Tesla, Inc. (TSLA)
Daily ERM3 factor decomposition: how much of TSLA's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $363.56
- Market cap
- $1.29T
- 23-day vol
- 49.0%
- Sector proxy
- XLY
- Subsector proxy
- CARZ
Risk DNA
53% of TSLA's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
TSLA carries 47% stock-specific risk against a peer average of 86% — 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 TSLA held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLY) | Subsector (CARZ) | Explained risk |
|---|---|---|---|---|
| L1 | $-2.24 | — | — | 37.8% |
| L2 | $-1.75 | $-0.42 | — | 50.1% |
| L3 | $-0.54 | $-0.61 | $-0.48 | 53.2% |
Data as of September 11, 2026. Updated daily from the ERM3 pipeline.
13F filers holding TSLA
From the most recent quarterly 13F filings in our tracked filer universe, largest reported position first.
Browse every tracked 13F filer.
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