Ovintiv Stock Market Value
| OVV Stock | USD 46.71 0.12 0.26% |
| Symbol | Ovintiv |
Ovintiv Price To Book Ratio
Is Oil & Gas Exploration & Production 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 Ovintiv. If investors know Ovintiv 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 Ovintiv 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 0.306 | Dividend Share 1.2 | Earnings Share 7.58 | Revenue Per Share 35.739 | Quarterly Revenue Growth (0.25) |
The market value of Ovintiv is measured differently than its book value, which is the value of Ovintiv that is recorded on the company's balance sheet. Investors also form their own opinion of Ovintiv's value that differs from its market value or its book value, called intrinsic value, which is Ovintiv'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 Ovintiv's market value can be influenced by many factors that don't directly affect Ovintiv'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 Ovintiv's value and its price as these two are different measures arrived at by different means. Investors typically determine if Ovintiv is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ovintiv'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.
Ovintiv '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 Ovintiv'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 Ovintiv.
| 02/29/2024 |
| 11/25/2024 |
If you would invest 0.00 in Ovintiv on February 29, 2024 and sell it all today you would earn a total of 0.00 from holding Ovintiv or generate 0.0% return on investment in Ovintiv over 270 days. Ovintiv is related to or competes with Baytex Energy, Obsidian Energy, Canadian Natural, Vermilion Energy, Vital Energy, SandRidge Energy, and Permian Resources. Ovintiv Inc., together with its subsidiaries, engages in the exploration, development, production, and marketing of natu... More
Ovintiv 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 Ovintiv'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 Ovintiv upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.35 | |||
| Information Ratio | 0.0201 | |||
| Maximum Drawdown | 9.07 | |||
| Value At Risk | (3.79) | |||
| Potential Upside | 4.1 |
Ovintiv Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ovintiv's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ovintiv's standard deviation. In reality, there are many statistical measures that can use Ovintiv historical prices to predict the future Ovintiv's volatility.| Risk Adjusted Performance | 0.0663 | |||
| Jensen Alpha | 0.0629 | |||
| Total Risk Alpha | (0.19) | |||
| Sortino Ratio | 0.0193 | |||
| Treynor Ratio | 0.1943 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Ovintiv'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.
Ovintiv Backtested Returns
At this stage we consider Ovintiv Stock to be very steady. Ovintiv maintains Sharpe Ratio (i.e., Efficiency) of 0.0695, which implies the firm had a 0.0695% return per unit of risk over the last 3 months. We have found thirty technical indicators for Ovintiv, which you can use to evaluate the volatility of the company. Please check Ovintiv's Risk Adjusted Performance of 0.0663, semi deviation of 2.04, and Coefficient Of Variation of 1284.9 to confirm if the risk estimate we provide is consistent with the expected return of 0.16%. Ovintiv has a performance score of 5 on a scale of 0 to 100. The company holds a Beta of 0.86, which implies possible diversification benefits within a given portfolio. Ovintiv returns are very sensitive to returns on the market. As the market goes up or down, Ovintiv is expected to follow. Ovintiv right now holds a risk of 2.28%. Please check Ovintiv treynor ratio, as well as the relationship between the expected short fall and day median price , to decide if Ovintiv will be following its historical price patterns.
Auto-correlation | -0.02 |
Very weak reverse predictability
Ovintiv has very weak reverse predictability. Overlapping area represents the amount of predictability between Ovintiv time series from 29th of February 2024 to 13th of July 2024 and 13th of July 2024 to 25th 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 Ovintiv price movement. The serial correlation of -0.02 indicates that only 2.0% of current Ovintiv price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 6.66 |
Ovintiv lagged returns against current returns
Autocorrelation, which is Ovintiv 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 Ovintiv's stock expected returns. We can calculate the autocorrelation of Ovintiv returns to help us make a trade decision. For example, suppose you find that Ovintiv 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 |
Ovintiv 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 Ovintiv stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ovintiv stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ovintiv stock over time.
Current vs Lagged Prices |
| Timeline |
Ovintiv Lagged Returns
When evaluating Ovintiv's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ovintiv stock have on its future price. Ovintiv 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, Ovintiv autocorrelation shows the relationship between Ovintiv stock current value and its past values and can show if there is a momentum factor associated with investing in Ovintiv.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Ovintiv Stock Analysis
When running Ovintiv's price analysis, check to measure Ovintiv's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Ovintiv is operating at the current time. Most of Ovintiv's value examination focuses on studying past and present price action to predict the probability of Ovintiv's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ovintiv's price. Additionally, you may evaluate how the addition of Ovintiv to your portfolios can decrease your overall portfolio volatility.