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