DIS (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
- $96.14
- Market cap
- $166.9B
- 23-day vol
- 28.1%
- Sector proxy
- XLC
- Subsector proxy
- GGME
Risk DNA
23% of DIS's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 14.4%Sector 8.7%Subsector 0.0%Stock-specific 76.9%
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 | $-0.73 | — | — | 14.4% |
| L2 | $-0.23 | $-0.74 | — | 23.1% |
| L3 | $-0.37 | $-0.73 | $0.11 | 22.9% |
Data as of July 22, 2026. Updated daily from the ERM3 pipeline.
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