Standard Deviations by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2021

Download as an excel file instead: http://www.stern.nyu.edu/~adamodar/pc/datasets/optvar.xls

For global datasets: http://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 61 57.74% 38.57% 56.34% 43.66%
Aerospace/Defense 72 34.89% 28.12% 75.16% 24.84%
Air Transport 17 46.15% 25.36% 38.26% 61.74%
Apparel 51 47.84% 37.32% 71.74% 28.26%
Auto & Truck 19 45.24% 35.42% 72.12% 27.88%
Auto Parts 52 43.16% 36.52% 80.40% 19.60%
Bank (Money Center) 7 21.59% 11.04% 31.63% 68.37%
Banks (Regional) 598 19.48% 13.80% 62.02% 37.98%
Beverage (Alcoholic) 23 37.01% 31.49% 81.03% 18.97%
Beverage (Soft) 41 49.70% 42.74% 82.24% 17.76%
Broadcasting 29 45.56% 26.98% 45.10% 54.90%
Brokerage & Investment Banking 39 35.90% 18.30% 31.36% 68.64%
Building Materials 42 33.99% 28.44% 79.18% 20.82%
Business & Consumer Services 169 45.65% 38.54% 80.18% 19.82%
Cable TV 13 32.02% 23.56% 65.81% 34.19%
Chemical (Basic) 48 48.06% 34.90% 64.47% 35.53%
Chemical (Diversified) 5 36.16% 25.94% 63.25% 36.75%
Chemical (Specialty) 97 38.54% 32.42% 79.77% 20.23%
Coal & Related Energy 29 42.27% 26.79% 51.38% 48.62%
Computer Services 116 45.89% 35.74% 71.56% 28.44%
Computers/Peripherals 52 42.87% 39.95% 91.45% 8.55%
Construction Supplies 46 33.39% 26.67% 74.20% 25.80%
Diversified 29 29.94% 24.56% 77.08% 22.92%
Drugs (Biotechnology) 547 50.10% 44.78% 86.58% 13.42%
Drugs (Pharmaceutical) 287 55.45% 48.72% 84.62% 15.38%
Education 38 55.73% 47.15% 80.43% 19.57%
Electrical Equipment 122 55.12% 49.32% 86.69% 13.31%
Electronics (Consumer & Office) 22 54.91% 51.12% 91.32% 8.68%
Electronics (General) 157 43.87% 39.74% 88.12% 11.88%
Engineering/Construction 61 42.04% 34.78% 77.98% 22.02%
Entertainment 118 68.06% 60.96% 86.81% 13.19%
Environmental & Waste Services 86 50.43% 42.46% 79.87% 20.13%
Farming/Agriculture 32 45.30% 34.39% 68.94% 31.06%
Financial Svcs. (Non-bank & Insurance) 235 27.74% 11.63% 10.04% 89.96%
Food Processing 101 32.56% 26.24% 75.18% 24.82%
Food Wholesalers 18 58.03% 41.99% 64.10% 35.90%
Furn/Home Furnishings 40 40.52% 32.48% 74.59% 25.41%
Green & Renewable Energy 25 56.04% 39.27% 60.95% 39.05%
Healthcare Products 265 46.19% 42.65% 90.34% 9.66%
Healthcare Support Services 129 44.49% 36.11% 75.93% 24.07%
Heathcare Information and Technology 139 42.45% 38.82% 89.21% 10.79%
Homebuilding 30 36.56% 29.51% 75.34% 24.66%
Hospitals/Healthcare Facilities 32 49.21% 30.78% 50.15% 49.85%
Hotel/Gaming 66 43.69% 31.46% 63.60% 36.40%
Household Products 140 54.66% 49.06% 87.07% 12.93%
Information Services 77 42.37% 39.49% 91.44% 8.56%
