Advanced Micro Devices, Inc. (AMD)
Daily ERM3 factor decomposition: how much of AMD's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $516.13
- Market cap
- $841.3B
- 23-day vol
- 49.1%
- Sector proxy
- XLK
- Subsector proxy
- SMH
Risk DNA
54% of AMD's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
AMD carries 46% stock-specific risk against a peer average of 69% — less of what happens here is specific to this name than is typical for its cohort.
ETF hedge ratios
Dollars of ETF to short per $1 of AMD held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLK) | Subsector (SMH) | Explained risk |
|---|---|---|---|---|
| L1 | $-3.26 | — | — | 29.6% |
| L2 | $0.41 | $-2.11 | — | 49.2% |
| L3 | $-0.47 | $-0.48 | $-0.82 | 53.5% |
Data as of September 12, 2026. Updated daily from the ERM3 pipeline.
13F filers holding AMD
From the most recent quarterly 13F filings in our tracked filer universe, largest reported position first.
- ARK Investment Management5.8%
- Citadel Advisors3.2%
- D. E. Shaw & Co.2.0%
- Bridgewater Associates2.0%
- Tiger Global Management1.9%
- Appaloosa Management1.8%
- Beacon Pointe Advisors1.8%
- Point72 Asset Management1.4%
Browse every tracked 13F filer.
Go deeper on AMD
Ask the AI risk analyst for AMD's full history, peer comparison, or how it changes your portfolio's risk.