Shiller Price Earnings (P/E) Ratio for the S&P 500
Cyclically-Adjusted P/E Ratios are 35% higher than the long term average, suggesting that market valuations are stretched.

Data from 12/31/52-11/01/20.
Source: multpl.com. Shiller P/E is also known as CAPE (Cyclically Adjusted Price to Earnings Ratio) Ratio). It is defined by the average of ten years of earnings (moving average), adjusted for inflation. Price Earnings Ratio indicates the dollar amount an investor can expect to invest in a company in order to receive one dollar of that company’s earnings.