BEAM (BEAM)
Daily ERM3 factor decomposition: how much of BEAM's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $25.07
- Market cap
- $2.6B
- 23-day vol
- 59.5%
- Sector proxy
- XLV
- Subsector proxy
- XBI
Risk DNA
37% of BEAM's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 11.7%Sector 3.8%Subsector 21.3%Stock-specific 63.2%
ETF hedge ratios
Dollars of ETF to short per $1 of BEAM held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLV) | Subsector (XBI) | Explained risk |
|---|---|---|---|---|
| L1 | $-2.35 | — | — | 11.7% |
| L2 | $-2.12 | $-0.72 | — | 15.5% |
| L3 | $-0.99 | $0.01 | $-1.36 | 36.8% |
Data as of July 28, 2026. Updated daily from the ERM3 pipeline.
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