Standard Deviations by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2022

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 49 56.70% 41.82% 66.02% 33.98%
Aerospace/Defense 73 38.23% 31.42% 77.25% 22.75%
Air Transport 21 40.19% 22.38% 39.47% 60.53%
Apparel 39 43.49% 35.32% 75.99% 24.01%
Auto & Truck 26 54.78% 47.62% 83.43% 16.57%
Auto Parts 38 37.14% 30.15% 75.94% 24.06%
Bank (Money Center) 7 22.23% 12.04% 36.98% 63.02%
Banks (Regional) 563 19.68% 15.73% 74.31% 25.69%
Beverage (Alcoholic) 21 37.87% 32.60% 82.36% 17.64%
Beverage (Soft) 32 48.27% 42.82% 85.73% 14.27%
Broadcasting 28 48.77% 29.20% 46.12% 53.88%
Brokerage & Investment Banking 31 31.74% 16.90% 35.40% 64.60%
Building Materials 44 34.54% 30.23% 84.21% 15.79%
Business & Consumer Services 160 41.17% 35.24% 81.71% 18.29%
Cable TV 11 20.07% 14.28% 62.46% 37.54%
Chemical (Basic) 35 45.02% 34.22% 69.08% 30.92%
Chemical (Diversified) 4 37.29% 28.01% 67.84% 32.16%
Chemical (Specialty) 81 40.72% 35.49% 83.70% 16.30%
Coal & Related Energy 18 58.57% 45.19% 70.60% 29.40%
Computer Services 83 48.44% 40.38% 78.78% 21.22%
Computers/Peripherals 46 51.27% 48.40% 92.96% 7.04%
Construction Supplies 48 40.01% 33.16% 78.16% 21.84%
Diversified 22 30.11% 25.74% 81.55% 18.45%
Drugs (Biotechnology) 581 50.80% 45.47% 86.73% 13.27%
Drugs (Pharmaceutical) 298 56.17% 50.47% 87.19% 12.81%
Education 35 41.50% 34.84% 79.55% 20.45%
Electrical Equipment 104 57.66% 52.16% 87.96% 12.04%
Electronics (Consumer & Office) 16 52.54% 49.58% 92.92% 7.08%
Electronics (General) 137 43.45% 39.55% 88.69% 11.31%
Engineering/Construction 48 36.36% 30.54% 79.62% 20.38%
Entertainment 108 59.63% 53.39% 86.78% 13.22%
Environmental & Waste Services 58 43.01% 37.16% 82.74% 17.26%
Farming/Agriculture 36 46.45% 36.70% 73.09% 26.91%
Financial Svcs. (Non-bank & Insurance) 223 28.52% 12.13% 12.10% 87.90%
Food Processing 92 27.69% 22.62% 76.62% 23.38%
Food Wholesalers 15 54.01% 40.65% 68.06% 31.94%
Furn/Home Furnishings 32 44.77% 36.96% 77.73% 22.27%
Green & Renewable Energy 20 81.76% 56.74% 60.01% 39.99%
Healthcare Products 244 43.81% 41.05% 92.07% 7.93%
Healthcare Support Services 131 46.86% 39.60% 80.29% 19.71%
Heathcare Information and Technology 142 46.28% 43.03% 91.14% 8.86%
Homebuilding 29 39.47% 33.88% 81.99% 18.01%
Hospitals/Healthcare Facilities 31 52.31% 35.74% 58.49% 41.51%
Hotel/Gaming 66 43.87% 33.16% 68.49% 31.51%
Household Products 118 58.57% 53.38% 88.82% 11.18%
Information Services 79 46.44% 42.98% 90.60% 9.40%
Insurance (General) 23 37.15% 31.02% 78.96% 21.04%
Insurance (Life) 24 31.81% 20.28% 51.92% 48.08%
Insurance (Prop/Cas.) 52 29.24% 24.87% 80.99% 19.01%
Investments & Asset Management 687 31.97% 26.50% 78.17% 21.83%
Machinery 111 34.75% 31.35% 87.63% 12.37%
Metals & Mining 74 68.08% 59.81% 84.62% 15.38%
Office Equipment & Services 18 31.01% 23.20% 67.45% 32.55%
Oil/Gas (Integrated) 4 28.71% 23.96% 78.91% 21.09%
Oil/Gas (Production and Exploration) 183 55.48% 45.17% 76.26% 23.74%
Oil/Gas Distribution 21 44.98% 29.14% 53.43% 46.57%
Oilfield Svcs/Equip. 100 49.63% 36.20% 64.88% 35.12%
Packaging & Container 26 26.38% 19.61% 66.81% 33.19%
Paper/Forest Products 11 30.61% 23.65% 70.76% 29.24%
Power 50 19.49% 13.29% 58.30% 41.70%
Precious Metals 76 56.29% 51.50% 89.28% 10.72%
Publishing & Newspapers 21 30.80% 24.34% 73.10% 26.90%
R.E.I.T. 238 32.65% 23.84% 65.02% 34.98%
Real Estate (Development) 19 51.32% 34.01% 55.57% 44.43%
Real Estate (General/Diversified) 10 30.70% 25.66% 79.11% 20.89%
Real Estate (Operations & Services) 51 41.43% 29.93% 63.95% 36.05%
Recreation 60 50.35% 41.35% 77.17% 22.83%
Reinsurance 2 25.95% 20.29% 72.02% 27.98%
Restaurant/Dining 70 42.76% 35.55% 78.53% 21.47%
Retail (Automotive) 32 44.49% 34.84% 72.15% 27.85%
Retail (Building Supply) 16 44.73% 40.54% 88.15% 11.85%
Retail (Distributors) 68 43.10% 34.86% 75.54% 24.46%
Retail (General) 16 33.88% 30.18% 86.17% 13.83%
Retail (Grocery and Food) 15 34.27% 23.64% 59.44% 40.56%
Retail (Online) 60 58.82% 55.29% 92.46% 7.54%
Retail (Special Lines) 76 45.57% 36.40% 74.21% 25.79%
Rubber& Tires 2 47.06% 26.14% 39.28% 60.72%
Semiconductor 67 37.46% 35.56% 93.65% 6.35%
Semiconductor Equip 34 33.22% 31.95% 95.20% 4.80%
Shipbuilding & Marine 8 51.04% 40.10% 72.48% 27.52%
Shoe 12 34.71% 33.20% 94.54% 5.46%
Software (Entertainment) 88 54.61% 53.73% 98.00% 2.00%
Software (Internet) 36 38.09% 35.93% 92.87% 7.13%
Software (System & Application) 375 45.74% 43.78% 94.63% 5.37%
Steel 28 33.13% 26.72% 75.26% 24.74%
Telecom (Wireless) 17 48.16% 32.09% 56.08% 43.92%
Telecom. Equipment 82 40.53% 37.94% 91.97% 8.03%
Telecom. Services 42 38.67% 24.12% 49.88% 50.12%
Tobacco 16 24.88% 20.85% 79.38% 20.62%
Transportation 17 28.34% 24.18% 81.37% 18.63%
Transportation (Railroads) 4 16.39% 14.25% 83.38% 16.62%
Trucking 34 32.99% 27.61% 79.20% 20.80%
Utility (General) 16 18.83% 12.94% 59.10% 40.90%
Utility (Water) 14 27.09% 21.69% 74.44% 25.56%
Total Market 7229 41.01% 31.88% 71.38% 28.62%
Total Market (without financials) 5619 44.99% 39.08% 83.34% 16.66%

 

Last Updated in January 2022
By Aswath Damodaran