BE — factor decomposition (Clean Energy)

How much of BE's move over the window is systematic (market, ICLN sector-excess, rate-excess via TLT) vs. idiosyncratic (stock-specific).

Return decomposition (log-return points, additive)

Market+88.82ppSector (excess)-0.00ppRate (excess)+0.00ppIdiosyncratic+133.96pp

Factor betas

Beta · Market (SPY)+4.32
Beta · Sector-excess (ICLN)+2.81
Beta · Rate-excess (TLT)-0.73
R²0.55
Window2025-06-30 → 2026-07-31 (274 trading days)

Read

R² is 0.55 — a reasonably reliable fit; the betas and the split below are worth reading at face value.

Of BE's +222.8pp move over this window, +134.0pp (60% of the total magnitude) is idiosyncratic — not explained by riding market, sector, or rate moves. The rest (+88.8pp) came from systematic exposure: market +88.8pp, sector -0.0pp, rate +0.0pp.

Generated 2026-08-01 18:46 UTC · factor-decomposition · simple 3-factor OLS (market, sector-excess, rate-excess, mutually orthogonalized) · log returns, additive over the window · a transparent estimate, not a commercial risk model — treat betas as directional, always check R² first.