Cenovus Common Stock Shares Outstanding from 2010 to 2024
| CVE Stock | CAD 28.17 0.18 0.64% |
Common Stock Shares Outstanding | First Reported 2009-03-31 | Previous Quarter 1.9 B | Current Value 1.9 B | Quarterly Volatility 470.2 M |
Check Cenovus Energy financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Cenovus main balance sheet or income statement drivers, such as Depreciation And Amortization of 5.3 B, Interest Expense of 574.7 M or Selling General Administrative of 443.6 M, as well as many exotic indicators such as Price To Sales Ratio of 1.2, Dividend Yield of 0.0233 or PTB Ratio of 1.8. Cenovus financial statements analysis is a perfect complement when working with Cenovus Energy Valuation or Volatility modules.
Cenovus | Common Stock Shares Outstanding |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Cenovus Energy in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Cenovus Energy's short interest history, or implied volatility extrapolated from Cenovus Energy options trading.
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
| 0.94 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.75 | ENB-PFU | Enbridge Pref L | PairCorr |
Moving against Cenovus Stock
| 0.94 | ECN | ECN Capital Corp | 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.Note that the Cenovus Energy information on this page should be used as a complementary analysis to other Cenovus Energy's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. 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.
Complementary Tools for Cenovus Stock analysis
When running Cenovus Energy's 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 the 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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