Standard
Deviations by Sector (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2025
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 | 54 | 67.19% | 56.24% | 79.24% | 20.76% |
| Aerospace/Defense | 67 | 42.74% | 36.50% | 81.44% | 18.56% |
| Air Transport | 24 | 65.27% | 40.04% | 48.35% | 51.65% |
| Apparel | 37 | 50.93% | 38.51% | 68.55% | 31.45% |
| Auto & Truck | 34 | 77.59% | 66.42% | 81.70% | 18.30% |
| Auto Parts | 33 | 52.62% | 39.45% | 67.64% | 32.36% |
| Bank (Money Center) | 15 | 30.47% | 16.21% | 35.31% | 64.69% |
| Banks (Regional) | 591 | 29.96% | 21.30% | 62.38% | 37.62% |
| Beverage (Alcoholic) | 18 | 63.08% | 51.55% | 76.65% | 23.35% |
| Beverage (Soft) | 29 | 47.67% | 41.47% | 83.52% | 16.48% |
| Broadcasting | 22 | 52.60% | 29.48% | 40.07% | 59.93% |
| Brokerage & Investment Banking | 30 | 40.49% | 21.44% | 34.89% | 65.11% |
| Building Materials | 39 | 34.75% | 30.38% | 84.05% | 15.95% |
| Business & Consumer Services | 152 | 45.39% | 40.24% | 85.63% | 14.37% |
| Cable TV | 9 | 49.73% | 29.16% | 44.18% | 55.82% |
| Chemical (Basic) | 31 | 50.02% | 35.86% | 63.19% | 36.81% |
| Chemical (Diversified) | 4 | 46.97% | 28.37% | 46.92% | 53.08% |
| Chemical (Specialty) | 60 | 48.15% | 40.09% | 78.66% | 21.34% |
| Coal & Related Energy | 16 | 53.78% | 50.08% | 91.35% | 8.65% |
| Computer Services | 63 | 44.40% | 37.13% | 79.16% | 20.84% |
| Computers/Peripherals | 35 | 52.62% | 50.69% | 95.40% | 4.60% |
| Construction Supplies | 46 | 47.52% | 40.88% | 82.26% | 17.74% |
| Diversified | 21 | 59.35% | 52.85% | 86.14% | 13.86% |
| Drugs (Biotechnology) | 535 | 86.83% | 76.81% | 85.40% | 14.60% |
| Drugs (Pharmaceutical) | 231 | 80.05% | 70.91% | 85.55% | 14.45% |
| Education | 29 | 55.82% | 48.65% | 83.72% | 16.28% |
| Electrical Equipment | 101 | 72.12% | 64.74% | 87.07% | 12.93% |
| Electronics (Consumer & Office) | 11 | 73.20% | 66.39% | 88.25% | 11.75% |
| Electronics (General) | 122 | 61.61% | 55.46% | 87.40% | 12.60% |
| Engineering/Construction | 42 | 47.33% | 41.65% | 84.80% | 15.20% |
| Entertainment | 96 | 62.70% | 54.35% | 83.10% | 16.90% |
| Environmental & Waste Services | 50 | 54.48% | 47.52% | 83.81% | 16.19% |
| Farming/Agriculture | 35 | 69.59% | 50.92% | 65.22% | 34.78% |
| Financial Svcs. (Non-bank & Insurance) | 166 | 41.96% | 20.19% | 25.86% | 74.14% |
| Food Processing | 77 | 46.27% | 36.62% | 73.25% | 26.75% |
| Food Wholesalers | 14 | 39.17% | 29.98% | 69.79% | 30.21% |
| Furn/Home Furnishings | 28 | 54.80% | 42.22% | 70.46% | 29.54% |
| Green & Renewable Energy | 18 | 71.93% | 38.64% | 36.21% | 63.79% |
| Healthcare Products | 218 | 67.41% | 61.35% | 88.66% | 11.34% |
| Healthcare Support Services | 113 | 54.00% | 43.71% | 75.64% | 24.36% |
| Heathcare Information and Technology | 116 | 64.54% | 57.43% | 86.06% | 13.94% |
| Homebuilding | 30 | 41.43% | 36.56% | 85.11% | 14.89% |
| Hospitals/Healthcare Facilities | 33 | 50.81% | 33.98% | 56.45% | 43.55% |
| Hotel/Gaming | 65 | 45.10% | 34.53% | 69.83% | 30.17% |
| Household Products | 101 | 56.67% | 50.75% | 86.79% | 13.21% |
| Information Services | 16 | 39.66% | 31.57% | 73.87% | 26.13% |
| Insurance (General) | 22 | 51.01% | 45.05% | 85.21% | 14.79% |
