CVE vs. CNQ
Compare and contrast key facts about Cenovus Energy Inc. (CVE) and Canadian Natural Resources Limited (CNQ).
Performance
CVE vs. CNQ - Performance Comparison
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CVE vs. CNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVE Cenovus Energy Inc. | 53.56% | 15.84% | -5.83% | -12.30% | 60.93% | 104.72% | -39.59% | 46.98% | -21.51% | -38.38% |
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% |
Fundamentals
CVE:
$48.13B
CNQ:
$97.27B
CVE:
$2.15
CNQ:
$5.19
CVE:
12.02
CNQ:
8.98
CVE:
0.05
CNQ:
0.43
CVE:
0.92
CNQ:
2.34
CVE:
1.53
CNQ:
2.19
CVE:
$51.21B
CNQ:
$41.50B
CVE:
$10.08B
CNQ:
$12.51B
CVE:
$10.22B
CNQ:
$18.36B
Returns By Period
In the year-to-date period, CVE achieves a 53.56% return, which is significantly higher than CNQ's 38.80% return. Over the past 10 years, CVE has underperformed CNQ with an annualized return of 9.54%, while CNQ has yielded a comparatively higher 19.72% annualized return.
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%
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%
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Return for Risk
CVE vs. CNQ — Risk / Return Rank
CVE
CNQ
CVE vs. CNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cenovus Energy Inc. (CVE) and Canadian Natural Resources Limited (CNQ). 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.
| CVE | CNQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.25 | 1.79 | +0.47 |
Sortino ratioReturn per unit of downside risk | 2.76 | 2.36 | +0.40 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.31 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 3.73 | 2.93 | +0.80 |
Martin ratioReturn relative to average drawdown | 14.03 | 9.33 | +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
| CVE | CNQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.25 | 1.79 | +0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.95 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.49 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.41 | -0.35 |
Correlation
The correlation between CVE and CNQ 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
CVE vs. CNQ - Dividend Comparison
CVE's dividend yield for the trailing twelve months is around 2.26%, less than CNQ's 3.74% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Drawdowns
CVE vs. CNQ - Drawdown Comparison
The maximum CVE drawdown since its inception was -94.87%, which is greater than CNQ's maximum drawdown of -80.75%. Use the drawdown chart below to compare losses from any high point for CVE and CNQ.
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Drawdown Indicators
| CVE | CNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.87% | -80.75% | -14.12% |
Max Drawdown (1Y)Largest decline over 1 year | -24.64% | -20.04% | -4.60% |
Max Drawdown (5Y)Largest decline over 5 years | -53.51% | -35.85% | -17.66% |
Max Drawdown (10Y)Largest decline over 10 years | -89.35% | -77.84% | -11.51% |
Current DrawdownCurrent decline from peak | -6.21% | -7.06% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -44.59% | -23.64% | -20.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 6.29% | +0.26% |
Volatility
CVE vs. CNQ - Volatility Comparison
Cenovus Energy Inc. (CVE) and Canadian Natural Resources Limited (CNQ) have volatilities of 8.90% and 9.19%, 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
| CVE | CNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.90% | 9.19% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 24.15% | 20.23% | +3.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.47% | 31.56% | +8.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.52% | 32.70% | +7.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.62% | 40.24% | +10.38% |
Financials
CVE vs. CNQ - Financials Comparison
This section allows you to compare key financial metrics between Cenovus Energy Inc. and Canadian Natural Resources Limited. 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
CVE vs. CNQ - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.