Novo Nordisk (NVO) stock vs the S&P 500 and pharmaceutical stocks
As of 2 October 2026, Novo Nordisk (NVO) is among the weakest stocks we track. It is well behind the S&P 500 and behind pharmaceutical stocks as a group (PPH) over the past three months.
Where Novo Nordisk stands now
As of 2 October 2026, Novo Nordisk is behind the S&P 500 on every window Zensei tracks, from one month to one year. The market has preferred other stocks for some time.
Inside its group, NVO lags: it is behind pharmaceutical stocks (PPH) over both the past month and three months. As a group, pharmaceutical stocks are losing ground to the S&P 500 right now. The group is in transition, so the stock's place inside it matters more than usual.
Novo Nordisk is 5.0% of PPH, so its moves weigh on the fund. The thing to watch is the past month: stocks this far behind only become interesting once the recent window turns.
NVO vs the S&P 500: returns
Novo Nordisk and the S&P 500 (SPY) side by side, over each window Zensei tracks.
Prices as of · computed from daily adjusted closes · how we measure
NVO against pharmaceutical stocks, in depth
See the size of the gap between Novo Nordisk and pharmaceutical stocks (PPH) over every window, its momentum and its relative strength, and where it sits among pharmaceutical stocks.
See the full analysisWhich ETFs hold Novo Nordisk?
One fund that Zensei tracks holds NVO, by weight. The fund with the largest weight is its sector on this page.
Novo Nordisk competitors
The largest other holdings of VanEck Pharmaceutical ETF (PPH), with their return over the past month.
Novo Nordisk stock: common questions
Is Novo Nordisk stock beating the S&P 500?
As of 2 October 2026, Novo Nordisk (NVO) is down 17.3% over the past month. The S&P 500 is up 1.3% over the same month. Over three months, the stock is down 25.0% and the S&P 500 is up 3.6%.
Which ETFs hold Novo Nordisk?
As of 2 October 2026, one fund that Zensei tracks holds NVO. Its largest weight is in VanEck Pharmaceutical ETF (PPH), at 5.0%.
Who are Novo Nordisk's competitors?
As of 2 October 2026, the largest other holdings of VanEck Pharmaceutical ETF (PPH) are Eli Lilly (LLY), Merck & Co Inc (MRK), Novartis AG (NVS), Pfizer (PFE), Bristol-Myers Squibb Co (BMY). These are the stocks Novo Nordisk sits next to among pharmaceutical stocks.
Is Novo Nordisk doing better than other pharmaceutical stocks?
As of 2 October 2026, Novo Nordisk (NVO) is behind pharmaceutical stocks as a group (PPH) over the past three months. Zensei Edge shows the size of the gap, its momentum and its relative strength.
Track Novo Nordisk against pharmaceutical stocks and the market
Zensei Edge maps 100+ sectors and themes against the S&P 500, with each stock inside them measured against its group.