Live valuation · as of Nov 6, 2026
Cap-weighted across 24,183 valued stocks, cross-listings deduplicated. "+15.5 %" means the market trades above its aggregate fair value.
Each area is coloured by its cap-weighted gap to fair value: green trades below, red above the computed value. Click a continent for size classes and sectors.
The same figures as a dated, citable edition with a dataset to download: Stock market valuation statistics.
more than 10% below fair value (cheap)near fair value (±10%)more than 10% above fair value (expensive)
Cap-weighted gap to fair value per country (min. 100 valued stocks): larger companies carry more weight than smaller ones.
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For over 40,000 stocks we compute a fundamental fair value from multiple models and aggregate the over/undervaluation cap-weighted into a market figure. Cross-listings are deduplicated, outliers capped. Index valuations use look-through: the weighted fair value of the constituent stocks. One source, updated daily.
Cap-weighted across 24,183 valued stocks, the global market currently sits +15.5 % versus its aggregate fair value (as of Nov 6, 2026), i.e. overvalued. Model-based estimate, not financial advice.
Large caps (from $10B market value) sit +17.7 % versus fair value, mid caps ($2B to $10B) +5.7 % and small caps (under $2B) +1.8 %, across 2,004, 3,580 and 18,599 stocks. So the premium comes mainly from the largest companies, and they carry the most weight in a cap-weighted figure.
This figure alone cannot settle that. At +15.5 % the global market counts as overvalued on our models. But the gap to fair value says how expensive prices are, not whether or when they fall. A bubble can only be identified with certainty in hindsight. The most expensive sector right now is Utilities (+37.0 %).
Most expensive: Utilities (+37.0 %) and Consumer Staples (+30.1 %). Cheapest: Communication Services (−15.3 %) and Information Technology (+8.5 %). Plus means above fair value, minus below it.
Among countries with at least 100 valued stocks, the cheapest are Hong Kong (−24.5 %) and Indonesia (−16.3 %). The most expensive are Switzerland (+48.0 %) and Italy (+41.9 %).
The CAPE ratio compares an index with its inflation-adjusted earnings over the last ten years, the Buffett indicator compares total market value with the economic output of a country. Both give one number for a whole market. Our figure is built from the bottom up: a fair value per stock from several models, added up across 24,183 stocks. That is why it can be split by sector, country and size.
All tables are available as CSV in the November 2026 report.
Model-based estimate. This valuation does not account for your personal situation, risk tolerance or investment horizon. As of Nov 6, 2026.