Cenovus Stock Market Value

CVE
 Stock
  

USD 20.11  0.15  0.74%   

Cenovus Energy's market value is the price at which a share of Cenovus Energy stock trades on a public exchange. It measures the collective expectations of Cenovus Energy investors about the entity's future performance. With this module, you can estimate the performance of a buy and hold strategy of Cenovus Energy and determine expected loss or profit from investing in Cenovus Energy over a given investment horizon. Continue to Cenovus Energy Correlation, Cenovus Energy Volatility and Cenovus Energy Alpha and Beta module to complement your research on Cenovus Energy.
Symbol


Is Cenovus Energy's industry 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 YOY
2.02
Market Capitalization
39 B
Quarterly Revenue Growth YOY
0.38
Return On Assets
0.11
Return On Equity
0.2
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 Cenovus Energy value 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.
0.00
12/07/2020
No Change 0.00  0.0 
In 1 year 11 months and 21 days
11/27/2022
0.00
If you would invest  0.00  in Cenovus Energy on December 7, 2020 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 720 days. Cenovus Energy is related to or competes with Chevron Corp, PETROBRAS, and Exxon. 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.

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.
Sophisticated investors, who have witnessed many market ups and downs, frequently view 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. Please use the tools below to analyze the current value of Cenovus Energy in the context of predictive analytics.
Hype
Prediction
LowEstimated ValueHigh
16.7620.0923.42
Details
Intrinsic
Valuation
LowReal ValueHigh
13.2316.5622.12
Details
7 Analysts
Consensus
LowTarget PriceHigh
15.2017.1019.50
Details
Earnings
Estimates (2)
LowProjected EPSHigh
0.740.800.86
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Cenovus Energy. Your research has to be compared to or analyzed against Cenovus Energy's peers to derive any actionable benefits. When done correctly, Cenovus Energy's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy towards taking a position in Cenovus Energy.

Cenovus Energy Backtested Returns

We consider Cenovus Energy somewhat reliable. Cenovus Energy secures Sharpe Ratio (or Efficiency) of 0.0262, which signifies that the company had 0.0262% of return per unit of risk over the last 3 months. Our standpoint towards foreseeing the volatility of a stock is to use all available market data together with stock-specific technical indicators that cannot be diversified away. We have found twenty-seven technical indicators for Cenovus Energy, which you can use to evaluate the future volatility of the firm. Please confirm Cenovus Energy Risk Adjusted Performance of 0.0549, downside deviation of 3.59, and Mean Deviation of 2.66 to double-check if the risk estimate we provide is consistent with the expected return of 0.0872%.
Cenovus Energy has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.2291, which signifies a somewhat significant risk relative to the market. Let's try to break down what Cenovus's beta means in this case. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Cenovus Energy will likely underperform. Although it is important to respect Cenovus Energy historical returns, it is better to be realistic regarding the information on the equity's current trending patterns. The philosophy towards foreseeing future performance of any stock is to evaluate the business as a whole together with its past performance, including all available fundamental and technical indicators. By analyzing Cenovus Energy technical indicators, you can presently evaluate if the expected return of 0.0872% will be sustainable into the future. Cenovus Energy right now shows a risk of 3.33%. Please confirm Cenovus Energy potential upside, and the relationship between the sortino ratio and skewness to decide if Cenovus Energy will be following its price patterns.

Auto-correlation

    
  0.68  

Good predictability

Cenovus Energy has good predictability. Overlapping area represents the amount of predictability between Cenovus Energy time series from 7th of December 2020 to 2nd of December 2021 and 2nd of December 2021 to 27th of November 2022. 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 0.68 indicates that around 68.0% of current Cenovus Energy price fluctuation can be explain by its past prices.
Correlation Coefficient0.68
Spearman Rank Test0.64
Residual Average0.0
Price Variance8.25

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 stock 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 stock movement to match the lagging time series.
   Current and Lagged Values   
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       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   
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       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   
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       Timeline  

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cenovus Energy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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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 Energy

+0.92CVXChevron Corp TrendingPairCorr
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 equities. 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.
Pair CorrelationCorrelation Matching
Continue to Cenovus Energy Correlation, Cenovus Energy Volatility and Cenovus Energy Alpha and Beta module to complement your research on Cenovus Energy. You can also try Price Transformation module to use Price Transformation models to analyze depth of different equity instruments across global markets.

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When running Cenovus Energy price analysis, check to measure Cenovus Energy'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 Cenovus Energy is operating at the current time. Most of Cenovus Energy's value examination focuses on studying past and present price action to predict the probability of Cenovus Energy's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Cenovus Energy's price. Additionally, you may evaluate how the addition of Cenovus Energy to your portfolios can decrease your overall portfolio volatility.
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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.
A focus of Cenovus Energy technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Cenovus Energy trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...