TRP vs. NVS
TRP (TC Energy Corporation) and NVS (Novartis AG) are both stocks. TRP operates in Oil & Gas Midstream (Energy), while NVS operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, TRP returned 12.24%/yr vs 11.14%/yr for NVS. At a 0.27 correlation, their price movements are largely independent.
Performance
TRP vs. NVS - Performance Comparison
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Returns By Period
In the year-to-date period, TRP achieves a 27.41% return, which is significantly higher than NVS's 14.40% return. Over the past 10 years, TRP has outperformed NVS with an annualized return of 12.24%, while NVS has yielded a comparatively lower 11.14% annualized return.
TRP
- 1D
- 0.12%
- 1M
- 3.47%
- YTD
- 27.41%
- 6M
- 29.66%
- 1Y
- 45.12%
- 3Y*
- 30.95%
- 5Y*
- 14.55%
- 10Y*
- 12.24%
NVS
- 1D
- -0.55%
- 1M
- 2.22%
- YTD
- 14.40%
- 6M
- 18.98%
- 1Y
- 30.60%
- 3Y*
- 19.57%
- 5Y*
- 14.77%
- 10Y*
- 11.14%
TRP vs. NVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRP TC Energy Corporation | 27.41% | 24.02% | 39.88% | 6.09% | -7.83% | 20.99% | -19.09% | 56.30% | -22.64% | 13.51% |
NVS Novartis AG | 14.40% | 46.95% | 0.02% | 16.14% | 8.06% | -3.65% | 3.34% | 13.92% | 5.95% | 19.42% |
Correlation
The correlation between TRP and NVS 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 | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 1996 | 0.27 |
Fundamentals
TRP:
$72.30B
NVS:
$293.28B
TRP:
CA$3.31
NVS:
$6.99
TRP:
29.33
NVS:
21.90
TRP:
0.40
NVS:
1.48
TRP:
6.40
NVS:
5.29
TRP:
3.99
NVS:
7.62
TRP:
CA$15.76B
NVS:
$56.05B
TRP:
CA$8.07B
NVS:
$42.19B
TRP:
CA$10.90B
NVS:
$22.40B
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Return for Risk
TRP vs. NVS — Risk / Return Rank
TRP
NVS
TRP vs. NVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP) 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.
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.
| TRP | NVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.26 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.70 | 2.43 | +2.27 |
| Martin ratioReturn relative to average drawdown | 14.42 | 5.88 | +8.54 |
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Drawdowns
TRP vs. NVS - Drawdown Comparison
The maximum TRP drawdown since its inception was -62.52%, which is greater than NVS's maximum drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for TRP and NVS.
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Drawdown Indicators
| TRP | NVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.52% | -42.10% | -20.42% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -12.65% | +3.00% |
Max Drawdown (3Y)Largest decline over 3 years | -17.00% | -19.95% | +2.95% |
Max Drawdown (5Y)Largest decline over 5 years | -37.05% | -20.42% | -16.63% |
Max Drawdown (10Y)Largest decline over 10 years | -41.64% | -26.03% | -15.61% |
Current DrawdownCurrent decline from peak | -2.14% | -6.46% | +4.32% |
Average DrawdownAverage peak-to-trough decline | -11.72% | -10.92% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 5.23% | -1.97% |
Volatility
TRP vs. NVS - Volatility Comparison
The current volatility for TC Energy Corporation (TRP) is 5.62%, while Novartis AG (NVS) has a volatility of 7.18%. This indicates that TRP experiences smaller price fluctuations and is considered to be less risky than NVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRP | NVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 7.18% | -1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 13.27% | 14.96% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 21.02% | -3.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.86% | 18.89% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.83% | 19.64% | +5.19% |
Dividends
TRP vs. NVS - Dividend Comparison
TRP's dividend yield for the trailing twelve months is around 3.58%, more than NVS's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVS Novartis AG | 3.12% | 2.90% | 3.84% | 3.44% | 3.70% | 3.86% | 3.22% | 3.03% | 3.47% | 3.24% | 3.73% | 3.10% |
TRP TC Energy Corporation | 3.58% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
Financials
TRP vs. NVS - Financials Comparison
This section allows you to compare key financial metrics between TC Energy Corporation and Novartis AG. 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
TRP vs. NVS - Profitability Comparison
TRP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a gross profit of 2.41B and revenue of 4.24B. Therefore, the gross margin over that period was 56.7%.
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%.
TRP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported an operating income of 2.21B and revenue of 4.24B, resulting in an operating margin of 52.1%.
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%.
TRP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a net income of 929.40M and revenue of 4.24B, resulting in a net margin of 21.9%.
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
TRP and NVS 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.
NVS has higher volatility (7.18%) compared to TRP (5.62%). In terms of maximum drawdown, TRP dropped -62.52% vs NVS's -42.10%.
TRP currently has the higher Sharpe Ratio (2.56 vs 1.47), 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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