> ## Documentation Index > Fetch the complete documentation index at: https://docs.itoflow.ai/llms.txt > Use this file to discover all available pages before exploring further. # Compute a point-in-time factor risk covariance matrix > Returns the asset covariance matrix for the requested symbols as of a historical date, built from the point-in-time factor model snapshot resolved at or before that date. Operation ID: post__factor_risk_covariance. ## OpenAPI ````yaml /openapi/itoflow-public.openapi.json post /factor-risk/covariance openapi: 3.1.0 info: description: >- All Itoflow APIs are experimental and may change without notice. Read-only operations marked interactive can be tried from the documentation; the others are reference-only. title: Itoflow Developer API version: 1.0.0 servers: - description: Itoflow API url: https://api.itoflow.ai security: [] tags: - name: Account - name: Billing - name: Brokers - name: Chat - name: Connected MCP servers - name: GitHub - name: Market data - name: Monitors - name: Notifications - name: Portfolios - name: Risk runs - name: Sharing and data - name: Strategies paths: /factor-risk/covariance: post: tags: - Market data summary: Compute a point-in-time factor risk covariance matrix description: >- Returns the asset covariance matrix for the requested symbols as of a historical date, built from the point-in-time factor model snapshot resolved at or before that date. Operation ID: post__factor_risk_covariance. operationId: post__factor_risk_covariance requestBody: content: application/json: schema: $ref: '#/components/schemas/FactorRiskCovarianceRequest' required: true responses: '200': content: application/json: schema: $ref: '#/components/schemas/FactorRiskCovarianceResponse' description: Point-in-time asset covariance matrix '400': content: application/json: schema: $ref: '#/components/schemas/FactorRiskError' description: Invalid factor risk request '401': content: application/json: schema: $ref: '#/components/schemas/Error' description: Authentication required '404': content: application/json: schema: $ref: '#/components/schemas/FactorRiskError' description: Factor model version or historical snapshot not found '422': content: application/json: schema: $ref: '#/components/schemas/FactorRiskError' description: Historical factor snapshot is unusable for this request '503': content: application/json: schema: $ref: '#/components/schemas/FactorRiskError' description: Factor risk service unavailable security: - bearerAuth: [] components: schemas: FactorRiskCovarianceRequest: additionalProperties: false properties: as_of: description: >- Requested point-in-time date. The service resolves it to the nearest usable snapshot at or before this date. example: '2026-06-30' pattern: ^\d{4}-\d{2}-\d{2}$ type: string model_version: description: >- Pin a specific factor model version. Defaults to the current version when omitted. example: global-equity-v1 maxLength: 120 minLength: 1 type: string symbols: description: >- Symbols to build the asset covariance matrix for: up to 1000 distinct symbols after trimming and first-seen deduplication (the raw list may hold up to 5000 entries). Symbols are used as given; the server validates them when it builds the matrix. example: - AAPL.US - MSFT.US items: maxLength: 50 minLength: 1 type: string maxItems: 5000 minItems: 1 type: array required: - as_of - symbols type: object FactorRiskCovarianceResponse: properties: annualization_factor: enum: - 252 type: number base_currency: enum: - USD - EUR - GBP - JPY - CHF - CAD - AUD - NZD - HKD - SGD - SEK - NOK - DKK - INR - CNY - KRW - TWD - BRL - MXN - ZAR - ILS - PLN - CZK - HUF - TRY - THB - MYR - IDR - PHP - AED - SAR type: string covariance: description: Row-major asset covariance matrix aligned to `symbols` on both axes. items: items: type: number type: array type: array model_version: maxLength: 120 minLength: 1 type: string provenance: $ref: '#/components/schemas/FactorRiskProvenance' requested_as_of: type: string return_convention: enum: - simple_daily - log_daily type: string snapshot_as_of: description: Snapshot date actually used, at or before `requested_as_of`. type: string symbol_warnings: additionalProperties: items: type: string type: array description: >- Per-symbol quality warnings the model persisted with the loadings and specific risk used in the matrix (high shrinkage, high leverage, no finite factor inputs); only symbols with warnings appear. type: object symbols: description: Symbol ordering for both covariance axes. items: type: string type: array warnings: items: type: string type: array required: - annualization_factor - base_currency - covariance - model_version - provenance - requested_as_of - return_convention - snapshot_as_of - symbols - warnings - symbol_warnings type: object FactorRiskError: properties: details: $ref: '#/components/schemas/FactorRiskErrorDetails' error: $ref: '#/components/schemas/FactorRiskErrorCode' message: type: string required: - details - error - message type: object Error: properties: available: description: Optional available amount or value type: string billing_action: $ref: '#/components/schemas/BillingAction' code: description: Machine-readable error code type: string currentVersion: description: Current server-side version, when relevant type: number details: description: Optional structured error details error: description: Error type or code type: string expectedVersion: description: Client-provided expected version, when relevant type: number message: description: Human-readable error message type: string requested: description: Optional requested amount or value type: string usage: description: Optional usage metadata for limit errors required: - error type: object FactorRiskProvenance: properties: classification_inputs: $ref: '#/components/schemas/FactorRiskClassificationInputs' factor_availability: additionalProperties: $ref: '#/components/schemas/FactorRiskFactorAvailability' type: object factor_count: type: number pit_policy: $ref: '#/components/schemas/FactorRiskPitPolicy' psd_repaired: description: >- True when the covariance matrix required a positive semi-definite repair. type: boolean snapshot_instant: description: Instant the resolved snapshot was sealed. type: string style_inputs: $ref: '#/components/schemas/FactorRiskStyleInputs' required: - classification_inputs - factor_count - factor_availability - pit_policy - psd_repaired - snapshot_instant - style_inputs type: object FactorRiskErrorDetails: additionalProperties: {} properties: invalid_symbols: items: type: string type: array missing_symbol_count: type: number missing_symbols: items: type: string type: array model_version: type: string reason: $ref: '#/components/schemas/FactorRiskFailureReason' requested_as_of: type: string snapshot_as_of: type: string symbol_count: type: number type: object FactorRiskErrorCode: enum: - invalid_factor_risk_request - factor_model_version_not_found - historical_factor_snapshot_not_found - historical_factor_snapshot_unusable - factor_risk_service_unavailable type: string BillingAction: description: Action that resolves a billing-related rejection properties: href: type: string kind: enum: - upgrade - payment_method - spending_cap - billing type: string label: type: string required: - href - label - kind type: object FactorRiskClassificationInputs: enum: - point_in_time - current_static - unavailable type: string FactorRiskFactorAvailability: properties: available: type: boolean observations: minimum: 0 type: integer reason: $ref: '#/components/schemas/FactorRiskUnavailableReason' required: - available - observations - reason type: object FactorRiskPitPolicy: enum: - strict - tiered type: string FactorRiskStyleInputs: enum: - point_in_time type: string FactorRiskFailureReason: enum: - stale_snapshot - incoherent_snapshot - non_pit_inputs - incomplete_factor_set - incomplete_symbol_coverage - missing_model_convention - invalid_covariance type: string FactorRiskUnavailableReason: enum: - missing_point_in_time_inputs - insufficient_return_observations - no_calibration_exposure_support - null type: - string - 'null' securitySchemes: bearerAuth: bearerFormat: JWT description: Itoflow access token issued for the Itoflow API. scheme: bearer type: http ```` This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.