CAP Values

Below are all of the CAP values from Ned Davis, and a composite average across all of them.  Not surprising to see Europe still in the lead for cheap countries…As a reminder 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 than the standard Shiller value of 27 currently.  You can always find updated numbers for CAPE at Star Capital and Research Affiliates…

CAPE CAPD CAPCF CAPB Average Rank
Greece 2.80 6.50 1.50 0.40 1.00
Austria 7.30 21.60 3.00 0.70 3.75
Portugal 7.70 12.90 3.20 1.00 4.25
Hungary 5.90 23.00 3.00 0.90 4.75
Italy 9.60 16.60 3.70 0.90 5.25
Russia 5.20 29.80 3.50 0.80 7.00
Czech Republic 10.30 15.30 5.30 1.60 7.75
Poland 10.80 22.90 5.00 1.50 8.75
Brazil 10.00 23.20 6.40 1.50 9.25
Spain 11.60 19.40 5.70 1.60 10.25
Ireland 11.00 24.70 7.70 1.30 11.00
France 13.80 29.30 7.60 1.50 15.00
Norway 12.10 29.20 6.60 1.90 15.00
New Zealand 14.60 18.20 7.50 1.90 15.25
U.K. 12.10 26.90 8.10 1.90 17.25
Egypt 13.20 27.70 7.90 2.10 18.25
Turkey 11.30 39.50 8.00 1.90 19.00
Korea 12.40 73.30 7.30 1.50 19.25
Finland 14.50 24.30 8.60 2.10 19.75
Singapore 13.80 32.60 10.30 1.70 20.00
Belgium 14.60 30.30 9.40 1.80 20.25
Germany 15.80 37.80 7.80 1.80 21.00
Australia 15.70 22.80 11.30 2.10 23.00
Netherlands 15.50 35.90 10.10 2.10 24.75
Israel 14.80 38.80 11.00 1.90 25.50
China 14.30 43.30 9.20 2.20 25.75
Chile 17.40 40.90 10.20 1.90 26.25
Hong Kong 18.20 40.10 13.80 1.70 27.50
Peru 14.30 33.00 12.20 3.50 28.25
Japan 23.40 69.00 8.80 1.60 28.50
Taiwan 19.70 30.80 9.70 0.00 30.25
Thailand 17.80 41.60 11.50 2.90 31.00
Canada 19.20 45.00 10.50 2.40 31.50
Sweden 19.10 39.80 13.60 2.80 31.75
Malaysia 19.00 42.70 12.80 2.50 32.00
Colombia 23.10 43.70 18.80 2.20 36.25
South Africa 20.90 45.30 14.80 3.40 36.50
Switzerland 22.40 47.90 17.40 3.20 37.25
Mexico 22.60 73.60 12.40 3.60 38.00
Indonesia 20.90 52.60 14.30 5.00 38.00
U.S. 23.60 69.00 14.70 3.40 38.75
Philippines 26.10 65.90 16.10 3.90 40.00
Denmark 30.00 99.40 18.60 3.90 42.25