Energy

Coefficient

Std. Error

−8.851n.s

10.516

0.946n.s

3.576

0.410n.s

3.461

Healthcare

Coefficient

Std. Error

3.251n.s

13.990

−1.562n.s

4.713

−1.196n.s

4.565

IT

Coefficient

Std. Error

−8.876n.s

10.356

−1.826n.s

3.504

−2.251n.s

3.392

Metal

Coefficient

Std. Error

−11.881n.s

10.615

−2.628n.s

3.616

−3.145n.s

3.499

Pharmaceutical

Coefficient

Std. Error

−12.160n.s

10.219

−1.363n.s

3.461

−2.112n.s

3.351

Services

Coefficient

Std. Error

t-Statistic

Prob.

−5.130n.s

10.525

−0.421n.s

3.552

−0.711n.s

3.438

Cross-Section Random

{9.332386}

[0.6294]

{2.985032}

[0.2768]

{2.951882}

[0.3034]

Period Random

_

{3.414900}

[0.3623]

{3.217414}

[0.3605]

Idiosyncratic Random

{7.161847}

[0.3706]

{3.408263}

[0.3609]

{3.106601}

[0.3361]

Adjusted R-Squared

0.239735

0.030439

0.047920

F-statistic

11.27977

(0.000000)

2.023455

(0.002294)

2.640805

(0.000026)