TTWO (TTWO)
Daily ERM3 factor decomposition: how much of TTWO's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $243.95
- Market cap
- $45.2B
- 23-day vol
- 33.2%
- Sector proxy
- XLC
- Subsector proxy
- GGME
Risk DNA
18% of TTWO's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 8.2%Sector 5.4%Subsector 4.9%Stock-specific 81.5%
ETF hedge ratios
Dollars of ETF to short per $1 of TTWO held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLC) | Subsector (GGME) | Explained risk |
|---|---|---|---|---|
| L1 | $-0.54 | — | — | 8.2% |
| L2 | $-0.22 | $-0.45 | — | 13.6% |
| L3 | $0.37 | $-0.44 | $-0.46 | 18.5% |
Data as of July 28, 2026. Updated daily from the ERM3 pipeline.
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