Cenovus Inventory Turnover from 2010 to 2026
| CVE Stock | CAD 22.89 1.16 4.82% |
Inventory Turnover | First Reported 2010-12-31 | Previous Quarter 12.44 | Current Value 14.54 | Quarterly Volatility 3.76069087 |
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 | Inventory Turnover |
Latest Cenovus Energy's Inventory Turnover Growth Pattern
Below is the plot of the Inventory Turnover of Cenovus Energy over the last few years. It is a ratio showing how many times a company's inventory is sold and replaced over a period, indicating the efficiency of inventory management. Cenovus Energy's Inventory Turnover 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.
| Inventory Turnover | 10 Years Trend |
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Inventory Turnover |
| Timeline |
Cenovus Inventory Turnover Regression Statistics
| Arithmetic Mean | 13.41 | |
| Geometric Mean | 12.99 | |
| Coefficient Of Variation | 28.04 | |
| Mean Deviation | 2.70 | |
| Median | 12.44 | |
| Standard Deviation | 3.76 | |
| Sample Variance | 14.14 | |
| Range | 14.2296 | |
| R-Value | (0.25) | |
| Mean Square Error | 14.13 | |
| R-Squared | 0.06 | |
| Significance | 0.33 | |
| Slope | (0.19) | |
| Total Sum of Squares | 226.28 |
Cenovus Inventory Turnover History
About Cenovus Energy Financial Statements
Cenovus Energy investors utilize fundamental indicators, such as Inventory Turnover, 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 | ||
| Inventory Turnover | 12.44 | 14.54 |
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
| 0.75 | GRT-UN | Granite Real Estate | PairCorr |
| 0.45 | GMG | Graphene Manufacturing | PairCorr |
| 0.37 | VRY | Petro Victory Energy | PairCorr |
| 0.33 | ENB-PFU | Enbridge Pref L | 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.