OVV vs. CVE

Last updated Apr 1, 2026

Compare and contrast key facts about Ovintiv Inc. (OVV) and Cenovus Energy Inc. (CVE).

Performance

OVV vs. CVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ovintiv Inc. (OVV) and Cenovus Energy Inc. (CVE). The values are adjusted to include any dividend payments, if applicable.

OVV vs. CVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OVV Ovintiv Inc.	52.30%	-0.30%	-5.23%	-10.93%	53.29%	138.31%	-34.91%	-17.62%	-56.37%	14.20%
CVE Cenovus Energy Inc.	57.78%	15.84%	-5.83%	-12.30%	60.93%	104.72%	-39.59%	46.98%	-21.51%	-38.38%

Fundamentals

EPS OVV : $0.91 CVE : $2.15
PE Ratio OVV : 65.17 CVE : 12.35
PEG Ratio OVV : 3.03 CVE : 0.05
PS Ratio OVV : 1.73 CVE : 0.95
Total Revenue (TTM) OVV : $8.90B CVE : $51.21B
Gross Profit (TTM) OVV : $4.78B CVE : $10.08B
EBITDA (TTM) OVV : $2.88B CVE : $10.22B

Returns By Period

In the year-to-date period, OVV achieves a 52.30% return, which is significantly lower than CVE's 57.78% return. Over the past 10 years, OVV has underperformed CVE with an annualized return of 9.25%, while CVE has yielded a comparatively higher 9.84% annualized return.

OVV

• 1D: -2.13%
• 1M: 17.98%
• YTD: 52.30%
• 6M: 48.92%
• 1Y: 42.57%
• 3Y*: 21.40%
• 5Y*: 21.91%
• 10Y*: 9.25%

CVE

• 1D: -0.15%
• 1M: 19.66%
• YTD: 57.78%
• 6M: 58.41%
• 1Y: 97.16%
• 3Y*: 18.66%
• 5Y*: 30.68%
• 10Y*: 9.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

OVV vs. CVE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OVV

OVV Risk / Return Rank: 71
OVV Sharpe Ratio Rank: 74
OVV Sortino Ratio Rank: 67
OVV Omega Ratio Rank: 69
OVV Calmar Ratio Rank: 72
OVV Martin Ratio Rank: 73

CVE

CVE Risk / Return Rank: 92
CVE Sharpe Ratio Rank: 94
CVE Sortino Ratio Rank: 91
CVE Omega Ratio Rank: 90
CVE Calmar Ratio Rank: 91
CVE Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OVV vs. CVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ovintiv Inc. (OVV) 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.

	OVV	CVE	Difference
Sharpe ratio Return per unit of total volatility	0.96	2.42	-1.46
Sortino ratio Return per unit of downside risk	1.42	2.90	-1.47
Omega ratio Gain probability vs. loss probability	1.20	1.39	-0.19
Calmar ratio Return relative to maximum drawdown	1.52	4.02	-2.50
Martin ratio Return relative to average drawdown	3.86	15.13	-11.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OVV vs. CVE - Sharpe Ratio Comparison

The current OVV Sharpe Ratio is 0.96, which is lower than the CVE Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of OVV and CVE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	OVV	CVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	2.42	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.76	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.20	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.07	+0.01

Correlation

The correlation between OVV and CVE is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

OVV vs. CVE - Dividend Comparison

OVV's dividend yield for the trailing twelve months is around 2.02%, less than CVE's 2.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OVV Ovintiv Inc.	2.02%	3.06%	2.96%	2.62%	1.87%	1.39%	2.61%	1.60%	1.04%	0.45%	0.51%	5.50%
CVE Cenovus Energy Inc.	2.20%	3.32%	3.92%	2.33%	1.81%	0.56%	0.75%	1.58%	2.34%	2.19%	1.32%	6.75%

Drawdowns

OVV vs. CVE - Drawdown Comparison

The maximum OVV drawdown since its inception was -98.88%, roughly equal to the maximum CVE drawdown of -94.87%. Use the drawdown chart below to compare losses from any high point for OVV and CVE.

Drawdown Indicators

	OVV	CVE	Difference
Max Drawdown Largest peak-to-trough decline	-98.88%	-94.87%	-4.01%
Max Drawdown (1Y) Largest decline over 1 year	-29.36%	-24.64%	-4.72%
Max Drawdown (5Y) Largest decline over 5 years	-47.13%	-53.51%	+6.38%
Max Drawdown (10Y) Largest decline over 10 years	-96.82%	-89.35%	-7.47%
Current Drawdown Current decline from peak	-64.04%	-3.63%	-60.41%
Average Drawdown Average peak-to-trough decline	-51.95%	-44.60%	-7.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.54%	6.54%	+5.00%

Volatility

OVV vs. CVE - Volatility Comparison

The current volatility for Ovintiv Inc. (OVV) is 7.97%, while Cenovus Energy Inc. (CVE) has a volatility of 8.73%. This indicates that OVV experiences smaller price fluctuations and is considered to be less risky than CVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OVV	CVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.97%	8.73%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	24.44%	24.03%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	44.74%	40.37%	+4.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.34%	40.55%	+5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.56%	50.62%	+9.94%

Financials

OVV vs. CVE - Profitability Comparison

The chart below illustrates the profitability comparison between Ovintiv Inc. and Cenovus Energy Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

OVV - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Ovintiv Inc. reported a gross profit of 998.00M and revenue of 2.02B. Therefore, the gross margin over that period was 49.4%.

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%.

OVV - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Ovintiv Inc. reported an operating income of 273.00M and revenue of 2.02B, resulting in an operating margin of 13.5%.

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%.

OVV - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Ovintiv Inc. reported a net income of 148.00M and revenue of 2.02B, resulting in a net margin of 7.3%.

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%.