Cenovus Energy Correlations

Stocks USA . 
Stock . Cenovus Energy
CVE Stock  USD 17.16  0.43  2.57%   
The current 90-days correlation between Cenovus Energy and Petrleo Brasileiro SA is 0.55 (i.e., Very weak diversification). 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Cenovus Energy Correlation With Market

Very weak diversification

The correlation between Cenovus Energy and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cenovus Energy and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cenovus Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.
For information on how to trade Cenovus Stock refer to our How to Trade Cenovus Stock guide.

Moving together with Cenovus Stock

  0.91BP BP PLC ADRPairCorr
  0.94EC Ecopetrol SA ADRPairCorr
  0.82VIVK VivakorPairCorr
  0.69EQNR Equinor ASA ADRPairCorr
  0.81CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.68CGBSW Crown LNG HoldingsPairCorr
  0.91SHEL Shell PLC ADRPairCorr
  0.74DINO HF Sinclair CorpPairCorr
  0.69AR Antero Resources CorpPairCorr
  0.82DK Delek EnergyPairCorr
  0.85HP Helmerich and Payne Fiscal Year End 13th of November 2024 PairCorr
  0.83NE Noble plcPairCorr
  0.76NR Newpark ResourcesPairCorr
  0.9PR Permian ResourcesPairCorr
  0.85SD SandRidge EnergyPairCorr
  0.88SM SM EnergyPairCorr
  0.61DLNG Dynagas LNG PartnersPairCorr
  0.71DMLP Dorchester MineralsPairCorr
  0.64DNOW Now IncPairCorr

Moving against Cenovus Stock

  0.69NFG National Fuel Gas Fiscal Year End 6th of November 2024 PairCorr
  0.63TGS Transportadora de GasPairCorr
  0.6YPF YPF Sociedad AnonimaPairCorr
  0.46IMPPP Imperial PetroleumPairCorr
  0.44VNOM Viper Energy UtPairCorr
  0.42ENLC EnLink Midstream LLCPairCorr

Related Correlations Analysis

Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY