CRWV (CRWV)
Daily ERM3 factor decomposition: how much of CRWV's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $67.30
- Market cap
- $36.7B
- 23-day vol
- 85.7%
- Sector proxy
- XLK
- Subsector proxy
- IGV
Risk DNA
18% of CRWV's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 13.3%Sector 5.6%Subsector 0.0%Stock-specific 81.1%
ETF hedge ratios
Dollars of ETF to short per $1 of CRWV 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 | $-2.91 | — | — | 13.5% |
| L2 | $-1.74 | $-0.69 | — | 19.1% |
| L3 | $-1.75 | $-0.28 | $-0.58 | 18.1% |
Data as of July 29, 2026. Updated daily from the ERM3 pipeline.
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