LPX (LPX)
Daily ERM3 factor decomposition: how much of LPX's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $74.23
- Market cap
- $5.2B
- 23-day vol
- 48.7%
- Sector proxy
- XLI
- Subsector proxy
- IYJ
Risk DNA
27% of LPX's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 12.6%Sector 10.1%Subsector 4.8%Stock-specific 72.5%
ETF hedge ratios
Dollars of ETF to short per $1 of LPX held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLI) | Subsector (IYJ) | Explained risk |
|---|---|---|---|---|
| L1 | $-1.30 | — | — | 12.6% |
| L2 | $-0.36 | $-1.01 | — | 22.7% |
| L3 | $-0.05 | $0.56 | $-1.87 | 27.5% |
Data as of July 28, 2026. Updated daily from the ERM3 pipeline.
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