CRM (CRM)
Daily ERM3 factor decomposition: how much of CRM's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $170.06
- Market cap
- $139.3B
- 23-day vol
- 40.6%
- Sector proxy
- XLK
- Subsector proxy
- IGV
Risk DNA
57% of CRM's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 2.9%Sector 0.4%Subsector 53.7%Stock-specific 43.0%
ETF hedge ratios
Dollars of ETF to short per $1 of CRM held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLK) | Subsector (IGV) | Explained risk |
|---|---|---|---|---|
| L1 | $-0.33 | — | — | 2.9% |
| L2 | $0.06 | $-0.23 | — | 3.3% |
| L3 | $-0.12 | $0.60 | $-1.06 | 57.0% |
Data as of July 22, 2026. Updated daily from the ERM3 pipeline.
Go deeper on CRM
Ask the AI risk analyst for CRM's full history, peer comparison, or how it changes your portfolio's risk.