UNH vs. NVO
UNH (UnitedHealth Group Incorporated) and NVO (Novo Nordisk A/S) are both stocks. Both are in the Healthcare sector — UNH in Healthcare Plans, NVO in Drug Manufacturers - General. Over the past 10 years, UNH returned 13.22%/yr vs 8.18%/yr for NVO. At a 0.15 correlation, their price movements are largely independent.
Performance
UNH vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, UNH achieves a 29.43% return, which is significantly higher than NVO's 0.91% return. Over the past 10 years, UNH has outperformed NVO with an annualized return of 13.22%, while NVO has yielded a comparatively lower 8.18% annualized return.
UNH
- 1D
- -1.07%
- 1M
- 5.14%
- 6M
- 29.07%
- YTD
- 29.43%
- 1Y
- 53.14%
- 3Y*
- -4.02%
- 5Y*
- 2.11%
- 10Y*
- 13.22%
- ALL TIME*
- 23.05%
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%
UNH vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UNH UnitedHealth Group Incorporated | 29.43% | -33.14% | -2.41% | 0.80% | 6.94% | 45.20% | 21.25% | 20.00% | 14.52% | 39.83% |
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 UNH and NVO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 1990 | 0.15 |
The correlation between UNH and NVO shifts across timeframes, from 0.15 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
UNH:
$382.83B
NVO:
$220.46B
UNH:
$15.53
NVO:
DKK 27.42
UNH:
27.15
NVO:
11.83
UNH:
0.85
NVO:
4.40
UNH:
3.65
NVO:
7.11
UNH:
$450.13B
NVO:
DKK 327.80B
UNH:
$101.21B
NVO:
DKK 268.30B
UNH:
$25.76B
NVO:
DKK 181.54B
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Return for Risk
UNH vs. NVO — Risk / Return Rank
UNH
NVO
UNH vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UnitedHealth Group Incorporated (UNH) 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.
| UNH | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.73 | ||
| Sortino ratioReturn per unit of downside risk | +2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.97 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | -0.39 | +2.24 |
| Martin ratioReturn relative to average drawdown | 4.38 | -0.61 | +4.99 |
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Drawdowns
UNH vs. NVO - Drawdown Comparison
The maximum UNH drawdown since its inception was -74.37%, roughly equal to the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for UNH and NVO.
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Drawdown Indicators
| UNH | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.37% | -74.70% | +0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -28.96% | -49.17% | +20.21% |
Max Drawdown (3Y)Largest decline over 3 years | -61.39% | -74.70% | +13.31% |
Max Drawdown (5Y)Largest decline over 5 years | -61.39% | -74.70% | +13.31% |
Max Drawdown (10Y)Largest decline over 10 years | -61.39% | -74.70% | +13.31% |
Current DrawdownCurrent decline from peak | -29.72% | -63.95% | +34.23% |
Average DrawdownAverage peak-to-trough decline | -14.81% | -17.89% | +3.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.16% | 31.75% | -19.59% |
Volatility
UNH vs. NVO - Volatility Comparison
The current volatility for UnitedHealth Group Incorporated (UNH) is 7.16%, while Novo Nordisk A/S (NVO) has a volatility of 9.48%. This indicates that UNH experiences smaller price fluctuations and is considered to be less risky 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
| UNH | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 9.48% | -2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 31.06% | 37.43% | -6.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.54% | 51.79% | -12.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.99% | 38.58% | -6.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.27% | 32.63% | -2.36% |
Dividends
UNH vs. NVO - Dividend Comparison
UNH's dividend yield for the trailing twelve months is around 2.12%, less than NVO's 3.63% yield.
| 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% |
UNH UnitedHealth Group Incorporated | 2.12% | 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. NVO - Financials Comparison
This section allows you to compare key financial metrics between UnitedHealth Group Incorporated 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
UNH vs. NVO - Profitability Comparison
UNH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, UnitedHealth Group Incorporated reported a gross profit of 36.67B and revenue of 112.03B. Therefore, the gross margin over that period was 32.7%.
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%.
UNH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, UnitedHealth Group Incorporated reported an operating income of 7.99B and revenue of 112.03B, 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 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%.
UNH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, UnitedHealth Group Incorporated reported a net income of 5.48B and revenue of 112.03B, resulting in a net margin of 4.9%.
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
UNH and NVO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVO has higher volatility (9.48%) compared to UNH (7.16%). In terms of maximum drawdown, UNH dropped -74.37% vs NVO's -74.70%.
UNH currently has the higher Sharpe Ratio (1.35 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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