Standard
Deviations by Sector (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2024
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 | 57 | 56.41% | 45.29% | 74.76% | 25.24% |
| Aerospace/Defense | 70 | 36.40% | 30.60% | 79.71% | 20.29% |
| Air Transport | 25 | 44.65% | 24.50% | 38.15% | 61.85% |
| Apparel | 38 | 37.04% | 27.65% | 67.22% | 32.78% |
| Auto & Truck | 34 | 59.70% | 48.64% | 76.32% | 23.68% |
| Auto Parts | 39 | 37.07% | 29.06% | 72.23% | 27.77% |
| Bank (Money Center) | 15 | 22.51% | 11.51% | 31.63% | 68.37% |
| Banks (Regional) | 625 | 18.68% | 11.60% | 49.52% | 50.48% |
| Beverage (Alcoholic) | 19 | 49.70% | 42.02% | 80.34% | 19.66% |
| Beverage (Soft) | 29 | 42.96% | 38.00% | 85.38% | 14.62% |
| Broadcasting | 22 | 38.46% | 20.65% | 36.18% | 63.82% |
| Brokerage & Investment Banking | 27 | 25.21% | 12.76% | 30.67% | 69.33% |
| Building Materials | 44 | 28.72% | 25.23% | 84.64% | 15.36% |
| Business & Consumer Services | 162 | 41.29% | 36.33% | 84.79% | 15.21% |
| Cable TV | 10 | 33.01% | 20.52% | 49.57% | 50.43% |
| Chemical (Basic) | 32 | 38.92% | 29.47% | 68.65% | 31.35% |
| Chemical (Diversified) | 4 | 37.24% | 25.58% | 58.99% | 41.01% |
| Chemical (Specialty) | 68 | 36.60% | 30.53% | 78.85% | 21.15% |
| Coal & Related Energy | 18 | 55.69% | 47.63% | 81.60% | 18.40% |
| Computer Services | 72 | 49.61% | 40.84% | 77.43% | 22.57% |
| Computers/Peripherals | 36 | 38.90% | 37.12% | 94.26% | 5.74% |
| Construction Supplies | 45 | 37.83% | 31.94% | 80.19% | 19.81% |
| Diversified | 23 | 52.25% | 45.62% | 83.93% | 16.07% |
| Drugs (Biotechnology) | 572 | 61.98% | 55.08% | 85.92% | 14.08% |
| Drugs (Pharmaceutical) | 245 | 65.30% | 58.16% | 86.17% | 13.83% |
| Education | 31 | 43.78% | 38.12% | 83.62% | 16.38% |
| Electrical Equipment | 103 | 54.42% | 46.87% | 82.38% | 17.62% |
| Electronics (Consumer & Office) | 13 | 39.42% | 34.60% | 84.51% | 15.49% |
| Electronics (General) | 129 | 42.94% | 37.96% | 85.33% | 14.67% |
| Engineering/Construction | 43 | 33.68% | 28.19% | 79.24% | 20.76% |
| Entertainment | 98 | 61.19% | 50.48% | 77.67% | 22.33% |
| Environmental & Waste Services | 57 | 46.07% | 39.54% | 82.00% | 18.00% |
| Farming/Agriculture | 42 | 54.14% | 41.05% | 68.82% | 31.18% |
| Financial Svcs. (Non-bank & Insurance) | 172 | 38.66% | 17.91% | 22.02% | 77.98% |
| Food Processing | 82 | 36.51% | 29.32% | 74.79% | 25.21% |
| Food Wholesalers | 14 | 27.30% | 20.77% | 69.14% | 30.86% |
| Furn/Home Furnishings | 31 | 46.65% | 35.01% | 67.77% | 32.23% |
| Green & Renewable Energy | 17 | 57.34% | 32.61% | 41.42% | 58.58% |
| Healthcare Products | 230 | 52.21% | 47.55% | 88.76% | 11.24% |
| Healthcare Support Services | 119 | 49.53% | 41.30% | 78.82% | 21.18% |
| Heathcare Information and Technology | 128 | 54.15% | 48.23% | 86.15% | 13.85% |
| Homebuilding | 32 | 32.31% | 28.71% | 85.90% | 14.10% |
| Hospitals/Healthcare Facilities | 32 | 46.33% | 30.72% | 55.63% | 44.37% |
| Hotel/Gaming | 68 | 40.80% | 30.47% | 67.26% | 32.74% |
| Household Products | 93 | 51.12% | 45.38% | 85.80% | 14.20% |
| Information Services | 18 | 33.83% | 26.89% | 73.71% | 26.29% |
| Insurance (General) | 21 | 40.38% | 33.85% | 79.41% | 20.59% |
