WMT (WMT)
Daily ERM3 factor decomposition: how much of WMT's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $120.50
- Market cap
- $965.1B
- 23-day vol
- 33.7%
- Sector proxy
- XLY
- Subsector proxy
- XRT
Risk DNA
1% of WMT's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 0.0%Sector 0.3%Subsector 4.6%Stock-specific 95.1%
ETF hedge ratios
Dollars of ETF to short per $1 of WMT held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLY) | Subsector (XRT) | Explained risk |
|---|---|---|---|---|
| L1 | $-0.09 | — | — | -4.3% |
| L2 | $0.04 | $-0.11 | — | -4.0% |
| L3 | $0.10 | $0.21 | $-0.43 | 0.8% |
Data as of June 12, 2026. Updated daily from the ERM3 pipeline.
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