XOM (XOM)
Daily ERM3 factor decomposition: how much of XOM's variance is explained by the market, its sector, and its subsector — and the ETF notionals that would neutralize each layer.
- Price
- $151.71
- Market cap
- $628.8B
- 23-day vol
- 25.5%
- Sector proxy
- XLE
- Subsector proxy
- IYE
Risk DNA
82% of XOM's variance is systematic (explainable by market, sector, and subsector factors); the rest is stock-specific.
Market 0.0%Sector 82.0%Subsector 0.0%Stock-specific 18.0%
ETF hedge ratios
Dollars of ETF to short per $1 of XOM held — executable hedge weights, not regression betas. L1 hedges market only; L3 adds sector and subsector layers.
| Level | Market (SPY) | Sector (XLE) | Subsector (IYE) | Explained risk |
|---|---|---|---|---|
| L1 | $0.54 | — | — | -2.1% |
| L2 | $0.36 | $-0.90 | — | 81.9% |
| L3 | $0.36 | $-0.90 | $-0.00 | 81.6% |
Data as of July 22, 2026. Updated daily from the ERM3 pipeline.
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