NRG (NRG)
Daily ERM3 factor decomposition: how much of NRG's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $136.50
- Market cap
- $29.0B
- 23-day vol
- 41.7%
- Sector proxy
- XLU
- Subsector proxy
- PBW
Risk DNA
39% of NRG's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 16.3%Sector 20.4%Subsector 2.1%Stock-specific 61.3%
ETF hedge ratios
Dollars of ETF to short per $1 of NRG held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLU) | Subsector (PBW) | Explained risk |
|---|---|---|---|---|
| L1 | $-1.41 | — | — | 16.3% |
| L2 | $-1.23 | $-1.12 | — | 36.7% |
| L3 | $-0.75 | $-1.16 | $-0.20 | 38.7% |
Data as of July 28, 2026. Updated daily from the ERM3 pipeline.
Go deeper on NRG
Ask the AI risk analyst for NRG's full history, peer comparison, or how it changes your portfolio's risk.