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In contrast, relatively safe sectors have some risky offerings: Biogen Idec (health) is about three times as risky as the market overall, as is Whole Foods (staples).
When we look at yield spreads out there to buy the safe sectors in areas that perhaps have been in the news cycle a lot with some negative stories.
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Today the "safe sector" utilities are weaker, with International Power in particular suffering after its full year figures.
Those who own shares in this reputedly "safe" sector have seen the value of their holdings fall by 54%, on average, since the beginning of the year.
People have been chasing it as a safe sector.
Gurus looked to health care, an arguably safe sector given that demographic trends would seem to assure continued robust health spending.
Information technology is a relatively safe sector but fiber-optic gear outfit Ciena is four times as risky as the market as a whole.
Much of the recent selling in the FTSE 100 has been concentrated on defensive stocks, the safe and secure sectors of the markets, as investors take profits in what are very liquid companies to raise cash for the spate of rights issues we are now seeing.
Hugh Johnson, the chief investment strategist for First Albany, said investors are sticking with safer sectors like pharmaceuticals, consumer products, utilities and food retailers.
But gold and silver slipped back as investors moved away from safer sectors, leaving Randgold Resources down 180p at £56.45 and Fresnillo 33p lower at £11.65.
However, attempts to apply these ideas outside the ultra-safe sectors within which they developed have so far been limited.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com