UNH vs. JNJ

Last updated Jun 3, 2026

UNH (UnitedHealth Group Incorporated) and JNJ (Johnson & Johnson) are both stocks. Both are in the Healthcare sector — UNH in Healthcare Plans, JNJ in Drug Manufacturers - General. Over the past 10 years, UNH returned 12.52%/yr vs 9.83%/yr for JNJ. At a 0.30 correlation, their price movements are largely independent.

Performance

UNH vs. JNJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UnitedHealth Group Incorporated (UNH) and Johnson & Johnson (JNJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UNH achieves a 15.37% return, which is significantly higher than JNJ's 8.90% return. Over the past 10 years, UNH has outperformed JNJ with an annualized return of 12.52%, while JNJ has yielded a comparatively lower 9.83% annualized return.

UNH

• 1D: -0.51%
• 1M: 2.48%
• YTD: 15.37%
• 6M: 18.14%
• 1Y: 27.52%
• 3Y*: -7.07%
• 5Y*: 0.18%
• 10Y*: 12.52%

JNJ

• 1D: -0.28%
• 1M: -1.33%
• YTD: 8.90%
• 6M: 9.71%
• 1Y: 47.01%
• 3Y*: 15.73%
• 5Y*: 9.09%
• 10Y*: 9.83%

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

UNH vs. JNJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UNH UnitedHealth Group Incorporated	15.37%	-33.14%	-2.41%	0.80%	6.94%	45.20%	21.25%	20.00%	14.52%	39.83%
JNJ Johnson & Johnson	8.90%	47.48%	-4.81%	-8.58%	5.97%	11.44%	10.82%	16.22%	-5.13%	24.43%

Correlation

The correlation between UNH and JNJ is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990	0.30

The correlation between UNH and JNJ shifts across timeframes, from 0.11 (1 year) to 0.35 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap UNH : $343.91B JNJ : $545.01B
EPS UNH : $13.23 JNJ : $8.65
PE Ratio UNH : 28.57 JNJ : 25.77
PS Ratio UNH : 0.77 JNJ : 5.63
PB Ratio UNH : 3.31 JNJ : 6.71
Total Revenue (TTM) UNH : $449.71B JNJ : $96.36B
Gross Profit (TTM) UNH : $84.55B JNJ : $66.60B
EBITDA (TTM) UNH : $22.99B JNJ : $31.62B

Return for Risk

UNH vs. JNJ — Risk / Return Rank

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

UNH

UNH Risk / Return Rank: 60
UNH Sharpe Ratio Rank: 63
UNH Sortino Ratio Rank: 57
UNH Omega Ratio Rank: 60
UNH Calmar Ratio Rank: 61
UNH Martin Ratio Rank: 61

JNJ

JNJ Risk / Return Rank: 92
JNJ Sharpe Ratio Rank: 93
JNJ Sortino Ratio Rank: 95
JNJ Omega Ratio Rank: 93
JNJ Calmar Ratio Rank: 88
JNJ Martin Ratio Rank: 91

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.

UNH vs. JNJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UnitedHealth Group Incorporated (UNH) and Johnson & Johnson (JNJ). 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.

	UNH	JNJ	Difference
Sharpe ratio Return per unit of total volatility	0.69	2.83	-2.14
Sortino ratio Return per unit of downside risk	1.14	4.17	-3.03
Omega ratio Gain probability vs. loss probability	1.17	1.51	-0.34
Calmar ratio Return relative to maximum drawdown	0.99	4.31	-3.32
Martin ratio Return relative to average drawdown	2.18	13.20	-11.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UNH vs. JNJ - Sharpe Ratio Comparison

The current UNH Sharpe Ratio is 0.69, which is lower than the JNJ Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of UNH and JNJ, 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

	UNH	JNJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	2.83	-2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.54	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.53	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.53	+0.10

Drawdowns

UNH vs. JNJ - Drawdown Comparison

The maximum UNH drawdown since its inception was -74.37%, which is greater than JNJ's maximum drawdown of -50.67%. Use the drawdown chart below to compare losses from any high point for UNH and JNJ.

Drawdown Indicators

	UNH	JNJ	Difference
Max Drawdown Largest peak-to-trough decline	-74.37%	-50.67%	-23.70%
Max Drawdown (1Y) Largest decline over 1 year	-28.96%	-10.96%	-18.00%
Max Drawdown (3Y) Largest decline over 3 years	-61.39%	-15.95%	-45.44%
Max Drawdown (5Y) Largest decline over 5 years	-61.39%	-18.41%	-42.98%
Max Drawdown (10Y) Largest decline over 10 years	-61.39%	-27.37%	-34.02%
Current Drawdown Current decline from peak	-37.35%	-9.81%	-27.54%
Average Drawdown Average peak-to-trough decline	-14.76%	-11.88%	-2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.18%	3.58%	+9.60%

Volatility

UNH vs. JNJ - Volatility Comparison

UnitedHealth Group Incorporated (UNH) has a higher volatility of 6.91% compared to Johnson & Johnson (JNJ) at 5.36%. This indicates that UNH's price experiences larger fluctuations and is considered to be riskier than JNJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UNH	JNJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.91%	5.36%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	30.89%	12.19%	+18.70%
Volatility (1Y) Calculated over the trailing 1-year period	39.87%	16.67%	+23.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.78%	16.82%	+14.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.15%	18.45%	+11.70%

Dividends

UNH vs. JNJ - Dividend Comparison

UNH's dividend yield for the trailing twelve months is around 2.34%, which matches JNJ's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JNJ Johnson & Johnson	2.35%	2.48%	3.40%	3.00%	2.52%	2.45%	2.53%	2.57%	2.74%	2.38%	2.73%	2.87%
UNH UnitedHealth Group Incorporated	2.34%	2.64%	1.62%	1.38%	1.21%	1.12%	1.38%	1.41%	1.38%	1.30%	1.48%	1.59%

Financials

UNH vs. JNJ - Profitability Comparison

The chart below illustrates the profitability comparison between UnitedHealth Group Incorporated and Johnson & Johnson over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

UNH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, UnitedHealth Group Incorporated reported a gross profit of 25.41B and revenue of 111.72B. Therefore, the gross margin over that period was 22.7%.

JNJ - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Johnson & Johnson reported a gross profit of 17.20B and revenue of 24.06B. Therefore, the gross margin over that period was 71.5%.

UNH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, UnitedHealth Group Incorporated reported an operating income of 8.99B and revenue of 111.72B, resulting in an operating margin of 8.1%.

JNJ - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Johnson & Johnson reported an operating income of 6.40B and revenue of 24.06B, resulting in an operating margin of 26.6%.

UNH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, UnitedHealth Group Incorporated reported a net income of 6.28B and revenue of 111.72B, resulting in a net margin of 5.6%.

JNJ - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Johnson & Johnson reported a net income of 5.24B and revenue of 24.06B, resulting in a net margin of 21.8%.

Frequently Asked Questions

Can I hold both UNH and JNJ in my portfolio?

UNH and JNJ 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.

Which is riskier, UNH or JNJ?

UNH has higher volatility (6.91%) compared to JNJ (5.36%). In terms of maximum drawdown, UNH dropped -74.37% vs JNJ's -50.67%.

Which has better risk-adjusted returns?

JNJ currently has the higher Sharpe Ratio (2.83 vs 0.69), 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.