Regression Statistics By Industry (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2026
Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/indreg.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 | Annualized Jensen's Alpha (Last 5 years) | Beta | Correlation with the market |
| Advertising | 52 | -12.92% | 1.21 | 21.00% |
| Aerospace/Defense | 79 | 11.32% | 0.95 | 31.79% |
| Air Transport | 23 | 1.26% | 1.19 | 29.16% |
| Apparel | 35 | -9.83% | 0.94 | 26.60% |
| Auto & Truck | 33 | -12.00% | 1.46 | 18.49% |
| Auto Parts | 35 | -8.95% | 1.34 | 28.18% |
| Bank (Money Center) | 15 | 10.52% | 0.76 | 43.40% |
| Banks (Regional) | 568 | 5.44% | 0.40 | 24.85% |
| Beverage (Alcoholic) | 14 | 7.60% | 0.81 | 16.23% |
| Beverage (Soft) | 27 | 2.43% | 0.64 | 11.80% |
| Broadcasting | 24 | -11.19% | 0.47 | 14.44% |
| Brokerage & Investment Banking | 32 | 9.52% | 1.17 | 46.66% |
| Building Materials | 41 | 4.34% | 1.11 | 39.00% |
| Business & Consumer Services | 155 | -0.28% | 0.89 | 24.92% |
| Cable TV | 9 | -4.53% | 0.74 | 21.90% |
| Chemical (Basic) | 29 | -6.81% | 1.01 | 26.99% |
| Chemical (Diversified) | 4 | -1.81% | 0.85 | 36.40% |
| Chemical (Specialty) | 59 | -2.03% | 0.97 | 31.73% |
| Coal & Related Energy | 16 | 26.02% | 1.07 | 26.79% |
| Computer Services | 64 | 2.78% | 1.09 | 25.57% |
| Computers/Peripherals | 36 | 2.42% | 1.35 | 32.96% |
| Construction Supplies | 40 | 9.37% | 1.15 | 37.10% |
| Diversified | 20 | -16.22% | 0.88 | 23.88% |
| Drugs (Biotechnology) | 496 | -8.40% | 1.14 | 20.68% |
| Drugs (Pharmaceutical) | 228 | -6.20% | 0.98 | 17.10% |
| Education | 32 | 8.09% | 0.78 | 24.48% |
| Electrical Equipment | 112 | -1.19% | 1.25 | 24.70% |
| Electronics (Consumer & Office) | 8 | -16.11% | 0.87 | 19.00% |
| Electronics (General) | 114 | 1.72% | 0.97 | 29.97% |
| Engineering/Construction | 48 | 17.30% | 1.21 | 40.25% |
| Entertainment | 92 | -1.99% | 0.83 | 20.13% |
| Environmental & Waste Services | 53 | -8.03% | 0.95 | 17.55% |
| Farming/Agriculture | 35 | -8.59% | 1.13 | 23.75% |
| Financial Svcs. (Non-bank & Insurance | 176 | 1.38% | 0.97 | 27.86% |
| Food Processing | 78 | -1.75% | 0.61 | 12.50% |
| Food Wholesalers | 13 | 13.24% | 0.87 | 22.09% |
| Furn/Home Furnishings | 27 | -7.06% | 0.82 | 23.83% |
| Green & Renewable Energy | 15 | -14.06% | 0.86 | 18.07% |
| Healthcare Products | 204 | -7.86% | 0.91 | 21.22% |
| Healthcare Support Services | 104 | -4.37% | 0.87 | 17.27% |
| Heathcare Information and Technology | 115 | -10.77% | 1.11 | 24.73% |
| Homebuilding | 30 | 6.46% | 0.91 | 27.97% |
| Hospitals/Healthcare Facilities | 31 | 5.91% | 0.80 | 19.70% |
| Hotel/Gaming | 63 | -0.64% | 1.08 | 30.17% |
| Household Products | 110 | 2.49% | 0.82 | 14.40% |
