CAP Values

Q1 archives updated, and 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 28 currently.  You can always find updated numbers for CAPE at Star Capital and Research Affiliates…

CAPE CAPD CAPCF CAPB Average Rank
Greece 2.00 4.80 1.10 0.30 1.00
Russia 4.80 27.50 3.30 0.70 2.00
Austria 8.40 24.00 3.40 0.80 3.25
Hungary 7.10 27.00 3.60 1.00 4.25
Portugal 8.40 13.90 3.50 1.10 4.75
Italy 11.30 17.50 4.20 1.00 6.75
Brazil 9.10 20.70 5.70 1.30 7.75
Poland 10.70 22.00 4.90 1.50 7.75
Czech Republic 10.70 16.00 5.60 1.60 8.25
Korea 12.40 74.00 7.20 1.40 11.00
Spain 13.00 21.20 6.30 1.80 12.25
Norway 12.00 28.50 6.50 1.80 12.25
Turkey 10.90 38.40 7.80 1.80 13.00
U.K. 12.50 27.70 8.30 2.00 16.75
New Zealand 15.30 19.10 7.90 2.00 17.25
Egypt 13.80 28.60 8.20 2.20 17.25
France 16.50 34.80 9.10 1.80 18.25
Ireland 14.70 32.70 10.20 1.70 18.75
Singapore 13.90 32.70 10.50 1.70 19.75
China 14.90 45.30 9.70 2.30 20.25
Chile 17.40 39.60 10.30 1.90 23.50
Taiwan 20.70 32.20 10.10 2.20 24.50
Germany 19.90 47.10 10.00 2.30 24.50
Finland 17.20 28.70 10.20 2.40 24.50
Japan 26.30 77.50 10.10 1.80 25.25
Peru 13.10 30.70 11.30 3.10 26.50
Thailand 16.70 38.90 10.70 2.70 27.00
Hong Kong 17.90 39.80 13.60 1.70 27.75
Colombia 17.80 33.40 14.30 1.70 28.25
Australia 17.20 25.00 12.40 2.30 28.25
Belgium 18.90 38.60 12.10 2.20 28.50
Canada 19.60 44.90 10.70 2.40 29.00
Israel 17.30 45.00 12.80 2.30 30.50
Netherlands 19.70 45.50 12.70 2.50 32.00
Malaysia 19.10 42.30 12.80 2.50 32.25
Mexico 21.70 70.20 11.90 3.40 32.75
Indonesia 21.90 55.20 15.00 5.20 38.25
Sweden 22.20 45.80 15.90 3.20 38.50
South Africa 22.10 47.30 15.60 3.60 38.75
U.S. 24.5 / 28 70.20 15.10 3.50 39.50
Switzerland 23.10 48.10 17.90 3.20 40.00
Philippines 28.00 70.20 17.50 4.20 41.00
Denmark 37.20 121.60 23.20 4.90 42.50

 

Discretionary 36.8
Health Care 28.8
IT 27.9
Telecom 25.7
Materials 24.9
Staples 23.4
Industrials 22
Utilities 18.3
Energy 15.4
Financials 15.3