Beta Intuition:

Betas typically vary by industry. For instance, Engineering and Construction firms had an average unlevered Beta of 1.05 over the last few years, while Food and Grocery Retailers had an average unlevered Beta of 0.41. Use your knowledge to explain this observed difference. Try to generalize your argument to the universe of industries/firms and not just these two examples.

Now imagine that the people in your life had "Betas". I would argue that your close friends and family are like the low beta assets in a portfolio (perhaps even like portfolio insurance), while professional acquaintances (or other entourage-like individuals) are the high beta assets. Try to explain this parallel.

Please answer the above 2 questions!