KKR (KKR)
Daily ERM3 factor decomposition: how much of KKR's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $101.63
- Market cap
- $90.4B
- 23-day vol
- 34.2%
- Sector proxy
- XLF
- Subsector proxy
- IYG
Risk DNA
43% of KKR's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 25.6%Sector 17.4%Subsector 0.0%Stock-specific 57.0%
ETF hedge ratios
Dollars of ETF to short per $1 of KKR held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLF) | Subsector (IYG) | Explained risk |
|---|---|---|---|---|
| L1 | $-1.12 | — | — | 25.7% |
| L2 | $-0.50 | $-0.97 | — | 43.1% |
| L3 | $-0.34 | $-0.43 | $-0.66 | 42.8% |
Data as of July 28, 2026. Updated daily from the ERM3 pipeline.
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