CNQ vs. CVE
Compare and contrast key facts about Canadian Natural Resources Limited (CNQ) and Cenovus Energy Inc. (CVE).
Performance
CNQ vs. CVE - Performance Comparison
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CNQ vs. CVE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNQ Canadian Natural Resources Limited | 38.80% | 15.58% | -1.31% | 23.72% | 42.82% | 83.55% | -19.06% | 39.72% | -29.92% | 15.97% |
CVE Cenovus Energy Inc. | 53.56% | 15.84% | -5.83% | -12.30% | 60.93% | 104.72% | -39.59% | 46.98% | -21.51% | -38.38% |
Fundamentals
CNQ:
$97.27B
CVE:
$48.13B
CNQ:
$5.19
CVE:
$2.15
CNQ:
8.98
CVE:
12.02
CNQ:
0.43
CVE:
0.05
CNQ:
2.34
CVE:
0.92
CNQ:
2.19
CVE:
1.53
CNQ:
$41.50B
CVE:
$51.21B
CNQ:
$12.51B
CVE:
$10.08B
CNQ:
$18.36B
CVE:
$10.22B
Returns By Period
In the year-to-date period, CNQ achieves a 38.80% return, which is significantly lower than CVE's 53.56% return. Over the past 10 years, CNQ has outperformed CVE with an annualized return of 19.72%, while CVE has yielded a comparatively lower 9.54% annualized return.
CNQ
- 1D
- -4.45%
- 1M
- 5.94%
- YTD
- 38.80%
- 6M
- 49.86%
- 1Y
- 56.02%
- 3Y*
- 24.72%
- 5Y*
- 31.04%
- 10Y*
- 19.72%
CVE
- 1D
- -2.68%
- 1M
- 13.56%
- YTD
- 53.56%
- 6M
- 56.38%
- 1Y
- 90.65%
- 3Y*
- 17.59%
- 5Y*
- 29.97%
- 10Y*
- 9.54%
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Return for Risk
CNQ vs. CVE — Risk / Return Rank
CNQ
CVE
CNQ vs. CVE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ) and Cenovus Energy Inc. (CVE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CNQ | CVE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.79 | 2.25 | -0.47 |
Sortino ratioReturn per unit of downside risk | 2.36 | 2.76 | -0.40 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.37 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.93 | 3.73 | -0.80 |
Martin ratioReturn relative to average drawdown | 9.33 | 14.03 | -4.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNQ | CVE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 2.25 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.95 | 0.74 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.19 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.06 | +0.35 |
Correlation
The correlation between CNQ and CVE is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CNQ vs. CVE - Dividend Comparison
CNQ's dividend yield for the trailing twelve months is around 3.74%, more than CVE's 2.26% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ Canadian Natural Resources Limited | 3.74% | 5.01% | 5.02% | 4.17% | 6.31% | 3.78% | 5.26% | 3.49% | 4.56% | 3.08% | 2.94% | 4.21% |
CVE Cenovus Energy Inc. | 2.26% | 3.32% | 3.92% | 2.33% | 1.81% | 0.56% | 0.75% | 1.58% | 2.34% | 2.19% | 1.32% | 6.75% |
Drawdowns
CNQ vs. CVE - Drawdown Comparison
The maximum CNQ drawdown since its inception was -80.75%, smaller than the maximum CVE drawdown of -94.87%. Use the drawdown chart below to compare losses from any high point for CNQ and CVE.
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Drawdown Indicators
| CNQ | CVE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.75% | -94.87% | +14.12% |
Max Drawdown (1Y)Largest decline over 1 year | -20.04% | -24.64% | +4.60% |
Max Drawdown (5Y)Largest decline over 5 years | -35.85% | -53.51% | +17.66% |
Max Drawdown (10Y)Largest decline over 10 years | -77.84% | -89.35% | +11.51% |
Current DrawdownCurrent decline from peak | -7.06% | -6.21% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -23.64% | -44.59% | +20.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.29% | 6.55% | -0.26% |
Volatility
CNQ vs. CVE - Volatility Comparison
Canadian Natural Resources Limited (CNQ) and Cenovus Energy Inc. (CVE) have volatilities of 9.19% and 8.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNQ | CVE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.19% | 8.90% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 24.15% | -3.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.56% | 40.47% | -8.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.70% | 40.52% | -7.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.24% | 50.62% | -10.38% |
Financials
CNQ vs. CVE - Financials Comparison
This section allows you to compare key financial metrics between Canadian Natural Resources Limited and Cenovus Energy Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CNQ vs. CVE - Profitability Comparison
CNQ - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Canadian Natural Resources Limited reported a gross profit of 2.04B and revenue of 9.60B. Therefore, the gross margin over that period was 21.2%.
CVE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Cenovus Energy Inc. reported a gross profit of 1.32B and revenue of 10.87B. Therefore, the gross margin over that period was 12.1%.
CNQ - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Canadian Natural Resources Limited reported an operating income of 1.79B and revenue of 9.60B, resulting in an operating margin of 18.7%.
CVE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Cenovus Energy Inc. reported an operating income of 1.08B and revenue of 10.87B, resulting in an operating margin of 9.9%.
CNQ - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Canadian Natural Resources Limited reported a net income of 5.30B and revenue of 9.60B, resulting in a net margin of 55.2%.
CVE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Cenovus Energy Inc. reported a net income of 933.24M and revenue of 10.87B, resulting in a net margin of 8.6%.