Ovintiv Historical Valuation
| OVV Stock | CAD 57.68 1.09 1.85% |
Some fundamental drivers such as market cap or Ovintiv enterprice value can be analyzed from historical perspective to project value of the company into the future. Some investors analyze Ovintiv valuation indicators such as to time the market or to short-sell their positions based on the trend in valuation ratios. It is a perfect tool to project the direction of Ovintiv's future value.
Ovintiv |
About Ovintiv Valuation Data Analysis
Valuation is the financial process of determining what Ovintiv is worth. Ovintiv valuation ratios put that insight into the context of a company's share price, where they serve as useful tools for evaluating and utilizing investment potential. Ovintiv valuation ratios help investors to determine whether Ovintiv Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Ovintiv with respect to the benefits of owning Ovintiv security.
Ovintiv Valuation Data Chart
Enterprise Value
Enterprise Value (or EV) is usually referred to as Ovintiv theoretical takeover price. In the event of an acquisition, an acquirer would have to take on Ovintiv debt, but would also pocket its cash. Enterprise Value is more accurate representation of Ovintiv value than its market capitalization because it takes into account all of Ovintiv existing debt. A measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization that includes the market capitalization, plus total debt, minority interest and preferred shares, minus total cash and cash equivalents.Pair Trading with Ovintiv
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Ovintiv position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Ovintiv will appreciate offsetting losses from the drop in the long position's value.Moving together with Ovintiv Stock
Moving against Ovintiv Stock
| 0.74 | ARA | Aclara Resources | PairCorr |
| 0.64 | CCL-A | CCL Industries | PairCorr |
| 0.58 | RCI-A | Rogers Communications | PairCorr |
| 0.42 | SAGE | Sage Potash Corp | PairCorr |
The ability to find closely correlated positions to Ovintiv could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ovintiv when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Ovintiv - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Ovintiv to buy it.
The correlation of Ovintiv is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ovintiv moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ovintiv moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Ovintiv can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ovintiv. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. To learn how to invest in Ovintiv Stock, please use our How to Invest in Ovintiv guide.You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..