BRK-B (BRK-B)
Daily ERM3 factor decomposition: how much of BRK-B's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $511.54
- Market cap
- $1.10T
- 23-day vol
- 15.5%
- Sector proxy
- XLF
- Subsector proxy
- KIE
Risk DNA
24% of BRK-B's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 0.0%Sector 23.4%Subsector 6.5%Stock-specific 70.1%
ETF hedge ratios
Dollars of ETF to short per $1 of BRK-B held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLF) | Subsector (KIE) | Explained risk |
|---|---|---|---|---|
| L1 | $-0.04 | — | — | -8.0% |
| L2 | $0.31 | $-0.55 | — | 17.2% |
| L3 | $0.16 | $-0.25 | $-0.33 | 24.3% |
Data as of August 1, 2026. Updated daily from the ERM3 pipeline.
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