| Information Services | 15 | -1.91% | 0.92 | 26.22% |
| Insurance (General) | 21 | -5.11% | 0.67 | 18.50% |
| Insurance (Life) | 20 | 4.41% | 0.64 | 33.07% |
| Insurance (Prop/Cas.) | 57 | 6.80% | 0.48 | 21.73% |
| Investments & Asset Management | 283 | -0.08% | 0.66 | 26.14% |
| Machinery | 105 | 7.27% | 0.96 | 36.31% |
| Metals & Mining | 73 | 5.69% | 1.04 | 15.65% |
| Office Equipment & Services | 14 | 5.45% | 1.33 | 31.74% |
| Oil/Gas (Integrated) | 4 | 14.11% | 0.30 | 20.84% |
| Oil/Gas (Production and Exploration) | 142 | 7.17% | 0.72 | 18.81% |
| Oil/Gas Distribution | 23 | 7.61% | 0.67 | 26.65% |
| Oilfield Svcs/Equip. | 97 | 13.13% | 0.95 | 27.26% |
| Packaging & Container | 19 | -4.99% | 1.02 | 34.63% |
| Paper/Forest Products | 6 | -8.18% | 0.96 | 29.14% |
| Power | 46 | 7.82% | 0.48 | 17.79% |
| Precious Metals | 56 | 5.50% | 0.84 | 14.03% |
| Publishing & Newspapers | 19 | 3.26% | 0.56 | 25.20% |
| R.E.I.T. | 190 | -5.28% | 0.64 | 28.88% |
| Real Estate (Development) | 14 | 6.82% | 0.84 | 17.74% |
| Real Estate (General/Diversified) | 12 | -4.18% | 0.81 | 17.16% |
| Real Estate (Operations & Services) | 54 | -5.75% | 0.97 | 22.78% |
| Recreation | 49 | -7.36% | 1.02 | 27.89% |
| Reinsurance | 1 | 9.88% | 0.58 | 43.47% |
| Restaurant/Dining | 64 | -4.69% | 0.92 | 24.03% |
| Retail (Automotive) | 34 | -2.15% | 0.94 | 27.78% |
| Retail (Building Supply) | 14 | -8.74% | 1.54 | 43.66% |
| Retail (Distributors) | 62 | 9.99% | 0.95 | 32.33% |
| Retail (General) | 23 | 4.74% | 0.81 | 28.27% |
| Retail (Grocery and Food) | 15 | 2.72% | 1.12 | 17.43% |
| Retail (REITs) | 26 | 2.05% | 0.62 | 30.70% |
| Retail (Special Lines) | 94 | -0.49% | 1.09 | 24.88% |
| Rubber& Tires | 3 | -3.51% | 0.53 | 20.11% |
| Semiconductor | 66 | 4.11% | 1.52 | 42.31% |
| Semiconductor Equip | 31 | 8.33% | 1.40 | 45.06% |
| Shipbuilding & Marine | 8 | 4.57% | 0.75 | 39.59% |
| Shoe | 11 | -0.14% | 1.02 | 27.98% |
| Software (Entertainment) | 77 | -10.38% | 1.03 | 23.47% |
| Software (Internet) | 29 | 1.75% | 1.69 | 30.40% |
| Software (System & Application) | 309 | -6.27% | 1.28 | 26.89% |
| Steel | 19 | 20.87% | 1.06 | 40.88% |
| Telecom (Wireless) | 12 | -7.00% | 0.54 | 16.81% |
| Telecom. Equipment | 57 | 2.30% | 0.92 | 26.65% |
| Telecom. Services | 39 | 6.14% | 0.63 | 11.98% |
| Tobacco | 10 | -1.40% | 0.79 | 13.15% |
| Transportation | 19 | -1.75% | 0.86 | 32.27% |
| Transportation (Railroads) | 4 | -0.91% | 0.98 | 50.27% |
| Trucking | 26 | -0.37% | 1.01 | 36.24% |
| Utility (General) | 14 | 3.65% | 0.24 | 15.31% |
| Utility (Water) | 14 | -8.22% | 0.41 | 14.88% |
| Total Market | 5994 | 0.31% | 0.91 | 24.91% |
| Total Market (without financials) | 4822 | -0.54% | 0.99 | 24.56% |
Last Updated in January 2026
By Aswath Damodaran