ROP (ROP)
Daily ERM3 factor decomposition: how much of ROP's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $375.02
- Market cap
- $38.5B
- 23-day vol
- 40.6%
- Sector proxy
- XLK
- Subsector proxy
- IGV
Risk DNA
26% of ROP's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 0.6%Sector 4.4%Subsector 21.0%Stock-specific 74.1%
ETF hedge ratios
Dollars of ETF to short per $1 of ROP held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLK) | Subsector (IGV) | Explained risk |
|---|---|---|---|---|
| L1 | $-0.12 | — | — | 0.6% |
| L2 | $-0.56 | $0.26 | — | 5.0% |
| L3 | $-0.59 | $0.60 | $-0.47 | 25.9% |
Data as of July 28, 2026. Updated daily from the ERM3 pipeline.
Go deeper on ROP
Ask the AI risk analyst for ROP's full history, peer comparison, or how it changes your portfolio's risk.