Cenovus Energy Stock Market Value
| CVE Stock | USD 15.84 0.35 2.16% |
| Symbol | Cenovus |
Cenovus Energy Price To Book Ratio
Is Oil, Gas & Consumable Fuels space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Cenovus Energy. If investors know Cenovus will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Cenovus Energy listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.57) | Dividend Share 0.775 | Earnings Share 1.39 | Revenue Per Share 29.87 | Quarterly Revenue Growth (0.02) |
The market value of Cenovus Energy is measured differently than its book value, which is the value of Cenovus that is recorded on the company's balance sheet. Investors also form their own opinion of Cenovus Energy's value that differs from its market value or its book value, called intrinsic value, which is Cenovus Energy's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Cenovus Energy's market value can be influenced by many factors that don't directly affect Cenovus Energy's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Cenovus Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Cenovus Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cenovus Energy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Cenovus Energy 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Cenovus Energy's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Cenovus Energy.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Cenovus Energy on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Cenovus Energy or generate 0.0% return on investment in Cenovus Energy over 30 days. Cenovus Energy is related to or competes with Imperial Oil, Exxon, Chevron Corp, BP PLC, Suncor Energy, Eni SPA, and TotalEnergies. Cenovus Energy Inc., together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and... More
Cenovus Energy Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Cenovus Energy's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Cenovus Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 7.99 | |||
| Value At Risk | (3.60) | |||
| Potential Upside | 2.57 |
Cenovus Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cenovus Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cenovus Energy's standard deviation. In reality, there are many statistical measures that can use Cenovus Energy historical prices to predict the future Cenovus Energy's volatility.| Risk Adjusted Performance | (0.1) | |||
| Jensen Alpha | (0.30) | |||
| Total Risk Alpha | (0.54) | |||
| Treynor Ratio | (0.76) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Cenovus Energy's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Cenovus Energy Backtested Returns
Cenovus Energy secures Sharpe Ratio (or Efficiency) of -0.13, which signifies that the company had a -0.13% return per unit of risk over the last 3 months. Cenovus Energy exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cenovus Energy's Standard Deviation of 1.82, mean deviation of 1.44, and Risk Adjusted Performance of (0.1) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.34, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cenovus Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cenovus Energy is expected to be smaller as well. At this point, Cenovus Energy has a negative expected return of -0.23%. Please make sure to confirm Cenovus Energy's value at risk, as well as the relationship between the accumulation distribution and day typical price , to decide if Cenovus Energy performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.04 |
Virtually no predictability
Cenovus Energy has virtually no predictability. Overlapping area represents the amount of predictability between Cenovus Energy time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Cenovus Energy price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current Cenovus Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | -0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Cenovus Energy lagged returns against current returns
Autocorrelation, which is Cenovus Energy stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Cenovus Energy's stock expected returns. We can calculate the autocorrelation of Cenovus Energy returns to help us make a trade decision. For example, suppose you find that Cenovus Energy has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Cenovus Energy regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Cenovus Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cenovus Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cenovus Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Cenovus Energy Lagged Returns
When evaluating Cenovus Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cenovus Energy stock have on its future price. Cenovus Energy autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Cenovus Energy autocorrelation shows the relationship between Cenovus Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Cenovus Energy.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether Cenovus Energy is a strong investment it is important to analyze Cenovus Energy's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Cenovus Energy's future performance. For an informed investment choice regarding Cenovus Stock, refer to the following important reports:Check out Cenovus Energy Correlation, Cenovus Energy Volatility and Cenovus Energy Alpha and Beta module to complement your research on Cenovus Energy. For information on how to trade Cenovus Stock refer to our How to Trade Cenovus Stock guide.You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Cenovus Energy technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.