Real have lost three games on the bounce and seen their championship lead slashed to just two points by nearest rivals Barcelona.
But Italian defender Cannavaro says: "We are having trouble with our results, but playing in these last three defeats was a Madrid which is not in crisis, not short of running or winning, we are just missing the results.
"The Liga isn't decided in February."
On Sunday's defeat to Getafe, he added: "When you go through something like this it gives you a lot of grief, especially since we had control of the game, Getafe was playing well, but we were better. The veterans should reassure the team."