UBER (UBER)
Daily ERM3 factor decomposition: how much of UBER's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $68.18
- Market cap
- $138.8B
- 23-day vol
- 44.0%
- Sector proxy
- XLK
- Subsector proxy
- IGV
Risk DNA
14% of UBER's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 12.2%Sector 1.5%Subsector 0.3%Stock-specific 86.0%
ETF hedge ratios
Dollars of ETF to short per $1 of UBER 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 | $-0.90 | — | — | 12.2% |
| L2 | $-1.26 | $0.22 | — | 13.7% |
| L3 | $-1.27 | $0.39 | $-0.24 | 14.0% |
Data as of July 28, 2026. Updated daily from the ERM3 pipeline.
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