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
- $110.39
- Market cap
- $878.5B
- 23-day vol
- 26.1%
- Sector proxy
- XLY
- Subsector proxy
- XRT
Risk DNA
2% of WMT's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 0.0%Sector 0.1%Subsector 4.8%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 | $0.07 | — | — | -3.5% |
| L2 | $0.35 | $-0.24 | — | -3.4% |
| L3 | $0.37 | $0.08 | $-0.42 | 1.6% |
Data as of July 22, 2026. Updated daily from the ERM3 pipeline.
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