Cenovus Income Quality from 2010 to 2026
| CVE Stock | CAD 31.68 1.23 4.04% |
Income Quality | First Reported 2010-12-31 | Previous Quarter 3.38 | Current Value 2.87 | Quarterly Volatility 2.64048831 |
Check Cenovus Energy financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Cenovus Energy's main balance sheet or income statement drivers, such as Depreciation And Amortization of 6.2 B, Interest Expense of 507.5 M or Selling General Administrative of 468.9 M, as well as many indicators such as Price To Sales Ratio of 1.2, Dividend Yield of 0.0244 or PTB Ratio of 1.78. Cenovus financial statements analysis is a perfect complement when working with Cenovus Energy Valuation or Volatility modules.
Cenovus | Income Quality |
Evaluating Cenovus Energy's Income Quality across multiple reporting periods reveals the company's ability to sustain growth and manage resources effectively. This longitudinal analysis highlights inflection points, cyclical patterns, and structural changes that short-term snapshots might miss, offering deeper insight into Cenovus Energy's fundamental strength.
Latest Cenovus Energy's Income Quality Growth Pattern
Below is the plot of the Income Quality of Cenovus Energy over the last few years. It is an assessment of the sustainability of a company's earnings over time, considering factors like revenue source diversification and cost structure. Cenovus Energy's Income Quality historical data analysis aims to capture in quantitative terms the overall pattern of either growth or decline in Cenovus Energy's overall financial position and show how it may be relating to other accounts over time.
| Income Quality | 10 Years Trend |
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Income Quality |
| Timeline |
Cenovus Income Quality Regression Statistics
| Arithmetic Mean | 2.51 | |
| Coefficient Of Variation | 105.25 | |
| Mean Deviation | 1.79 | |
| Median | 2.21 | |
| Standard Deviation | 2.64 | |
| Sample Variance | 6.97 | |
| Range | 11.6633 | |
| R-Value | 0.07 | |
| Mean Square Error | 7.40 | |
| R-Squared | 0.01 | |
| Significance | 0.78 | |
| Slope | 0.04 | |
| Total Sum of Squares | 111.55 |
Cenovus Income Quality History
About Cenovus Energy Financial Statements
Cenovus Energy investors utilize fundamental indicators, such as Income Quality, to predict how Cenovus Stock might perform in the future. Analyzing these trends over time helps investors make informed market timing decisions. For further insights, please visit our fundamental analysis page.
| Last Reported | Projected for Next Year | ||
| Income Quality | 3.38 | 2.87 |
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 together with Cenovus Stock
Moving against Cenovus Stock
| 0.5 | SAGE | Sage Potash Corp Earnings Call This Week | PairCorr |
| 0.45 | ENS-PA | E Split Corp | PairCorr |
| 0.36 | TD-PFI | Toronto Dominion Bank Earnings Call This Week | 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 the analysis of Cenovus Energy Correlation against competitors. To learn how to invest in Cenovus Stock, please use our How to Invest in Cenovus Energy guide.You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.