Volatility Anomaly (VMS) vs. CAPE: 1931 to Present

Sources: Fred, NBER, Analytic Investors. For illustrative purposes only. VMS stands for volatile-minus-stable stocks and is a measure of the volatility factor.
Sources: Fred, NBER, Analytic Investors. For illustrative purposes only. VMS stands for volatile-minus-stable stocks and is a measure of the volatility factor.