Research suggests that the mining sector had a beta of 1.7 while utility companies had a beta of 0.5. Can you explain why there is a difference given beta is determined by cyclicality of revenues, operating and financial leverage?

Research suggests that the mining sector had a beta of 1.7 while utility companies had a beta of 0.5. Can you explain why there is a difference given beta is determined by cyclicality of revenues, operating and financial leverage?

Research suggests that the mining sector had a beta of 1.7 while utility companies had a beta of 0.5. Can you explain why there is a difference given beta is determined by cyclicality of revenues, operating and financial leverage?