Cenovus Energy Earnings Estimate
| CVE Stock | CAD 21.78 0.40 1.80% |
Cenovus |
Cenovus Energy Earnings per Share Projection vs Actual
About Cenovus Energy Earnings Estimate
The earnings estimate module is a useful tool to check what professional financial analysts are assuming about the future of Cenovus Energy earnings. We show available consensus EPS estimates for the upcoming years and quarters. Investors can also examine how these consensus opinions have evolved historically. We show current Cenovus Energy estimates, future projections, as well as estimates 1, 2, and three years ago. Investors can search for a specific entity to conduct investment planning and build diversified portfolios. Please note, earnings estimates provided by Macroaxis are the average expectations of expert analysts that we track. If a given stock such as Cenovus Energy fails to match professional earnings estimates, it usually performs purely. Wall Street refers to that as a 'negative surprise.' If a company 'beats' future estimates, it's usually called an 'upside surprise.'
Please read more on our stock advisor page.| Last Reported | Projected for Next Year | ||
| Retained Earnings | 8.9 B | 9.4 B | |
| Earnings Yield | 0.10 | 0.10 | |
| Price Earnings Ratio | 10.19 | 15.81 | |
| Price Earnings To Growth Ratio | (0.29) | (0.28) |
Pair Trading with Cenovus Energy
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Cenovus Energy position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Cenovus Energy will appreciate offsetting losses from the drop in the long position's value.Moving against Cenovus Stock
| 0.52 | FFH | Fairfax Financial | PairCorr |
| 0.48 | ENS | E Split Corp | PairCorr |
| 0.44 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.43 | FFH-PC | Fairfax Fin Hld | PairCorr |
| 0.41 | ENS-PA | E Split Corp | PairCorr |
The ability to find closely correlated positions to Cenovus Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cenovus Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Cenovus Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Cenovus Energy to buy it.
The correlation of Cenovus Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cenovus Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cenovus Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Cenovus Energy can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cenovus Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. To learn how to invest in Cenovus Stock, please use our How to Invest in Cenovus Energy guide.You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.