SPG vs. NVS

Last updated Jun 4, 2026

SPG (Simon Property Group, Inc.) and NVS (Novartis AG) are both stocks. SPG operates in REIT - Retail (Real Estate), while NVS operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, SPG returned 5.39%/yr vs 9.84%/yr for NVS. At a 0.25 correlation, their price movements are largely independent.

Performance

SPG vs. NVS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simon Property Group, Inc. (SPG) and Novartis AG (NVS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPG achieves a 11.23% return, which is significantly higher than NVS's 7.37% return. Over the past 10 years, SPG has underperformed NVS with an annualized return of 5.39%, while NVS has yielded a comparatively higher 9.84% annualized return.

SPG

• 1D: 0.01%
• 1M: 1.01%
• YTD: 11.23%
• 6M: 14.33%
• 1Y: 32.08%
• 3Y*: 30.83%
• 5Y*: 14.96%
• 10Y*: 5.39%

NVS

• 1D: 0.13%
• 1M: -0.66%
• YTD: 7.37%
• 6M: 10.70%
• 1Y: 27.68%
• 3Y*: 17.23%
• 5Y*: 14.04%
• 10Y*: 9.84%

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

SPG vs. NVS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPG Simon Property Group, Inc.	11.23%	12.94%	26.92%	29.24%	-21.91%	95.72%	-38.64%	-6.74%	2.55%	0.98%
NVS Novartis AG	7.37%	46.95%	0.02%	16.14%	8.06%	-3.65%	3.34%	13.92%	5.95%	19.42%

Correlation

The correlation between SPG and NVS is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Nov 8, 1996	0.25

The correlation between SPG and NVS shifts across timeframes, from 0.23 (10 years) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

EPS SPG : $17.14 NVS : $6.99
PE Ratio SPG : 11.88 NVS : 20.55
PEG Ratio SPG : 0.47 NVS : 1.39
PS Ratio SPG : 7.50 NVS : 4.96
Total Revenue (TTM) SPG : $6.65B NVS : $56.05B
Gross Profit (TTM) SPG : $5.71B NVS : $42.19B
EBITDA (TTM) SPG : $7.77B NVS : $22.40B

Return for Risk

SPG vs. NVS — Risk / Return Rank

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

SPG

SPG Risk / Return Rank: 83
SPG Sharpe Ratio Rank: 85
SPG Sortino Ratio Rank: 83
SPG Omega Ratio Rank: 79
SPG Calmar Ratio Rank: 80
SPG Martin Ratio Rank: 87

NVS

NVS Risk / Return Rank: 75
NVS Sharpe Ratio Rank: 79
NVS Sortino Ratio Rank: 73
NVS Omega Ratio Rank: 71
NVS Calmar Ratio Rank: 76
NVS Martin Ratio Rank: 76

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.

SPG vs. NVS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simon Property Group, Inc. (SPG) and Novartis AG (NVS). 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.

	SPG	NVS	Difference
Sharpe ratio Return per unit of total volatility	1.77	1.37	+0.40
Sortino ratio Return per unit of downside risk	2.56	1.94	+0.62
Omega ratio Gain probability vs. loss probability	1.30	1.24	+0.06
Calmar ratio Return relative to maximum drawdown	2.79	2.20	+0.59
Martin ratio Return relative to average drawdown	10.06	5.52	+4.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPG vs. NVS - Sharpe Ratio Comparison

The current SPG Sharpe Ratio is 1.77, which is comparable to the NVS Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of SPG and NVS, 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

	SPG	NVS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.37	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.75	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.50	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.42	-0.03

Drawdowns

SPG vs. NVS - Drawdown Comparison

The maximum SPG drawdown since its inception was -77.00%, which is greater than NVS's maximum drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for SPG and NVS.

Drawdown Indicators

	SPG	NVS	Difference
Max Drawdown Largest peak-to-trough decline	-77.00%	-42.10%	-34.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	-12.65%	+1.11%
Max Drawdown (3Y) Largest decline over 3 years	-24.32%	-19.95%	-4.37%
Max Drawdown (5Y) Largest decline over 5 years	-45.84%	-20.42%	-25.42%
Max Drawdown (10Y) Largest decline over 10 years	-77.00%	-26.03%	-50.97%
Current Drawdown Current decline from peak	-1.93%	-12.21%	+10.28%
Average Drawdown Average peak-to-trough decline	-13.85%	-10.93%	-2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	5.03%	-1.83%

Volatility

SPG vs. NVS - Volatility Comparison

Simon Property Group, Inc. (SPG) and Novartis AG (NVS) have volatilities of 5.45% and 5.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPG	NVS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.45%	5.62%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	13.61%	14.25%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	18.25%	20.28%	-2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.50%	18.78%	+7.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.06%	19.59%	+17.47%

Dividends

SPG vs. NVS - Dividend Comparison

SPG's dividend yield for the trailing twelve months is around 4.25%, more than NVS's 3.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVS Novartis AG	3.32%	2.90%	3.84%	3.44%	3.70%	3.86%	3.22%	3.03%	3.47%	3.24%	3.73%	3.10%
SPG Simon Property Group, Inc.	4.25%	4.62%	4.70%	5.22%	5.87%	3.66%	7.04%	5.57%	4.70%	4.16%	3.66%	3.11%

Financials

SPG vs. NVS - Profitability Comparison

The chart below illustrates the profitability comparison between Simon Property Group, Inc. and Novartis AG over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SPG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported a gross profit of 1.45B and revenue of 1.76B. Therefore, the gross margin over that period was 82.5%.

NVS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Novartis AG reported a gross profit of 10.07B and revenue of 13.52B. Therefore, the gross margin over that period was 74.4%.

SPG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported an operating income of 762.16M and revenue of 1.76B, resulting in an operating margin of 43.4%.

NVS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Novartis AG reported an operating income of 4.24B and revenue of 13.52B, resulting in an operating margin of 31.3%.

SPG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported a net income of 1.48K and revenue of 1.76B, resulting in a net margin of 0.0%.

NVS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Novartis AG reported a net income of 3.16B and revenue of 13.52B, resulting in a net margin of 23.3%.

Frequently Asked Questions

Can I hold both SPG and NVS in my portfolio?

SPG and NVS have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPG or NVS?

NVS has higher volatility (5.62%) compared to SPG (5.45%). In terms of maximum drawdown, SPG dropped -77.00% vs NVS's -42.10%.

Which has better risk-adjusted returns?

SPG currently has the higher Sharpe Ratio (1.77 vs 1.37), 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.