Micron Technology, Inc. (MU)
Daily ERM3 factor decomposition: how much of MU's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $977.41
- Market cap
- $1.10T
- 23-day vol
- 54.6%
- Sector proxy
- XLK
- Subsector proxy
- SMH
Risk DNA
59% of MU's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
MU carries 41% stock-specific risk against a peer average of 69% — less of what happens here is specific to this name than is typical for its cohort.
ETF hedge ratios
Dollars of ETF to short per $1 of MU held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLK) | Subsector (SMH) | Explained risk |
|---|---|---|---|---|
| L1 | $-3.51 | — | — | 26.6% |
| L2 | $1.59 | $-2.92 | — | 54.0% |
| L3 | $0.62 | $-1.11 | $-0.92 | 58.9% |
Data as of September 11, 2026. Updated daily from the ERM3 pipeline.
13F filers holding MU
From the most recent quarterly 13F filings in our tracked filer universe, largest reported position first.
- Appaloosa Management17.8%
- Coatue Management9.1%
- Citadel Advisors6.6%
- D. E. Shaw & Co.1.8%
- Point72 Asset Management1.4%
- Bridgewater Associates0.9%
Browse every tracked 13F filer.
Go deeper on MU
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