Enter up to five holdings and their weights. Quantora regresses each position's daily returns on SPY over the last ~2 years to estimate its beta, then blends them by weight into a single portfolio beta — your book's sensitivity to the broad market — and shows the SPY short that would neutralize it.
Method: each holding's beta is the slope of its daily returns regressed on SPY (covariance / variance) over the trailing ~2 years (~504 sessions), and the portfolio beta is the weight-weighted average of those betas. Weights you enter — percentages or dollar amounts — are normalized to sum to 100%. To neutralize market risk, short beta × portfolio value in SPY. Beta is estimated from historical data and is unstable: it drifts over time and can jump in a crisis, so re-estimate and rebalance regularly. A beta hedge strips out broad-market (systematic) risk but leaves each position's stock-specific, idiosyncratic risk fully intact. Educational only - not investment advice.