CVE vs. GOOG
CVE (Cenovus Energy Inc.) and GOOG (Alphabet Inc) are both stocks. CVE operates in Oil & Gas Integrated (Energy), while GOOG operates in Internet Content & Information (Communication Services). Over the past 10 years, CVE returned 9.03%/yr vs 25.97%/yr for GOOG. At a 0.21 correlation, their price movements are largely independent.
Performance
CVE vs. GOOG - Performance Comparison
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Returns By Period
In the year-to-date period, CVE achieves a 68.13% return, which is significantly higher than GOOG's 14.29% return. Over the past 10 years, CVE has underperformed GOOG with an annualized return of 9.03%, while GOOG has yielded a comparatively higher 25.97% annualized return.
CVE
- 1D
- -0.74%
- 1M
- -8.27%
- YTD
- 68.13%
- 6M
- 59.06%
- 1Y
- 95.05%
- 3Y*
- 22.38%
- 5Y*
- 26.16%
- 10Y*
- 9.03%
GOOG
- 1D
- 0.45%
- 1M
- -8.88%
- YTD
- 14.29%
- 6M
- 15.49%
- 1Y
- 104.22%
- 3Y*
- 42.67%
- 5Y*
- 23.51%
- 10Y*
- 25.97%
CVE vs. GOOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVE Cenovus Energy Inc. | 68.13% | 15.84% | -5.83% | -12.30% | 60.93% | 104.72% | -39.59% | 46.98% | -21.51% | -38.38% |
GOOG Alphabet Inc | 14.29% | 65.42% | 35.62% | 58.83% | -38.67% | 65.17% | 31.03% | 29.10% | -1.03% | 35.58% |
Correlation
The correlation between CVE and GOOG is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2014 | 0.21 |
The correlation between CVE and GOOG shifts across timeframes, from -0.11 (1 year) to 0.21 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
CVE:
$53.12B
GOOG:
$4.38T
CVE:
CA$2.52
GOOG:
$13.11
CVE:
15.67
GOOG:
27.31
CVE:
0.06
GOOG:
1.34
CVE:
1.47
GOOG:
10.35
CVE:
2.28
GOOG:
9.16
CVE:
CA$49.40B
GOOG:
$422.57B
CVE:
CA$9.68B
GOOG:
$255.12B
CVE:
CA$11.54B
GOOG:
$174.08B
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Return for Risk
CVE vs. GOOG — Risk / Return Rank
CVE
GOOG
CVE vs. GOOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cenovus Energy Inc. (CVE) and Alphabet Inc (GOOG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CVE | GOOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.59 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 7.52 | 4.99 | +2.53 |
| Martin ratioReturn relative to average drawdown | 21.09 | 17.56 | +3.53 |
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Drawdowns
CVE vs. GOOG - Drawdown Comparison
The maximum CVE drawdown since its inception was -94.87%, which is greater than GOOG's maximum drawdown of -44.60%. Use the drawdown chart below to compare losses from any high point for CVE and GOOG.
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Drawdown Indicators
| CVE | GOOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.87% | -44.60% | -50.27% |
Max Drawdown (1Y)Largest decline over 1 year | -13.72% | -20.75% | +7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -49.57% | -29.35% | -20.22% |
Max Drawdown (5Y)Largest decline over 5 years | -53.51% | -44.60% | -8.91% |
Max Drawdown (10Y)Largest decline over 10 years | -89.22% | -44.60% | -44.62% |
Current DrawdownCurrent decline from peak | -11.10% | -10.19% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -44.12% | -8.89% | -35.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.88% | 5.88% | -1.00% |
Volatility
CVE vs. GOOG - Volatility Comparison
Cenovus Energy Inc. (CVE) has a higher volatility of 11.65% compared to Alphabet Inc (GOOG) at 7.29%. This indicates that CVE's price experiences larger fluctuations and is considered to be riskier than GOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVE | GOOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.65% | 7.29% | +4.36% |
Volatility (6M)Calculated over the trailing 6-month period | 27.07% | 20.47% | +6.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.64% | 28.75% | +5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.22% | 31.15% | +9.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.58% | 29.02% | +21.56% |
Dividends
CVE vs. GOOG - Dividend Comparison
CVE's dividend yield for the trailing twelve months is around 2.07%, more than GOOG's 0.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVE Cenovus Energy Inc. | 1.55% | 3.32% | 3.92% | 2.33% | 1.81% | 0.56% | 0.75% | 1.58% | 2.34% | 2.19% | 1.32% | 6.75% |
GOOG Alphabet Inc | 0.24% | 0.26% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
CVE vs. GOOG - Financials Comparison
This section allows you to compare key financial metrics between Cenovus Energy Inc. and Alphabet 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
CVE vs. GOOG - Profitability Comparison
CVE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cenovus Energy Inc. reported a gross profit of 2.71B and revenue of 12.39B. Therefore, the gross margin over that period was 21.9%.
GOOG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Alphabet Inc reported a gross profit of 68.63B and revenue of 109.90B. Therefore, the gross margin over that period was 62.5%.
CVE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cenovus Energy Inc. reported an operating income of 2.30B and revenue of 12.39B, resulting in an operating margin of 18.6%.
GOOG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Alphabet Inc reported an operating income of 39.70B and revenue of 109.90B, resulting in an operating margin of 36.1%.
CVE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cenovus Energy Inc. reported a net income of 1.57B and revenue of 12.39B, resulting in a net margin of 12.7%.
GOOG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Alphabet Inc reported a net income of 62.58B and revenue of 109.90B, resulting in a net margin of 56.9%.
Frequently Asked Questions
CVE and GOOG have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVE has higher volatility (11.65%) compared to GOOG (7.29%). In terms of maximum drawdown, CVE dropped -94.87% vs GOOG's -44.60%.
GOOG currently has the higher Sharpe Ratio (3.60 vs 2.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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