Cenovus Energy Stock Probability of Future Stock Price Finishing Under 27.76
| CVE Stock | CAD 21.71 0.29 1.35% |
Cenovus |
Cenovus Energy Target Price Odds to finish below 27.76
The tendency of Cenovus Stock price to converge on an average value over time is a known aspect in finance that investors have used since the beginning of the stock market for forecasting. However, many studies suggest that some traded equity instruments are consistently mispriced before traders' demand and supply correct the spread. One possible conclusion to this anomaly is that these stocks have additional risk, for which investors demand compensation in the form of extra returns.
| Current Price | Horizon | Target Price | Odds to stay under C$ 27.76 after 90 days |
| 21.71 | 90 days | 27.76 | close to 99 |
Based on a normal probability distribution, the odds of Cenovus Energy to stay under C$ 27.76 after 90 days from now is close to 99 (This Cenovus Energy probability density function shows the probability of Cenovus Stock to fall within a particular range of prices over 90 days) . Probability of Cenovus Energy price to stay between its current price of C$ 21.71 and C$ 27.76 at the end of the 90-day period is about 88.54 .
Assuming the 90 days trading horizon Cenovus Energy has a beta of -0.0094 suggesting as returns on the benchmark increase, returns on holding Cenovus Energy are expected to decrease at a much lower rate. During a bear market, however, Cenovus Energy is likely to outperform the market. Additionally Cenovus Energy has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming the Dow Jones Industrial. Cenovus Energy Price Density |
| Price |
Predictive Modules for Cenovus Energy
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Cenovus Energy. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Cenovus Energy Risk Indicators
For the most part, the last 10-20 years have been a very volatile time for the stock market. Cenovus Energy is not an exception. The market had few large corrections towards the Cenovus Energy's value, including both sudden drops in prices as well as massive rallies. These swings have made and broken many portfolios. An investor can limit the violent swings in their portfolio by implementing a hedging strategy designed to limit downside losses. If you hold Cenovus Energy, one way to have your portfolio be protected is to always look up for changing volatility and market elasticity of Cenovus Energy within the framework of very fundamental risk indicators.α | Alpha over Dow Jones | -0.0077 | |
β | Beta against Dow Jones | -0.0094 | |
σ | Overall volatility | 0.84 | |
Ir | Information ratio | -0.07 |
Cenovus Energy Alerts and Suggestions
In today's market, stock alerts give investors the competitive edge they need to time the market and increase returns. Checking the ongoing alerts of Cenovus Energy for significant developments is a great way to find new opportunities for your next move. Suggestions and notifications for Cenovus Energy can help investors quickly react to important events or material changes in technical or fundamental conditions and significant headlines that can affect investment decisions.| Cenovus Energy generated a negative expected return over the last 90 days | |
| About 32.0% of the company shares are held by company insiders | |
| Latest headline from news.google.com: Ex-Dividend Reminder Cenovus Energy, Civitas Resources and Williams - Nasdaq |
Cenovus Energy Price Density Drivers
Market volatility will typically increase when nervous long traders begin to feel the short-sellers pressure to drive the market lower. The future price of Cenovus Stock often depends not only on the future outlook of the current and potential Cenovus Energy's investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. Cenovus Energy's indicators that are reflective of the short sentiment are summarized in the table below.
| Common Stock Shares Outstanding | 1.9 B | |
| Cash And Short Term Investments | 2.2 B |
Cenovus Energy Technical Analysis
Cenovus Energy's future price can be derived by breaking down and analyzing its technical indicators over time. Cenovus Stock technical analysis helps investors analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Cenovus Energy. In general, you should focus on analyzing Cenovus Stock price patterns and their correlations with different microeconomic environments and drivers.
Cenovus Energy Predictive Forecast Models
Cenovus Energy's time-series forecasting models is one of many Cenovus Energy's stock analysis techniques aimed to predict future share value based on previously observed values. Time-series forecasting models are widely used for non-stationary data. Non-stationary data are called the data whose statistical properties, e.g., the mean and standard deviation, are not constant over time, but instead, these metrics vary over time. This non-stationary Cenovus Energy's historical data is usually called time series. Some empirical experimentation suggests that the statistical forecasting models outperform the models based exclusively on fundamental analysis to predict the direction of the stock market movement and maximize returns from investment trading.
Things to note about Cenovus Energy
Checking the ongoing alerts about Cenovus Energy for important developments is a great way to find new opportunities for your next move. Our stock alerts and notifications screener for Cenovus Energy help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.
| Cenovus Energy generated a negative expected return over the last 90 days | |
| About 32.0% of the company shares are held by company insiders | |
| Latest headline from news.google.com: Ex-Dividend Reminder Cenovus Energy, Civitas Resources and Williams - Nasdaq |
Check out Cenovus Energy Backtesting, Cenovus Energy Valuation, Cenovus Energy Correlation, Cenovus Energy Hype Analysis, Cenovus Energy Volatility, Cenovus Energy History as well as Cenovus Energy Performance. To learn how to invest in Cenovus Stock, please use our How to Invest in Cenovus Energy guide.You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.