A
peer group is a social group consisting of people who are equal in such respects as age, education or social class.
[1] Members of a particular peer group often have similar interests and backgrounds, bonded by the premise of sameness
[2]. However, some peer groups are very diverse, crossing social divides such as
socioeconomic status, level of
education,
race,
creed,
culture, or
religion.
The term peer pressure is often used to describe instances where an individual feels indirectly pressured into changing their behavior to match that of their peers. Taking up smoking and underage drinking are two of the best known examples. In spite of the often negative connotations of the term, peer pressure can be used positively.
A peer group in finance is any equity, mutual fund, or financial instrument that relates to another equity, mutual fund, or financial instrument within its respective asset class in terms of investment style, industry, or underlying asset composition.
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