FactSet RBICS Focus

The datasets described herein are proprietary to FactSet Research Systems, Inc. ("FactSet") and may not be copied or distributed. The datasets made available to Quantopian by FactSet are not exhaustive of FactSet's data, products, software, and/or services.

Copyright © 2020 FactSet Research Systems Inc. All rights reserved.


FactSet’ s Revere Business Industry Classification System (RBICS) is a comprehensive structured taxonomy designed to offer precise classification of global companies. RBICS Focus is a dataset containing single-sector mappings of thousands of the most-liquid and publicly-traded companies worldwide based on their primary lines of business; it uses revenues as the key factor in determining a company’s primary line of business. On Quantopian, RBICS Focus sectors are available at three levels of granularity:

  • Level 1: Economy
  • Level 2: Sector
  • Level 3: Subsector

RBICS Focus data is available via the Pipeline API, which means it can be accessed in Research and the IDE.


Global data is available in Pipeline in Research. The IDE only has access to US equity data at this time.


  • Coverage: All supported countries on Quantopian
  • Data Frequency: Daily
  • Update Frequency: Daily (updated overnight after each trading day)
  • Timespan: North America 2004 to present. Other region start dates can be found here
  • Point-In-Time Start: November 2018
  • Holdout: 1 year


To overcome disparate and non-standardized company disclosure, FactSet created a normalized global industry classification structure. Standardized industry definitions are applied to companies globally. Only primary sources of information disclosed directly by companies via regulatory filings, investor reports, and company press releases are used. FactSet Analysts are trained to interpret information in a consistent manner and input them into a data management system with built-in quality and error-checking features.

Data quality is monitored using a combination of system and human quality controls. FactSet utilizes technology such as an internally developed document reader with customizable searching and translation tools to augment the data collection and review efficacy. Ultimately, the information quality results from the patented taxonomy and the well-trained analysts following the methodology yet exercising sound judgement to ensure collection of material data and proper assimilation of the information in order to generate unprecedented visibility into companies and markets.


Starting in November 2018, RBICS Focus data is collected and surfaced in a point-in-time fashion on Quantopian. This corresponds to when Quantopian started downloading and storing RBICS Focus data on a nightly basis. Timestamps for historical data prior to November 2018 are approximated by adding 24 hours to the asof_date of each record.


RBICSFocus is a pipeline DataSet that provides access to sector classification data for global equities based on their primary source(s) of revenue. The columns of the RBICSFocus dataset can be used like any other pipeline DataSet.


from quantopian.pipeline.data.factset import RBICSFocus


This code snippet constructs and runs a pipeline that computes the difference between an asset's 1-week return and the 1-week mean return of all assets with the same economy classification. Note that this example uses Factor.demean() to group assets by economy classification and subtract the mean return of the group.

from quantopian.pipeline import Pipeline
from quantopian.pipeline.data.factset import RBICSFocus
from quantopian.pipeline.domain import US_EQUITIES
from quantopian.pipeline.factors import Returns
from quantopian.research import run_pipeline

# Create a classifier based on the most recent level 1 RBICS Focus classification.
economy_focus = RBICSFocus.l1_name.latest

# Create a one-week return factor.
returns_1w = Returns(window_length=6)

# Create a 'demeaned' return factor that scores each asset on the difference
# between its weekly return and the mean return of all equities in its sector.
returns_1w_less_sector_mean = returns_1w.demean(groupby=economy_focus)

# Add the sector classifier and demeaned return factor to the pipeline.
pipe = Pipeline(
        'economy_focus': economy_focus,
        'returns_1w_less_sector_mean': returns_1w_less_sector_mean,

# Run the pipeline for one year and print the first few rows of the result.
df = run_pipeline(pipe, '2015-05-05', '2016-05-05')

Pipeline Datasets & Columns


RBICSFocus - The RBICSFocus dataset is a pipeline DataSet that provides access to revenue-based sector classifications.


The RBICSFocus dataset has the following fields (accessible as BoundColumn attributes):

  • l1_id (dtype str) - Economy classification code based on business focus.
  • l1_name (dtype str) - Economy classification name based on business focus.
  • l2_id (dtype str) - Sector classification code based on business focus.
  • l2_name (dtype str) - Sector classification name based on business focus.
  • l3_id (dtype str) - Subsector classification code based on business focus.
  • l3_name (dtype str) - Subsector classification name based on business focus.
  • asof_date (dtype datetime64[ns]) - The start date of the classification (date when the record first applies).