SP500-CAPE-RATIO — Daily CSV Download (S&P 500 CAPE Ratio)
The CAPE ratio — also called the Shiller PE10 — divides the S&P 500 price by the average of 10 years of inflation-adjusted earnings. By smoothing the earnings cycle, it provides a more stable gauge of equity valuations than the trailing P/E. Developed by Nobel laureate Robert Shiller, the CAPE is the most widely cited long-term valuation metric in macro-finance. Levels above 30 have historically preceded periods of below-average forward returns.
Dataset: S&P 500 Cyclically Adjusted Price-to-Earnings Ratio (1881–2026) · Updated 2026-05-01
Macro Takeaway
This indicator is a key component of the macro-financial monitoring framework. Its current level relative to its historical distribution — captured in the percentile and z-score above — provides immediate context for whether conditions are historically normal, stretched, or compressed.
Cross-referencing with the earnings yield and the 10-year Treasury yield helps situate this indicator within the broader macro regime.
Dataset Overview
| Indicator | S&P 500 Cyclically Adjusted Price-to-Earnings Ratio (1881–2026) |
|---|---|
| Geography | United States |
| Frequency | Monthly |
| Period | 1881–2026 |
| Variables | date, cape_ratio |
| Format | CSV, Excel (XLSX) |
| Sources | Robert Shiller, Yale University (ie_data.xls) — Open academic data |
| Last updated | — |
Dataset Variables
The CSV and Excel files contain the following columns.
| Column | Type | Description |
|---|---|---|
date | Date (YYYY-MM-DD) | Observation date (first of month) |
cape_ratio | Float | Cyclically Adjusted P/E Ratio (10-year real earnings) |
Column names match the CSV headers exactly.
Download the Complete Dataset
The full dataset is available in CSV and Excel formats.
Direct CSV Access — Eco3min Structured Dataset
https://eco3min.fr/dataset/sp500-cape-ratio.csv
This URL returns the complete dataset in CSV format. It can be used directly in pandas, R, curl, or any data tool.
Using the Dataset in Python
import pandas as pd url = "https://eco3min.fr/dataset/sp500-cape-ratio.csv" df = pd.read_csv(url, parse_dates=["date"]) print(df.head()) print(df.describe())
Using the Dataset in R
library(readr) url <- "https://eco3min.fr/dataset/sp500-cape-ratio.csv" df <- read_csv(url) head(df) summary(df)
Both examples load the dataset directly from the URL — no download or API key required.
Methodology
S&P 500 real price divided by 10-year moving average of real earnings. Both series are CPI-adjusted. Source: Professor Robert Shiller’s online dataset (Yale University), updated monthly. 100% open academic data.
This dataset is updated automatically via the Eco3min data pipeline.
Historical Regimes
Historical regime analysis for this dataset will be added in a future update. The key stats block above provides immediate context for the current reading relative to the full historical distribution.
Related Macroeconomic Datasets
- S&P 500 P/E Ratio — Trailing (non-smoothed) valuation
- S&P 500 Earnings Yield — Inverse of P/E — comparable to bond yields
- Excess CAPE Yield — CAPE-based equity-bond relative value
- Equity Risk Premium — Earnings yield minus Treasury yield
- S&P 500 Dividend Yield — Cash return to shareholders
Related Research
Macroeconomic Dataset Hub
This dataset is part of the Eco3min macro-financial data repository.
Explore the Eco3min Dataset Hub
Sources
- Robert Shiller, Yale University (ie_data.xls) — Open academic data
Dataset Reference
Last updated — 9 May 2026
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