline over 10 years | -47.98% | -74.70% | +26.72% |
Current DrawdownCurrent decline from peak | -2.79% | -63.95% | +61.16% |
Average DrawdownAverage peak-to-trough decline | -14.61% | -17.89% | +3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.83% | 31.75% | -15.92% |
Volatility
PANW vs. NVO - Volatility Comparison
Palo Alto Networks, Inc. (PANW) has a higher volatility of 16.86% compared to Novo Nordisk A/S (NVO) at 9.48%. This indicates that PANW'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
| PANW | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.86% | 9.48% | +7.38% |
Volatility (6M)Calculated over the trailing 6-month period | 35.54% | 37.43% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.49% | 51.79% | -10.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.35% | 38.58% | +3.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.89% | 32.63% | +6.26% |
Dividends
PANW vs. NVO - Dividend Comparison
PANW has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 3.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | 3.63% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
PANW Palo Alto Networks, Inc. | 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
PANW vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between Palo Alto Networks, Inc. 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
PANW vs. NVO - Profitability Comparison
PANW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Palo Alto Networks, Inc. reported a gross profit of 2.03B and revenue of 3.00B. Therefore, the gross margin over that period was 67.6%.
NVO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.
PANW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Palo Alto Networks, Inc. reported an operating income of -186.00M and revenue of 3.00B, resulting in an operating margin of -6.2%.
NVO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 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%.
PANW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Palo Alto Networks, Inc. reported a net income of -177.00M and revenue of 3.00B, resulting in a net margin of -5.9%.
NVO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 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
PANW and NVO 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.
PANW has higher volatility (16.86%) compared to NVO (9.48%). In terms of maximum drawdown, PANW dropped -47.98% vs NVO's -74.70%.
PANW currently has the higher Sharpe Ratio (1.90 vs -0.37), 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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