| 1981-87 | 1981 | 1982 | 1983 | 1984 | 1985 | 1996 | 1987 | |
|---|---|---|---|---|---|---|---|---|
| Capital Goods | 66.51 | -16.01 | 15.00 | 23.35 | -4.15 | 24.81 | 5.35 | 10.89 |
| Brokerage Firms | 61.57 | 27.39 | 58.17 | 6.69 | -11.79 | 24.35 | 10.17 | -37.80 |
| Gaming Companies | 60.08 | -6.48 | -8.60 | 22.03 | -5.54 | 40.52 | 11.63 | 3.59 |
| New York City Banks | 60.03 | 7.41 | 20.44 | 1.85 | 10.17 | 34.55 | 15.65 | -29.15 |
| International Integrated Oil | 57.54 | -25.23 | -8.31 | 23.10 | 12.11 | 16.36 | 34.46 | 6.44 |
| REIT | 54.91 | 17.41 | 31.94 | 6.63 | 7.30 | -0.25 | 24.75 | -29.76 |
| Savings & Loans | 54.67 | -24.59 | 81.31 | 3.49 | -22.36 | 46.08 | 33.32 | -27.70 |
| Conglomerates | 53.33 | -13.20 | -6.13 | 39.11 | -7.53 | 25.42 | 17.54 | -0.77 |
| Auto & Truck Parts | 43.39 | 3.56 | 27.82 | 51.00 | -17.36 | 0.61 | -7.15 | -7.06 |
| Metals/Miscellaneous | 40.77 | 3.68 | -4.40 | 22.93 | -25.00 | -9.50 | -1.90 | 73.49 |
| Aluminum | 39.23 | -26.48 | 20.25 | 39.79 | -22.29 | 4.88 | -6.73 | 48.21 |
| Railroads | 38.71 | -17.20 | -2.91 | 32.89 | -8.82 | 34.40 | -2.88 | 9.09 |
| Forest Products | 35.26 | -15.47 | 26.05 | -3.14 | -11.21 | 7.34 | 32.93 | 3.44 |
| Bond Funds | 27.27 | -3.99 | 21.52 | -0.94 | 0.83 | 16.43 | 8.53 | -13.56 |
| Air Freight | 25.60 | 8.90 | 11.95 | 24.60 | -24.63 | 51.51 | 6.76 | -32.18 |
| Aerospace | 21.41 | -36.15 | 35.36 | 31.50 | 5.98 | 16.18 | 9.13 | -20.50 |
| Natural Gas Prod. & Devel. | 18.18 | -19.62 | -12.60 | 27.37 | 3.08 | 32.40 | 3.36 | -6.37 |
| Gold Mining | 13.06 | -26.61 | 41.32 | -5.90 | -29.38 | 5.91 | -0.50 | 55.68 |
| Hospital Management | 12.81 | -3.71 | 64.65 | -12.46 | 4.82 | 1.18 | -22.42 | -1.22 |
| Domestic Integrated Oil | 5.90 | -23.93 | -18.93 | 24.11 | 12.48 | 13.47 | 0.65 | 7.69 |
| Machinery | 3.49 | -13.64 | -25.09 | 19.43 | -12.92 | 14.16 | -0.21 | 35.03 |
| Toys | -8.99 | -17.63 | 26.32 | -20.95 | 42.80 | 30.88 | -7.59 | -35.93 |
| Steel | -10.50 | -5.22 | -25.91 | 42.41 | -26.93 | -5.01 | -17.87 | 56.99 |
| Investment/Composite | -23.29 | -15.84 | 19.22 | 2.82 | -17.89 | 10.97 | 11.03 | -26.50 |
| Machine Tools | -24.17 | -17.38 | 11.68 | 35.67 | -32.25 | -6.06 | -5.40 | 0.61 |
| Home Building | -28.24 | -43.78 | 70.52 | -0.97 | -10.26 | -5.06 | 22.97 | -27.85 |
| Regional Banks | -29.40 | -8.59 | -7.18 | 10.53 | -15.49 | 11.94 | 1.87 | -21.89 |
| Coal | -33.41 | -9.19 | -30.43 | 15.09 | -8.73 | 8.93 | 7.30 | -14.15 |
| Oil Well Equip & Leasing | -64.43 | -29.76 | -29.05 | 8.64 | -25.87 | -5.16 | -6.09 | -0.48 |
| Offshore Drilling | -83.17 | -6.50 | -44.31 | 11.23 | -22.57 | -27.30 | -52.87 | 26.98 |
| Source: Standard & Poors' 500. | ||||||||
NOTES
1.
The data used in the study were obtained through Data Resources (DRI). Table
19A. I reports the stock price performance of the industries for which data were available
from January 1981 to December 1987. Seventy-nine industry groups are reported in the
appendix. In addition to the overall period performance, the annual performance is also
reported.
2.
Benjamin F. King, "Market and Industry Factors in Stock Price Behavior," Journal
of Business 39 ( January 1966), pp. 139-90.
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