TNDM vs. NVO
TNDM (Tandem Diabetes Care, Inc.) and NVO (Novo Nordisk A/S) are both stocks. Both are in the Healthcare sector — TNDM in Medical Devices, NVO in Drug Manufacturers - General. Over the past 10 years, TNDM returned -10.99%/yr vs 7.55%/yr for NVO. Their 0.18 correlation means their historical movements had little consistent relationship.
Performance
TNDM vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, TNDM achieves a -11.28% return, which is significantly lower than NVO's -4.23% return. Over the past 10 years, TNDM has underperformed NVO with an annualized return of -10.99%, while NVO has yielded a comparatively higher 7.55% annualized return.
TNDM
- 1D
- 2.58%
- 1M
- 27.28%
- 6M
- -1.96%
- YTD
- -11.28%
- 1Y
- 26.62%
- 3Y*
- -15.44%
- 5Y*
- -29.08%
- 10Y*
- -10.99%
- ALL TIME*
- -16.57%
NVO
- 1D
- -8.78%
- 1M
- -6.64%
- 6M
- -18.01%
- YTD
- -4.23%
- 1Y
- 2.25%
- 3Y*
- -14.32%
- 5Y*
- 2.48%
- 10Y*
- 7.55%
- ALL TIME*
- 14.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $504.41M | $480.49M | $577.88M | |
| $30.05M | $27.81M | $39.07M |
TNDM vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TNDM Tandem Diabetes Care, Inc. | -11.28% | -38.98% | 21.77% | -34.19% | -70.14% | 57.32% | 60.51% | 56.99% | 1,508.90% | -89.02% |
NVO Novo Nordisk A/S | -4.23% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between TNDM and NVO is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.19 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2013 | 0.18 |
Fundamentals
TNDM:
$1.34B
NVO:
$209.19B
TNDM:
-$1.39
NVO:
DKK 27.42
TNDM:
1.29
NVO:
4.15
TNDM:
10.07
NVO:
6.70
TNDM:
$1.03B
NVO:
DKK 327.80B
TNDM:
$564.40M
NVO:
DKK 268.30B
TNDM:
-$75.59M
NVO:
DKK 181.54B
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Return for Risk
TNDM vs. NVO — Risk / Return Rank
TNDM
NVO
TNDM vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tandem Diabetes Care, Inc. (TNDM) 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.
| TNDM | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.06 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 0.11 | +0.35 |
| Martin ratioReturn relative to average drawdown | 0.97 | 0.20 | +0.77 |
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Drawdowns
TNDM vs. NVO - Drawdown Comparison
The maximum TNDM drawdown since its inception was -99.25%, which is greater than NVO's maximum drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for TNDM and NVO.
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Drawdown Indicators
| TNDM | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.25% | -74.70% | -24.55% |
Max Drawdown (1Y)Largest decline over 1 year | -54.64% | -43.67% | -10.97% |
Max Drawdown (3Y)Largest decline over 3 years | -81.07% | -74.70% | -6.37% |
Max Drawdown (5Y)Largest decline over 5 years | -93.40% | -74.70% | -18.70% |
Max Drawdown (10Y)Largest decline over 10 years | -97.44% | -74.70% | -22.74% |
Current DrawdownCurrent decline from peak | -93.50% | -65.79% | -27.71% |
Average DrawdownAverage peak-to-trough decline | -77.37% | -17.93% | -59.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.18% | 23.97% | +2.21% |
Volatility
TNDM vs. NVO - Volatility Comparison
Tandem Diabetes Care, Inc. (TNDM) has a higher volatility of 14.81% compared to Novo Nordisk A/S (NVO) at 12.28%. This indicates that TNDM'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
| TNDM | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.81% | 12.28% | +2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 59.01% | 36.87% | +22.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 79.74% | 46.77% | +32.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.28% | 38.76% | +29.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 77.77% | 32.76% | +45.01% |
Dividends
TNDM vs. NVO - Dividend Comparison
TNDM has not paid dividends to shareholders, while NVO's dividend yield for the trailing twelve months is around 3.83%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | 3.83% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
TNDM Tandem Diabetes Care, 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
TNDM vs. NVO - Financials Comparison
This section allows you to compare key financial metrics between Tandem Diabetes Care, 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
TNDM vs. NVO - Profitability Comparison
TNDM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Tandem Diabetes Care, Inc. reported a gross profit of 136.79M and revenue of 247.22M. Therefore, the gross margin over that period was 55.3%.
NVO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 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%.
TNDM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Tandem Diabetes Care, Inc. reported an operating income of -17.43M and revenue of 247.22M, resulting in an operating margin of -7.1%.
NVO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 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%.
TNDM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Tandem Diabetes Care, Inc. reported a net income of -20.39M and revenue of 247.22M, resulting in a net margin of -8.3%.
NVO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 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
TNDM and NVO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TNDM has higher volatility (14.81%) compared to NVO (12.28%). In terms of maximum drawdown, TNDM dropped -99.25% vs NVO's -74.70%.
TNDM currently has the higher Sharpe Ratio (0.32 vs 0.10), 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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