This chart below is an addendum to my monthly Q-Ratio update posted earlier today. There we saw that this metric of market valuation was 63% above the average (arithmetic mean) and 76% above the geometric mean.

A percentile analysis of monthly Q ratios since 1900 puts the current ratio in the 95th percentile. If we shorten the timeframe to the past sixty years, the overvaluation drops slightly to the 90th percentile.

Click for a larger image

From now on I'll integrate the percentile analysis into the main Q update.