Risk decomposition
SOFI
Market → sector → subsector → α-residual · 2026-03-16 → 2026-09-03
Market
+35.4%
Sector
+4.3%
Subsector
-0.7%
α residual
-34.0%
Stock
+5.0%
Every position carries the market, its sector, and its subsector before any stock-specific move. The waterfall splits SOFI'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=SOFI&years=1