ShillerPE-VIX

Market Valuation Ratio

Shiller PE / VIX Daily Analysis

Understanding the Ratio

The PE/VIX ratio provides insight into market valuation relative to expected volatility. This metric combines the Shiller PE (10-year cyclically adjusted price-to-earnings ratio) with the VIX (volatility index) to assess market conditions.

📈 High Ratio (>2.5)

Markets are expensive relative to earnings, with low expected volatility. Historically associated with investor complacency.

📊 Moderate (1.0-2.5)

Balanced relationship between valuations and volatility expectations. Neither extreme optimism nor pessimism dominates.

📉 Low Ratio (<1.0)

Markets are cheaper relative to earnings or volatility expectations are elevated. May indicate fear or attractive entry points.

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Shiller PE — Market Valuation History

S&P 500 CAPE ratio since 1871 with key market events, forward return estimates, and mean reversion analysis

Current CAPE (2026)

39.85

Historical average

—

All-time high

44.2 (2000)

% above avg

—

Estimating forward returns…

Mean reversion gauge — how overvalued vs. history —

Fair value +25% +50% +75% +100%+

Shiller PE (CAPE)

Historical average

Overvalued (>30)

Caution (25–30)

Peak / crash

Market bottom / buy

Notable event