Insurance (General) 21 30.12% 23.33% 71.02% 28.98%
Insurance (Life) 26 30.68% 18.24% 45.47% 54.53%
Insurance (Prop/Cas.) 55 22.93% 19.32% 79.96% 20.04%
Investments & Asset Management 348 28.85% 21.89% 68.86% 31.14%
Machinery 125 34.28% 29.84% 83.58% 16.42%
Metals & Mining 86 67.84% 57.56% 80.74% 19.26%
Office Equipment & Services 22 31.11% 23.32% 67.65% 32.35%
Oil/Gas (Integrated) 3 26.39% 20.12% 69.40% 30.60%
Oil/Gas (Production and Exploration) 278 56.28% 38.30% 58.11% 41.89%
Oil/Gas Distribution 57 40.78% 23.74% 43.54% 56.46%
Oilfield Svcs/Equip. 135 50.27% 33.59% 56.36% 43.64%
Packaging & Container 26 29.22% 21.22% 64.47% 35.53%
Paper/Forest Products 15 35.67% 28.09% 72.71% 27.29%
Power 55 19.86% 13.24% 56.15% 43.85%
Precious Metals 93 67.76% 61.71% 88.74% 11.26%
Publishing & Newspapers 29 37.47% 27.34% 64.93% 35.07%
R.E.I.T. 238 32.40% 21.70% 56.58% 43.42%
Real Estate (Development) 25 60.70% 38.46% 51.36% 48.64%
Real Estate (General/Diversified) 11 20.99% 17.27% 77.39% 22.61%
Real Estate (Operations & Services) 61 34.72% 26.90% 71.03% 28.97%
Recreation 69 56.40% 47.68% 80.32% 19.68%
Reinsurance 2 25.23% 19.77% 72.19% 27.81%
Restaurant/Dining 79 53.63% 43.07% 74.79% 25.21%
Retail (Automotive) 30 42.82% 31.83% 66.79% 33.21%
Retail (Building Supply) 15 40.60% 35.69% 84.69% 15.31%
Retail (Distributors) 85 41.97% 31.77% 68.62% 31.38%
Retail (General) 17 38.91% 33.52% 82.41% 17.59%
Retail (Grocery and Food) 14 37.72% 23.93% 51.46% 48.54%
Retail (Online) 75 52.87% 50.06% 93.33% 6.67%
Retail (Special Lines) 85 49.01% 36.67% 67.45% 32.55%
Rubber& Tires 3 43.83% 23.59% 36.38% 63.62%
Semiconductor 70 37.26% 34.64% 91.15% 8.85%
Semiconductor Equip 40 35.91% 33.78% 92.56% 7.44%
Shipbuilding & Marine 11 29.83% 21.06% 61.67% 38.33%
Shoe 11 31.50% 29.89% 93.57% 6.43%
Software (Entertainment) 101 62.61% 61.34% 97.45% 2.55%
Software (Internet) 36 32.73% 30.61% 91.89% 8.11%
Software (System & Application) 388 47.97% 45.62% 93.85% 6.15%
Steel 32 39.32% 29.16% 66.56% 33.44%
Telecom (Wireless) 16 39.78% 28.96% 64.70% 35.30%
Telecom. Equipment 96 43.11% 38.71% 87.11% 12.89%
Telecom. Services 58 43.53% 28.55% 54.60% 45.40%
Tobacco 15 24.49% 20.03% 76.74% 23.26%
Transportation 21 28.68% 23.28% 75.93% 24.07%
Transportation (Railroads) 6 16.83% 14.40% 81.61% 18.39%
Trucking 35 38.78% 31.14% 74.76% 25.24%
Utility (General) 16 18.44% 12.44% 57.24% 42.76%
Utility (Water) 17 35.96% 27.91% 71.19% 28.81%
Total Market 7582 41.21% 30.82% 67.42% 32.58%
Total Market (without financials) 6253 44.77% 37.71% 79.93% 20.07%

Last Updated in January 2021
By Aswath Damodaran