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To provide some basic context of some of the securities I'm trying to highlight, I want to compare the stock's P/E with that of the sector average.

Could go with the verbose:

Stock A P/E vs Industry P/E

But maybe it would be more elegant to devise a standalone metric, something like:

$P/E_{stock} - P/E_{sector}$

I'm hoping this approach be easily discernible and the intuition gets communicated clearly: we have a sector-based benchmark where a positive number means higher valuation relative to that sector.

Question

Is this standard practice to the community's knowledge, and does this variable already have a name? (just trying to think of a concise way to call it)


Note: Just aiming for basic context, leaving firm-level nuance and other quirks out of the remit of this project

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