Standard Deviations by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2023

Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/optvar.xls

For global datasets: https://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html

can be obtained by clicking here

on which companies are included in each industry


Industry Name Number of Firms Std Deviation in Equity Std Deviation in Firm Value E/(D+E) D/(D+E)
Advertising 58 52.72% 40.04% 68.97% 31.03%
Aerospace/Defense 77 37.56% 31.46% 79.33% 20.67%
Air Transport 21 37.73% 19.99% 34.92% 65.08%
Apparel 39 38.51% 28.39% 65.98% 34.02%
Auto & Truck 31 52.61% 39.03% 66.58% 33.42%
Auto Parts 37 39.52% 30.34% 70.10% 29.90%
Bank (Money Center) 7 19.59% 10.01% 31.61% 68.39%
Banks (Regional) 557 16.76% 11.72% 60.75% 39.25%
Beverage (Alcoholic) 23 49.87% 42.56% 81.36% 18.64%
Beverage (Soft) 31 41.72% 37.35% 86.75% 13.25%
Broadcasting 26 46.90% 26.41% 40.51% 59.49%
Brokerage & Investment Banking 30 28.00% 14.56% 33.21% 66.79%
Building Materials 45 29.19% 24.06% 77.56% 22.44%
Business & Consumer Services 164 45.78% 38.04% 78.45% 21.55%
Cable TV 10 25.41% 15.57% 48.25% 51.75%
Chemical (Basic) 38 46.58% 34.84% 67.43% 32.57%
Chemical (Diversified) 4 39.49% 28.32% 63.19% 36.81%
Chemical (Specialty) 76 42.32% 35.18% 78.49% 21.51%
Coal & Related Energy 19 61.96% 53.25% 82.16% 17.84%
Computer Services 80 47.78% 38.60% 75.44% 24.56%
Computers/Peripherals 42 48.73% 45.36% 91.31% 8.69%
Construction Supplies 49 35.11% 28.75% 76.85% 23.15%
Diversified 23 57.84% 49.86% 82.48% 17.52%
Drugs (Biotechnology) 598 58.41% 52.27% 86.71% 13.29%
Drugs (Pharmaceutical) 281 64.88% 58.72% 88.02% 11.98%
Education 33 41.81% 34.14% 76.56% 23.44%
Electrical Equipment 110 58.55% 50.08% 81.62% 18.38%
Electronics (Consumer & Office) 16 39.56% 35.15% 85.87% 14.13%
Electronics (General) 138 44.94% 39.32% 84.16% 15.84%
Engineering/Construction 43 35.17% 28.56% 75.99% 24.01%
Entertainment 110 57.81% 46.53% 75.03% 24.97%
Environmental & Waste Services 62 48.09% 40.40% 79.66% 20.34%
Farming/Agriculture 39 54.43% 43.67% 74.70% 25.30%
Financial Svcs. (Non-bank & Insurance) 223 27.15% 11.31% 9.05% 90.95%
Food Processing 92 34.23% 28.22% 77.60% 22.40%
Food Wholesalers 14 32.42% 24.49% 68.42% 31.58%
Furn/Home Furnishings 32 41.91% 30.33% 64.13% 35.87%
Green & Renewable Energy 19 67.60% 40.08% 45.23% 54.77%
Healthcare Products 254 50.94% 46.42% 88.81% 11.19%
Healthcare Support Services 131 47.79% 40.61% 80.90% 19.10%
Heathcare Information and Technology 138 53.87% 48.57% 87.56% 12.44%
Homebuilding 32 33.33% 26.96% 75.57% 24.43%
Hospitals/Healthcare Facilities 34 51.19% 33.16% 53.41% 46.59%
Hotel/Gaming 69 38.05% 26.42% 60.03% 39.97%
