Sectors

Group I

Group II

Group III

Financial Ratios and Market Indicators/Indices

40

40

40

Macroeconomic Parameters

14

14

14

Total Variables

54

54

54

Eliminated Variables After 5% Missing Data (−)

13

17

14

Remaining Variables

41

37

40

Eliminated Variables After Clustering (−)

32

27

31

Wide Variables Group

9

10

9