| Insurance (Life) | 19 | 34.31% | 24.17% | 61.45% | 38.55% |
| Insurance (Prop/Cas.) | 53 | 33.69% | 30.12% | 86.61% | 13.39% |
| Investments & Asset Management | 231 | 22.94% | 18.30% | 74.05% | 25.95% |
| Machinery | 109 | 46.07% | 41.13% | 86.43% | 13.57% |
| Metals & Mining | 64 | 72.37% | 64.16% | 85.65% | 14.35% |
| Office Equipment & Services | 14 | 49.89% | 37.62% | 68.26% | 31.74% |
| Oil/Gas (Integrated) | 4 | 25.56% | 23.12% | 87.94% | 12.06% |
| Oil/Gas (Production and Exploration) | 147 | 47.66% | 39.79% | 78.96% | 21.04% |
| Oil/Gas Distribution | 24 | 38.17% | 28.15% | 65.99% | 34.01% |
| Oilfield Svcs/Equip. | 97 | 49.49% | 38.77% | 72.19% | 27.81% |
| Packaging & Container | 22 | 33.98% | 24.91% | 65.40% | 34.60% |
| Paper/Forest Products | 6 | 60.66% | 51.87% | 81.59% | 18.41% |
| Power | 48 | 27.31% | 18.08% | 55.45% | 44.55% |
| Precious Metals | 60 | 70.97% | 62.07% | 84.11% | 15.89% |
| Publishing & Newspapers | 19 | 41.00% | 33.84% | 77.70% | 22.30% |
| R.E.I.T. | 192 | 32.08% | 21.02% | 54.50% | 45.50% |
| Real Estate (Development) | 15 | 49.68% | 30.33% | 47.91% | 52.09% |
| Real Estate (General/Diversified) | 11 | 26.53% | 20.44% | 70.45% | 29.55% |
| Real Estate (Operations & Services) | 60 | 56.53% | 46.63% | 77.65% | 22.35% |
| Recreation | 50 | 53.06% | 37.04% | 60.57% | 39.43% |
| Reinsurance | 1 | 19.87% | 15.72% | 73.22% | 26.78% |
| Restaurant/Dining | 62 | 41.50% | 35.37% | 81.21% | 18.79% |
| Retail (Automotive) | 29 | 47.39% | 35.12% | 66.49% | 33.51% |
| Retail (Building Supply) | 13 | 52.13% | 45.22% | 83.20% | 16.80% |
| Retail (Distributors) | 66 | 43.89% | 35.71% | 76.18% | 23.82% |
| Retail (General) | 24 | 46.69% | 43.71% | 91.97% | 8.03% |
| Retail (Grocery and Food) | 17 | 27.13% | 19.94% | 65.68% | 34.32% |
| Retail (REITs) | 28 | 23.56% | 17.13% | 64.61% | 35.39% |
| Retail (Special Lines) | 98 | 57.00% | 46.97% | 77.56% | 22.44% |
| Rubber& Tires | 3 | 72.04% | 32.89% | 20.53% | 79.47% |
| Semiconductor | 63 | 56.05% | 54.37% | 96.25% | 3.75% |
| Semiconductor Equip | 30 | 51.09% | 48.02% | 92.44% | 7.56% |
| Shipbuilding & Marine | 8 | 45.19% | 39.47% | 83.95% | 16.05% |
| Shoe | 12 | 51.75% | 47.93% | 90.71% | 9.29% |
| Software (Entertainment) | 81 | 66.63% | 65.34% | 97.57% | 2.43% |
| Software (Internet) | 29 | 55.62% | 51.05% | 89.65% | 10.35% |
| Software (System & Application) | 333 | 63.63% | 61.26% | 95.33% | 4.67% |
| Steel | 27 | 46.79% | 39.23% | 79.43% | 20.57% |
| Telecom (Wireless) | 11 | 66.73% | 50.07% | 67.75% | 32.25% |
| Telecom. Equipment | 61 | 56.09% | 51.05% | 88.65% | 11.35% |
| Telecom. Services | 32 | 63.71% | 39.77% | 49.96% | 50.04% |
| Tobacco | 12 | 68.34% | 56.63% | 78.15% | 21.85% |
| Transportation | 21 | 51.68% | 40.45% | 72.09% | 27.91% |
| Transportation (Railroads) | 4 | 26.56% | 21.96% | 77.89% | 22.11% |
| Trucking | 24 | 32.18% | 27.46% | 81.36% | 18.64% |
| Utility (General) | 14 | 18.21% | 12.15% | 56.16% | 43.84% |
| Utility (Water) | 15 | 29.17% | 20.88% | 63.04% | 36.96% |
| Total Market | 6062 | 52.53% | 41.02% | 71.85% | 28.15% |
| Total Market (without financials) | 4935 | 57.40% | 50.07% | 83.83% | 16.17% |
Last Updated in January 2025
By Aswath Damodaran