Household Products 127 56.83% 50.79% 86.56% 13.44%
Information Services 73 45.11% 40.98% 88.45% 11.55%
Insurance (General) 21 43.76% 35.76% 76.63% 23.37%
Insurance (Life) 27 28.89% 18.43% 51.97% 48.03%
Insurance (Prop/Cas.) 51 27.67% 23.82% 82.33% 17.67%
Investments & Asset Management 600 9.91% 7.77% 72.28% 27.72%
Machinery 116 32.36% 27.96% 82.75% 17.25%
Metals & Mining 68 70.06% 60.28% 82.27% 17.73%
Office Equipment & Services 16 35.22% 24.43% 59.95% 40.05%
Oil/Gas (Integrated) 4 30.55% 28.05% 89.68% 10.32%
Oil/Gas (Production and Exploration) 174 56.98% 49.46% 83.28% 16.72%
Oil/Gas Distribution 23 33.55% 22.89% 58.34% 41.66%
Oilfield Svcs/Equip. 101 46.90% 37.88% 75.41% 24.59%
Packaging & Container 25 24.43% 17.26% 61.74% 38.26%
Paper/Forest Products 7 42.84% 32.71% 69.51% 30.49%
Power 48 17.18% 11.49% 56.45% 43.55%
Precious Metals 74 72.54% 64.49% 85.97% 14.03%
Publishing & Newspapers 20 30.92% 23.80% 70.34% 29.66%
R.E.I.T. 223 21.54% 14.40% 56.39% 43.61%
Real Estate (Development) 18 51.25% 31.00% 47.05% 52.95%
Real Estate (General/Diversified) 12 28.66% 22.31% 71.52% 28.48%
Real Estate (Operations & Services) 60 44.43% 27.09% 47.79% 52.21%
Recreation 57 42.13% 31.00% 65.76% 34.24%
Reinsurance 1 19.37% 14.70% 68.92% 31.08%
Restaurant/Dining 70 41.15% 33.57% 76.47% 23.53%
Retail (Automotive) 30 35.71% 25.68% 63.50% 36.50%
Retail (Building Supply) 15 37.55% 32.37% 82.50% 17.50%
Retail (Distributors) 69 37.08% 28.90% 71.65% 28.35%
Retail (General) 15 31.53% 27.39% 83.35% 16.65%
Retail (Grocery and Food) 13 28.26% 19.68% 60.31% 39.69%
Retail (Online) 63 59.41% 51.87% 83.91% 16.09%
Retail (Special Lines) 78 38.59% 30.14% 71.86% 28.14%
Rubber& Tires 3 39.79% 18.65% 23.24% 76.76%
Semiconductor 68 38.40% 35.32% 89.88% 10.12%
Semiconductor Equip 30 41.57% 38.09% 89.46% 10.54%
Shipbuilding & Marine 8 41.16% 32.17% 71.93% 28.07%
Shoe 13 39.37% 36.79% 91.73% 8.27%
Software (Entertainment) 91 58.71% 56.56% 95.42% 4.58%
Software (Internet) 33 55.24% 48.70% 84.99% 15.01%
Software (System & Application) 390 52.11% 48.57% 91.44% 8.56%
Steel 28 38.30% 31.62% 77.76% 22.24%
Telecom (Wireless) 16 51.92% 36.24% 60.55% 39.45%
Telecom. Equipment 79 41.35% 37.92% 89.54% 10.46%
Telecom. Services 49 55.37% 33.09% 45.93% 54.07%
Tobacco 15 44.06% 37.34% 80.61% 19.39%
Transportation 18 28.05% 23.04% 77.21% 22.79%
Transportation (Railroads) 4 16.34% 13.58% 78.46% 21.54%
Trucking 35 41.17% 31.42% 69.49% 30.51%
Utility (General) 15 14.97% 10.11% 57.41% 42.59%
Utility (Water) 16 27.96% 21.39% 69.74% 30.26%
Total Market 7165 41.37% 30.25% 65.14% 34.86%
Total Market (without financials) 5649 47.98% 40.11% 79.11% 20.89%

 

Last Updated in January 2023
By Aswath Damodaran