PG (PG)
Daily ERM3 factor decomposition: how much of PG's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $148.34
- Market cap
- $359.6B
- 23-day vol
- 24.8%
- Sector proxy
- XLP
- Subsector proxy
- IYK
Risk DNA
53% of PG's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 0.0%Sector 48.3%Subsector 5.8%Stock-specific 46.0%
ETF hedge ratios
Dollars of ETF to short per $1 of PG held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLP) | Subsector (IYK) | Explained risk |
|---|---|---|---|---|
| L1 | $-0.15 | — | — | -2.5% |
| L2 | $-0.13 | $-0.93 | — | 47.0% |
| L3 | $-0.18 | $-0.03 | $-1.04 | 52.9% |
Data as of June 12, 2026. Updated daily from the ERM3 pipeline.
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