Cenovus Energy Stock Alpha and Beta Analysis

CVE Stock  USD 19.99  0.15  0.76%   
This module allows you to check different measures of market premium (i.e., alpha and beta) for all equities such as Cenovus Energy. It also helps investors analyze the systematic and unsystematic risks associated with investing in Cenovus Energy over a specified time horizon. Remember, high Cenovus Energy's alpha is almost always a sign of good performance; however, a high beta will depend on investors' risk tolerance level and may signal increased volatility and potential future overvaluation. Key technical indicators related to Cenovus Energy's market risk premium analysis include:
Beta
1.19
Alpha
0.13
Risk
1.71
Sharpe Ratio
0.18
Expected Return
0.31
Please note that although Cenovus Energy alpha is a measure of relative return and represented here as a single number, it indicates the percentage above or below your selected benchmark (i.e., NYSE Composite index.) So in this particular case, Cenovus Energy did 0.13  better than the index. Remember, a high alpha is always good. Beta, on the other hand, measures the volatility (or risk) of an investment. It is an indication of Cenovus Energy stock's relative risk over its benchmark. Cenovus Energy has a beta of 1.19  . As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Cenovus Energy will likely underperform. At present, Cenovus Energy's Price Fair Value is projected to slightly decrease based on the last few years of reporting.

Cenovus Energy Quarterly Cash And Equivalents

1.26 Billion

Alpha is a measure of relative performance on a risk-adjusted basis, while beta measures volatility against the benchmark. The goal is to know if an investor is being compensated for the volatility risk taken. The return on investment might be better than its reference but still not compensate for the assumption of the risk.
  
Check out Cenovus Energy Backtesting, Cenovus Energy Valuation, Cenovus Energy Correlation, Cenovus Energy Hype Analysis, Cenovus Energy Volatility, Cenovus Energy History and analyze Cenovus Energy Performance.
For information on how to trade Cenovus Stock refer to our How to Trade Cenovus Stock guide.

Cenovus Energy Market Premiums

Investors always prefer to have the highest possible return on investment, coupled with the lowest possible volatility. Cenovus Energy market risk premium is the additional return an investor will receive from holding Cenovus Energy long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Cenovus Energy. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Alpha and beta are two of the key measurements used to evaluate Cenovus Energy's performance over market.
α0.13   β1.19

Cenovus Energy expected buy-and-hold returns

Although buy-and-hold investment strategy may not appeal to all investors, it may be used as a good measure of Cenovus Energy's Buy-and-hold return. Our buy-and-hold chart shows how Cenovus Energy performed over your current time horizon against a typical interest-earning bank account and a selected benchmark.

Cenovus Energy Market Price Analysis

Market price analysis indicators help investors to evaluate how Cenovus Energy stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Cenovus Energy shares will generate the highest return on investment. By understating and applying Cenovus Energy stock market price indicators, traders can identify Cenovus Energy position entry and exit signals to maximize returns.

Cenovus Energy Return and Market Media

The median price of Cenovus Energy for the period between Fri, Dec 29, 2023 and Thu, Mar 28, 2024 is 16.64 with a coefficient of variation of 7.72. The daily time series for the period is distributed with a sample standard deviation of 1.31, arithmetic mean of 16.93, and mean deviation of 1.06. The Stock received a lot of media exposure during the period.
 Price Growth (%)  
       Timeline  
1
European Commercial REIT Trading Up 42.9
01/03/2024
2
New Strong Sell Stocks for January 23rd
01/23/2024
3
Cenovus Energy fourth-quarter profit misses estimates
02/15/2024
4
5 Top No-Load Mutual Funds to Enhance Your Returns
02/22/2024
5
Q4 2023 Cenovus Energy Inc Earnings Call Transcript
02/28/2024
6
Africa Oil Corp Senior Officer Oliver Quinn Purchases 40,000 Shares
03/01/2024
7
Cenovus Energy Maps Out an Ambitious 5-Year Expansion Plan
03/06/2024
8
Piper Sandler cuts ConocoPhillips stock target to 133, keeps overweight
03/14/2024
9
If You Invested 100 In This Stock 5 Years Ago, You Would Have 200 Today
03/18/2024
10
TECNOs Security Response Center Authorized by the CVE Program
03/19/2024
11
Cenovus Energy Earns Technical Rating Upgrade
03/25/2024
12
ShadowRay vulnerability on Ray framework exposes thousands of AI workloads, compute power and data
03/27/2024

About Cenovus Energy Beta and Alpha

For many years both, Alpha and Beta indicators are used by professional money managers as critical performance measurement tools across virtually all financial instruments including Cenovus or other stocks. Alpha measures the amount that position in Cenovus Energy has returned in comparison to a selected market index or another relevant benchmark. In other words, Alpha is the excess return on an investment relative to the performance of your selected benchmark. Beta, on the other hand, measures the relative risk of your investment.
 2021 2022 2023 (projected)
Dividend Yield0.0066550.01810.0246
Price To Sales Ratio0.650.710.8

Cenovus Energy Upcoming Company Events

As portrayed in its financial statements, the presentation of Cenovus Energy's financial position is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Cenovus Energy's leadership is honest, while the outside auditors are strict and uncompromising. Whatever the case, investors should always follow all of Cenovus Energy's public filing events to personally review all filings and be reasonable and skeptical to interpret all of the financial statements of Cenovus Energy. Please utilize our Beneish M Score to check the likelihood of Cenovus Energy's management manipulating its earnings.
15th of February 2024
Upcoming Quarterly Report
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24th of April 2024
Next Financial Report
View
31st of December 2023
Next Fiscal Quarter End
View
15th of February 2024
Next Fiscal Year End
View
30th of September 2023
Last Quarter Report
View
31st of December 2022
Last Financial Announcement
View

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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:

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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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...