| Insurance (Life) | 23 | 30.85% | 19.69% | 52.02% | 47.98% |
| Insurance (Prop/Cas.) | 50 | 27.40% | 23.89% | 83.76% | 16.24% |
| Investments & Asset Management | 334 | 15.15% | 11.76% | 71.26% | 28.74% |
| Machinery | 103 | 33.44% | 29.63% | 85.57% | 14.43% |
| Metals & Mining | 68 | 60.56% | 54.02% | 86.34% | 13.66% |
| Office Equipment & Services | 17 | 30.28% | 22.23% | 65.54% | 34.46% |
| Oil/Gas (Integrated) | 4 | 26.44% | 24.12% | 88.89% | 11.11% |
| Oil/Gas (Production and Exploration) | 166 | 46.31% | 39.43% | 81.12% | 18.88% |
| Oil/Gas Distribution | 24 | 32.55% | 22.30% | 58.75% | 41.25% |
| Oilfield Svcs/Equip. | 100 | 43.73% | 35.41% | 75.68% | 24.32% |
| Packaging & Container | 22 | 26.24% | 18.59% | 62.01% | 37.99% |
| Paper/Forest Products | 7 | 43.04% | 33.91% | 72.80% | 27.20% |
| Power | 50 | 20.39% | 12.99% | 51.83% | 48.17% |
| Precious Metals | 61 | 63.61% | 56.97% | 86.80% | 13.20% |
| Publishing & Newspapers | 21 | 38.20% | 30.88% | 75.49% | 24.51% |
| R.E.I.T. | 193 | 23.72% | 15.76% | 55.85% | 44.15% |
| Real Estate (Development) | 17 | 34.24% | 21.73% | 51.52% | 48.48% |
| Real Estate (General/Diversified) | 11 | 35.91% | 29.12% | 75.83% | 24.17% |
| Real Estate (Operations & Services) | 60 | 44.19% | 33.63% | 69.17% | 30.83% |
| Recreation | 55 | 44.30% | 31.72% | 63.06% | 36.94% |
| Reinsurance | 1 | 17.09% | 13.13% | 70.16% | 29.84% |
| Restaurant/Dining | 64 | 35.37% | 29.69% | 79.54% | 20.46% |
| Retail (Automotive) | 30 | 46.79% | 33.65% | 63.49% | 36.51% |
| Retail (Building Supply) | 16 | 45.21% | 39.29% | 83.39% | 16.61% |
| Retail (Distributors) | 62 | 37.74% | 30.53% | 75.59% | 24.41% |
| Retail (General) | 26 | 38.28% | 34.69% | 88.16% | 11.84% |
| Retail (Grocery and Food) | 14 | 25.65% | 18.57% | 64.17% | 35.83% |
| Retail (REITs) | 28 | 20.72% | 14.82% | 62.96% | 37.04% |
| Retail (Special Lines) | 105 | 44.01% | 34.90% | 73.45% | 26.55% |
| Rubber& Tires | 3 | 40.77% | 20.45% | 29.83% | 70.17% |
| Semiconductor | 63 | 41.47% | 39.59% | 94.30% | 5.70% |
| Semiconductor Equip | 30 | 37.04% | 34.91% | 92.78% | 7.22% |
| Shipbuilding & Marine | 8 | 45.07% | 36.98% | 77.06% | 22.94% |
| Shoe | 13 | 36.28% | 33.97% | 91.99% | 8.01% |
| Software (Entertainment) | 84 | 52.79% | 51.50% | 96.94% | 3.06% |
| Software (Internet) | 35 | 65.22% | 59.69% | 89.30% | 10.70% |
| Software (System & Application) | 351 | 52.09% | 49.66% | 94.16% | 5.84% |
| Steel | 29 | 38.10% | 33.06% | 83.21% | 16.79% |
| Telecom (Wireless) | 13 | 60.31% | 42.25% | 60.92% | 39.08% |
| Telecom. Equipment | 66 | 46.62% | 42.83% | 89.75% | 10.25% |
| Telecom. Services | 42 | 50.42% | 29.65% | 44.46% | 55.54% |
| Tobacco | 16 | 48.00% | 38.31% | 74.13% | 25.87% |
| Transportation | 36 | 53.12% | 42.69% | 74.86% | 25.14% |
| Transportation (Railroads) | 4 | 22.28% | 18.58% | 78.86% | 21.14% |
| Trucking | 22 | 28.33% | 24.61% | 83.37% | 16.63% |
| Utility (General) | 14 | 14.93% | 9.74% | 54.10% | 45.90% |
| Utility (Water) | 13 | 28.20% | 20.85% | 66.27% | 33.73% |
| Total Market | 6481 | 42.03% | 31.71% | 68.30% | 31.70% |
| Total Market (without financials) | 5214 | 47.00% | 40.18% | 81.57% | 18.43% |
Last Updated in January 2024
By Aswath Damodaran