Coinbase Global, Inc. Class A (COIN)
Daily ERM3 factor decomposition: how much of COIN's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $183.81
- Market cap
- $48.4B
- 23-day vol
- 71.9%
- Sector proxy
- XLF
- Subsector proxy
- IAI
Risk DNA
40% of COIN's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
COIN carries 60% stock-specific risk against a peer average of 72% — 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 COIN held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLF) | Subsector (IAI) | Explained risk |
|---|---|---|---|---|
| L1 | $-2.69 | — | — | 25.8% |
| L2 | $-2.37 | $-0.52 | — | 26.0% |
| L3 | $-0.60 | $1.11 | $-2.61 | 40.1% |
Data as of October 16, 2026. Updated daily from the ERM3 pipeline.
13F filers holding COIN
From the most recent quarterly 13F filings in our tracked filer universe, largest reported position first.
Browse every tracked 13F filer.
Go deeper on COIN
Ask the AI risk analyst for COIN's full history, peer comparison, or how it changes your portfolio's risk.