All the CAPs in the World
Great news! I partnered up with Ned Davis to build all the cyclically adjusted metrics and they are letting me send them out…I sorted them based on the average across all four metrics in the second table..
I also included “my” CAPE ratios as well as Star’s. As you can see there will be some variation, largely due to index selection. For example, NDR uses MSCI US instead of S&P500 which results in a lower CAPE for the US. Unless there is feedback, we will just start sending out the more comprehensive NDR table going forward.
Table below:
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| Country Index | NDR CAPE | MEB CAPE | STAR CAPE |
| Australia | 15.80 | 14.76 | 15.90 |
| Austria | 7.20 | 7.26 | 6.80 |
| Belgium | 14.70 | 13.63 | 14.30 |
| Brazil | 10.10 | 10.13 | 9.80 |
| Canada | 19.70 | 20.29 | 19.70 |
| Chile | 18.40 | 18.19 | |
| China | 13.80 | 11.64 | 16.50 |
| Colombia | 23.70 | 22.77 | |
| Czech Republic | 11.30 | 11.85 | 11.30 |
| Denmark | 30.80 | 29.62 | 32.10 |
| Egypt | 14.70 | 18.54 | |
| Finland | 14.40 | 14.13 | 14.00 |
| France | 14.30 | 14.35 | 14.00 |
| Germany | 16.00 | 15.53 | 16.40 |
| Greece | 3.20 | 3.56 | 3.50 |
| Hong Kong | 17.50 | 15.66 | 18.00 |
| Hungary | 6.00 | 7.94 | 5.70 |
| India | 20.55 | ||
| Indonesia | 21.30 | 29.98 | 26.30 |
| Ireland | 11.00 | 8.26 | 9.60 |
| Israel | 14.60 | 12.69 | 14.40 |
| Italy | 10.10 | 9.92 | 9.40 |
| Japan | 23.30 | 18.35 | 24.50 |
| Korea | 12.60 | 14.34 | 13.00 |
| Malaysia | 19.60 | 19.38 | 20.10 |
| Mexico | 22.80 | 19.26 | 22.90 |
| Netherlands | 15.60 | 13.83 | 15.20 |
| New Zealand | 14.70 | 15.00 | 14.20 |
| Norway | 12.80 | 13.09 | 12.80 |
| Peru | 14.50 | 20.00 | |
| Philippines | 26.10 | 26.16 | |
| Poland | 11.00 | 12.77 | 10.80 |
| Portugal | 8.40 | 8.98 | 7.90 |
| Russia | 5.00 | 5.96 | 5.10 |
| Singapore | 13.50 | 11.78 | 13.60 |
| South Africa | 20.30 | 19.37 | 20.30 |
| Spain | 11.90 | 11.79 | 11.40 |
| Sweden | 19.00 | 16.88 | 19.40 |
| Switzerland | 22.50 | 19.94 | 22.80 |
| Taiwan | 18.60 | 16.07 | 18.60 |
| Thailand | 17.40 | 17.89 | 17.70 |
| Turkey | 10.50 | 11.69 | 10.70 |
| U.K. | 12.30 | 12.94 | 12.50 |
| U.S. | 23.10 | 25.98 | 26.60 |
| COUNTRY | CAPE | CAPD | CAPCF | CAPB | Average Rank |
| Greece | 3.20 | 7.40 | 1.70 | 0.40 | 1.00 |
| Austria | 7.20 | 21.30 | 3.00 | 0.70 | 3.75 |
| Portugal | 8.40 | 14.00 | 3.50 | 1.10 | 4.50 |
| Hungary | 6.00 | 23.50 | 3.10 | 0.90 | 5.00 |
| Italy | 10.10 | 17.50 | 3.90 | 0.90 | 5.25 |
| Russia | 5.00 | 28.90 | 3.40 | 0.80 | 6.00 |
| Brazil | 10.10 | 23.40 | 6.40 | 1.50 | 8.50 |
| Czech Republic | 11.30 | 16.90 | 5.90 | 1.70 | 9.00 |
| Poland | 11.00 | 23.50 | 5.10 | 1.60 | 9.50 |
| Spain | 11.90 | 20.00 | 5.90 | 1.70 | 10.50 |
| Ireland | 11.00 | 24.90 | 7.80 | 1.30 | 11.00 |
| Turkey | 10.50 | 36.80 | 7.50 | 1.70 | 15.25 |
| France | 14.30 | 30.40 | 7.80 | 1.60 | 15.50 |
| New Zealand | 14.70 | 18.50 | 7.60 | 2.00 | 16.00 |
| Norway | 12.80 | 31.00 | 7.00 | 2.00 | 16.75 |
| U.K. | 12.30 | 27.40 | 8.20 | 2.00 | 17.00 |
| Finland | 14.40 | 24.30 | 8.50 | 2.00 | 18.50 |
| Korea | 12.60 | 73.40 | 7.40 | 1.50 | 19.00 |
| Singapore | 13.50 | 32.00 | 10.00 | 1.70 | 19.75 |
| Belgium | 14.70 | 30.60 | 9.50 | 1.80 | 20.75 |
| Germany | 16.00 | 38.30 | 7.90 | 1.80 | 22.00 |
| Australia | 15.80 | 22.90 | 11.40 | 2.10 | 23.50 |
| Israel | 14.60 | 38.30 | 10.80 | 1.90 | 23.50 |
| Egypt | 14.70 | 30.70 | 8.80 | 2.40 | 23.75 |
| Taiwan | 18.60 | 29.20 | 9.20 | 2.00 | 23.75 |
| China | 13.80 | 41.80 | 8.80 | 2.10 | 24.00 |
| Netherlands | 15.60 | 36.30 | 10.20 | 2.10 | 25.50 |
| Hong Kong | 17.50 | 38.40 | 13.30 | 1.60 | 26.00 |
| Japan | 23.30 | 68.60 | 8.70 | 1.60 | 28.00 |
| Peru | 14.50 | 33.40 | 12.30 | 3.50 | 28.25 |
| Chile | 18.40 | 43.20 | 10.70 | 2.00 | 28.50 |
| Thailand | 17.40 | 40.90 | 11.30 | 2.90 | 30.50 |
| Canada | 19.70 | 46.50 | 10.80 | 2.40 | 32.50 |
| Sweden | 19.00 | 39.70 | 13.50 | 2.80 | 32.50 |
| Malaysia | 19.60 | 44.40 | 13.20 | 2.60 | 33.25 |
| South Africa | 20.30 | 43.90 | 14.30 | 3.30 | 35.25 |
| Colombia | 23.70 | 45.00 | 19.40 | 2.30 | 37.00 |
| Switzerland | 22.50 | 48.10 | 17.50 | 3.20 | 37.50 |
| Mexico | 22.80 | 74.50 | 12.50 | 3.60 | 38.25 |
| U.S. | 23.10 | 67.60 | 14.40 | 3.30 | 38.50 |
| Indonesia | 21.30 | 53.60 | 14.60 | 5.10 | 38.75 |
| Philippines | 26.10 | 66.20 | 16.00 | 3.90 | 40.25 |
| Denmark | 30.80 | 102.00 | 19.10 | 4.00 | 42.50 |
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