$\rho$

${\beta }_1$

${\beta }_2$

Contagion

Materials

0.2540***

0.1959***

0.2045***

C

Telecommunications

0.1779***

0.0048

−0.0671***

Industries

0.1622***

0.1691***

0.1135***

C

Utilities

0.2008***

0.1886***

0.1181***

C

Science and technology

0.2142***

−0.0061

−0.0550***

Energy

0.2515***

0.2015**

0.2907***

C

Consumer services

0.1361***

0.1361***

0.1871***

C

Consumer goods

0.1592***

−0.0027***

−0.1240***

Medical and health care

0.1840***

−0.1646***

0.0768

Adj R²

0.8182

F-statistic

2627.286***

D.W

1.9576