SONY (SONY)
Daily ERM3 factor decomposition: how much of SONY's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $22.29
- Market cap
- $133.0B
- 23-day vol
- 34.0%
- Sector proxy
- XLY
- Subsector proxy
- XHB
Risk DNA
15% of SONY's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 15.5%Sector 0.0%Subsector 0.0%Stock-specific 84.5%
ETF hedge ratios
Dollars of ETF to short per $1 of SONY held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLY) | Subsector (XHB) | Explained risk |
|---|---|---|---|---|
| L1 | $-0.83 | — | — | 15.7% |
| L2 | $-0.87 | $0.04 | — | 15.1% |
| L3 | $-0.84 | $0.23 | $-0.24 | 14.6% |
Data as of July 28, 2026. Updated daily from the ERM3 pipeline.
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