Risk decomposition
GE
Market → sector → subsector → α-residual · 2026-03-16 → 2026-09-03
Market
+21.1%
Sector
-13.0%
Subsector
-5.8%
α residual
+7.5%
Stock
+9.8%
Every position carries the market, its sector, and its subsector before any stock-specific move. The waterfall splits GE's realized return into those benchmark layers; the α residual is what the three hedge layers do not explain.
source: RiskModels — GET /ticker-returns?ticker=GE&years=1