Skip to content
Research
KnowledgeVisuals
Pricing↗Open the workspace↗Get a free API key↗
.orgResearchResearch — current site.netWorkspace↗Workspace — opens riskmodels.net.appAPI↗API — opens riskmodels.app
Next filing · Form 10-Q · Q3 2026 · 18 days
Next filing · Form 10-Q · Q3 2026 · 18 daysAPI Update · Point-in-Time (PIT) historical commit tracking — securities and funds unifiedAPI Update · ERM3 L3 variance partition — institutional transparency releaseFactor Research · L-Star adaptive hedge depth — out-of-sample validation across ten allocator universesPart 1 · One Position, Four BetsPart 2 · Risk Structure in 13F FilingsNext filing · Form 10-Q · Q3 2026 · 18 daysAPI Update · Point-in-Time (PIT) historical commit tracking — securities and funds unifiedAPI Update · ERM3 L3 variance partition — institutional transparency releaseFactor Research · L-Star adaptive hedge depth — out-of-sample validation across ten allocator universesPart 1 · One Position, Four BetsPart 2 · Risk Structure in 13F Filings
Ledger

Risk decomposition

UNH

Market → sector → subsector → α-residual · 2026-05-01 → 2026-10-21

UNH factor & risk decomposition snapshot
Market
+3.9%
Sector
+13.8%
Subsector
+9.9%
α residual
-13.3%
Stock
+14.4%

Every position carries the market, its sector, and its subsector before any stock-specific move. The waterfall splits UNH'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=UNH&years=1

How the decomposition works →Research →Run UNH on riskmodels.net →Run any ticker via the API →

RiskModels.org

A research surface for hierarchical orthogonal decomposition, variance attribution, and allocator-grade risk measurement. Operational APIs and developer workflows live at riskmodels.app.

Subscribe to the Quarterly Attribution Review.

Research notes on risk decomposition, fund attribution, 13F filings, and benchmark structure — a few times a quarter.

By registering, you agree to receive technical factor research and API deployment logs. RM-Registry-2026. Privacy Policy.

Sign inHomePrimerWorkspaceResearchVideosDemosKnowledgeConceptsReviewsLedgerReferencesAboutSubscribeMethodology noteOne-pagerAPI docsWeb appContactPrivacyStatusRSS
RiskModelsResearch/Workspace/API