DELL: factor decomposition (Technology)

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

Return decomposition (log-return points, additive)

Market+45.22ppSector (excess)+67.01ppRate (excess)-2.64ppIdiosyncratic+35.02pp

Factor betas

Beta · Market (SPY)+2.24
Beta · Sector-excess (XLK)+1.62
Beta · Rate-excess (TLT)+0.74
R²0.27
Window2025-08-22 → 2026-09-24 (273 trading days)

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Moderate confidence: R² is 0.27; these three factors explain some but not most of DELL's day-to-day variance. Treat the split below as directional.

Of DELL's +144.6pp move over this window, +35.0pp (24% of the total magnitude) is idiosyncratic, not explained by riding market, sector, or rate moves. The rest (+109.6pp) came from systematic exposure: market +45.2pp, sector +67.0pp, rate -2.6pp.

Generated 2026-09-25 07:03 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.