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A subclass of ternary intermetallic known as Heusler compounds is being employed in the steel industry to increase material strength. This study examines the structural, electrical, optical, and magnetic properties of Co2VZ (Z=Al, Bi, Ge, Si) compounds using two different methods. First is full potential linearized augmented plane wave (FP-LAPW) method by WIEN2k and second is pseudo potential method by Atomic Tool Kit-Virtual Nano-Lab. The equivalent energy gaps in the minority-spin of Co2VZ (Z= Al, Bi, Ga, Ge) with WIEN2k code, which displays 100% spin polarization, are 0.703, 0.384, 0.186, and 0.67 eV near to the Fermi level. Furthermore, it is discovered that these compounds are absolutely half-metallic ferromagnetic (HMF). With the exception of Co2VBi, which exhibits metallic properties, the aforementioned compounds exhibit 0.525, 0.0, 0.553, and 0.786 eV band gaps in the ATK-VNL code and indicate 100% spin polarization. The magnetic moments of the compounds Co2VZ (Z= Al, Bi, Ga, Ge) are found to be 2.976, 4.003, 1.989, and 3.001 µB, respectively, in the WIEN2k code. The relative magnetic moments of the aforementioned compounds are also 1.991, 3.947, 1.999, and 2.997 µB, according to the ATK-VNL code. [ABSTRACT FROM AUTHOR]