PD.TO vs. CVE.TO
PD.TO (Precision Drilling Corporation) and CVE.TO (Cenovus Energy Inc.) are both stocks. Both are in the Energy sector — PD.TO in Oil & Gas Drilling, CVE.TO in Oil & Gas Integrated. Over the past 10 years, PD.TO returned 0.04%/yr vs 9.76%/yr for CVE.TO. A 0.57 correlation means they provide meaningful diversification when combined.
Performance
PD.TO vs. CVE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PD.TO achieves a 39.44% return, which is significantly lower than CVE.TO's 79.19% return. Over the past 10 years, PD.TO has underperformed CVE.TO with an annualized return of 0.04%, while CVE.TO has yielded a comparatively higher 9.76% annualized return.
PD.TO
- 1D
- 3.94%
- 1M
- 9.78%
- YTD
- 39.44%
- 6M
- 45.71%
- 1Y
- 117.09%
- 3Y*
- 31.26%
- 5Y*
- 23.74%
- 10Y*
- 0.04%
CVE.TO
- 1D
- 0.85%
- 1M
- 4.71%
- YTD
- 79.19%
- 6M
- 65.47%
- 1Y
- 136.68%
- 3Y*
- 25.72%
- 5Y*
- 32.65%
- 10Y*
- 9.76%
PD.TO vs. CVE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PD.TO Precision Drilling Corporation | 39.44% | 12.02% | 22.18% | -30.61% | 132.07% | 113.52% | -42.18% | -23.63% | -37.80% | -47.95% |
CVE.TO Cenovus Energy Inc. | 79.19% | 10.53% | 2.13% | -14.07% | 72.44% | 101.55% | -40.39% | 39.99% | -14.88% | -42.52% |
Correlation
The correlation between PD.TO and CVE.TO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009 | 0.57 |
The correlation between PD.TO and CVE.TO has been stable across timeframes, ranging from 0.57 to 0.67 - a consistent structural relationship.
Fundamentals
PD.TO:
CA$1.78B
CVE.TO:
CA$77.70B
PD.TO:
-CA$1.13
CVE.TO:
CA$2.52
PD.TO:
0.99
CVE.TO:
1.56
PD.TO:
1.10
CVE.TO:
2.39
PD.TO:
CA$1.87B
CVE.TO:
CA$48.75B
PD.TO:
CA$628.52M
CVE.TO:
CA$7.87B
PD.TO:
CA$485.26M
CVE.TO:
CA$11.41B
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Return for Risk
PD.TO vs. CVE.TO — Risk / Return Rank
PD.TO
CVE.TO
PD.TO vs. CVE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Precision Drilling Corporation (PD.TO) and Cenovus Energy Inc. (CVE.TO). 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.
| PD.TO | CVE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.55 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 5.97 | 9.71 | -3.75 |
| Martin ratioReturn relative to average drawdown | 23.01 | 29.34 | -6.34 |
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
| PD.TO | CVE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.28 | 4.13 | -0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.86 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.00 | 0.20 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.12 | -0.06 |
Drawdowns
PD.TO vs. CVE.TO - Drawdown Comparison
The maximum PD.TO drawdown since its inception was -99.36%, which is greater than CVE.TO's maximum drawdown of -92.84%. Use the drawdown chart below to compare losses from any high point for PD.TO and CVE.TO.
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Drawdown Indicators
| PD.TO | CVE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.36% | -92.84% | -6.52% |
Max Drawdown (1Y)Largest decline over 1 year | -19.54% | -14.53% | -5.01% |
Max Drawdown (3Y)Largest decline over 3 years | -49.00% | -47.23% | -1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -52.69% | -47.23% | -5.46% |
Max Drawdown (10Y)Largest decline over 10 years | -94.78% | -88.58% | -6.20% |
Current DrawdownCurrent decline from peak | -89.31% | -5.38% | -83.93% |
Average DrawdownAverage peak-to-trough decline | -65.62% | -34.60% | -31.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 4.80% | +0.26% |
Volatility
PD.TO vs. CVE.TO - Volatility Comparison
Precision Drilling Corporation (PD.TO) has a higher volatility of 13.04% compared to Cenovus Energy Inc. (CVE.TO) at 11.63%. This indicates that PD.TO's price experiences larger fluctuations and is considered to be riskier than CVE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PD.TO | CVE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.04% | 11.63% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 27.31% | 26.45% | +0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.55% | 34.48% | +1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.51% | 38.09% | +8.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.48% | 47.99% | +9.49% |
Dividends
PD.TO vs. CVE.TO - Dividend Comparison
PD.TO has not paid dividends to shareholders, while CVE.TO's dividend yield for the trailing twelve months is around 1.93%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVE.TO Cenovus Energy Inc. | 1.93% | 3.36% | 3.74% | 2.38% | 1.77% | 0.57% | 0.81% | 1.61% | 2.08% | 1.74% | 0.99% | 4.87% |
PD.TO Precision Drilling Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.12% |
Financials
PD.TO vs. CVE.TO - Financials Comparison
This section allows you to compare key financial metrics between Precision Drilling Corporation 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
PD.TO vs. CVE.TO - Profitability Comparison
PD.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Precision Drilling Corporation reported a gross profit of 81.36M and revenue of 526.05M. Therefore, the gross margin over that period was 15.5%.
CVE.TO - 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 12.36B. Therefore, the gross margin over that period was 21.9%.
PD.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Precision Drilling Corporation reported an operating income of 39.62M and revenue of 526.05M, resulting in an operating margin of 7.5%.
CVE.TO - 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 12.36B, resulting in an operating margin of 18.6%.
PD.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Precision Drilling Corporation reported a net income of 17.38M and revenue of 526.05M, resulting in a net margin of 3.3%.
CVE.TO - 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 12.36B, resulting in a net margin of 12.7%.
Frequently Asked Questions
PD.TO and CVE.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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