Walt Disney Company (DIS)
Daily ERM3 factor decomposition: how much of DIS's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $105.82
- Market cap
- $183.8B
- 23-day vol
- 25.4%
- Sector proxy
- XLC
- Subsector proxy
- GGME
Risk DNA
22% of DIS's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
DIS carries 77% stock-specific risk against a peer average of 93% — less of what happens here is specific to this name than is typical for its cohort.
Subsector (-0.4%) covaried negatively with DIS over this window, offsetting its variance rather than adding to it. Clamped to 0% for the bar and the remaining layers renormalized, so the percentages above sum to 100.
ETF hedge ratios
Dollars of ETF to short per $1 of DIS held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLC) | Subsector (GGME) | Explained risk |
|---|---|---|---|---|
| L1 | $-0.46 | — | — | 9.5% |
| L2 | $0.07 | $-0.79 | — | 22.7% |
| L3 | $0.15 | $-0.79 | $-0.06 | 22.3% |
Data as of September 11, 2026. Updated daily from the ERM3 pipeline.
Go deeper on DIS
Ask the AI risk analyst for DIS's full history, peer comparison, or how it changes your portfolio's risk.