PHVS: factor decomposition (Healthcare)

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

Return decomposition (log-return points, additive)

Market+17.54ppSector (excess)+11.83ppRate (excess)-0.10ppIdiosyncratic+5.29pp

Factor betas

Beta · Market (SPY)+0.87
Beta · Sector-excess (XLV)+0.50
Beta · Rate-excess (TLT)+0.03
R²0.06
Window2025-08-22 → 2026-09-24 (273 trading days)

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Low confidence in this split. R² is only 0.06: market, sector, and rate moves together barely track PHVS's day-to-day returns over this window, so the betas below are noisy and the systematic/idiosyncratic split is rough at best. This itself is informative: PHVS is trading on its own news, not macro.

Of PHVS's +34.6pp move over this window, +5.3pp (15% of the total magnitude) is idiosyncratic, not explained by riding market, sector, or rate moves. The rest (+29.3pp) came from systematic exposure: market +17.5pp, sector +11.8pp, rate -0.1pp.

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.