指数 · S&P 500 · 1871年1月からの月次
S&P 500の推移（1871年から）
米国株の1世紀半を1か所に：指数、配当が上乗せした分、20%以上の下落のすべて、年別と月別のリターン、シラーPERによるバリュエーション。どの数字もインフレ調整後に切り替えて表示できます。
1月 1871からのS&P 500の$1、配当再投資
×119万年+9.4%
日次終値の月平均。ロバート・シラーのデータによる。手数料と税金は考慮していません。
S&P 500 · 10月 2026
7,723
過去最高水準
日次終値の月平均。最新の月は暫定値です。過去最高：7,723（10月 2026）。
指数のみ、1月 1871から
×1,739年+4.9%
最も深い下落
−84.8%
9月 1929 → 6月 1932; 9月 1954に最高値を回復、25年後
シラーPER（CAPE） · 10月 2026
40.7
平均17.8
1881以降の平均。インフレ調整後の10年間の利益に対する株価。
成果の大半は配当でした1871年1月以降、指数は×1,739に上昇しました（年4.9%）。配当を再投資すると$1は$119万（年9.4%）、インフレ調整後は$4.42万（年7.1%）になりました。
20%以上の下落が13回最も深い下落：1929年9月から1932年6月にかけて84.8%。指数が過去最高に戻ったのは1954年9月でした。直近：2021–2022（20.3%）。
インフレ調整後：回復に23.1 年1968年12月から指数は1982年7月にかけて実質で62.6%下落し、そのピークに戻ったのは1992年1月でした。表示された値のドル建てでは、1972年3月にはすでにピークを上回っていました。
シラーPERは40.72026年10月の景気循環調整後PER（CAPE）は40.7で、1881以降の平均は17.8でした。これより高かったのは1999–2000と2026だけで、1999年12月の44.2が頂点でした。
株価チャート
指数の月ごとの推移。「配当込み」は、配当を再投資した場合に$1がいくらになったか（トータルリターン指数）を、指数のみと並べて示します。「インフレ調整後」をオンにすると、すべて10月 2026のドルで表示します。
S&P 500指数
20%以上の下落
1871年以降、月平均が過去最高から20%以上下回ったのは13回です（インフレ調整後は12回）。月平均では短期の暴落がならされます。月平均では2020年3月は過去最高を19.1%下回っていて、この表の基準にわずかに届きません。
過去最高から
| ピーク | ピークの水準 | 底 | 底の水準 | 下落率 | 下落期間 | 最高値の回復 |
|---|---|---|---|---|---|---|
| 4月 1872 | 5.18 | 6月 1877 | 2.73 | −47.3% | 5.2 年 | 2月 18807.8 年後 |
| 6月 1881 | 6.58 | 8月 1896 | 3.81 | −42.1% | 15.2 年 | 12月 190019.5 年後 |
| 9月 1902 | 8.85 | 10月 1903 | 6.26 | −29.3% | 13か月 | 3月 19052.5 年後 |
| 9月 1906 | 10.03 | 11月 1907 | 6.25 | −37.7% | 14か月 | 8月 19092.9 年後 |
| 12月 1909 | 10.30 | 8月 1921 | 6.45 | −37.4% | 11.7 年 | 1月 192515.1 年後 |
| 9月 1929 | 31.30 | 6月 1932 | 4.77 | −84.8% | 2.8 年 | 9月 195425年後 |
| 12月 1961 | 71.74 | 6月 1962 | 55.63 | −22.5% | 6か月 | 9月 196321か月後 |
| 12月 1968 | 106 | 6月 1970 | 75.59 | −29.0% | 18か月 | 3月 19723.2 年後 |
| 1月 1973 | 118 | 12月 1974 | 67.07 | −43.4% | 23か月 | 7月 19807.5 年後 |
| 8月 1987 | 329 | 12月 1987 | 241 | −26.8% | 4か月 | 7月 198923か月後 |
| 8月 2000 | 1,485 | 2月 2003 | 837 | −43.7% | 2.5 年 | 5月 20076.8 年後 |
| 10月 2007 | 1,540 | 3月 2009 | 757 | −50.8% | 17か月 | 3月 20135.4 年後 |
| 12月 2021 | 4,675 | 10月 2022 | 3,726 | −20.3% | 10か月 | 12月 20232年後 |
ピークと底は日次終値の月平均なので、個々の日にはもっと高い、または低い値もありました。月平均が過去最高を上回った最初の月に、最高値を回復したとみなします。「インフレ調整後」をオンにすると、表は今日のドルで再計算されます。 データ：ロバート・J・シラー（イェール大学） · インフレ：米国CPI、シラーのデータ.
暦年ごとのリターン
配当を再投資し、ある12月の平均から次の12月の平均までで計算しているため、通常示される年末の数字とは少し異なります。赤い棒は損失です。
配当込み
| 年 | 12月の平均 | 指数のみ | 配当込み | 消費者物価 |
|---|---|---|---|---|
| 2026* | 7,723 | +12.7% | +13.7% | +3.6% |
| 2025 | 6,853 | +14.0% | +15.4% | +2.7% |
| 2024 | 6,011 | +28.3% | +30.0% | +2.9% |
| 2023 | 4,685 | +19.7% | +21.7% | +3.4% |
| 2022 | 3,912 | −16.3% | −15.0% | +6.5% |
| 2021 | 4,675 | +26.5% | +28.3% | +7.0% |
| 2020 | 3,695 | +16.3% | +18.5% | +1.4% |
| 2019 | 3,177 | +23.7% | +26.2% | +2.3% |
| 2018 | 2,567 | −3.6% | −1.8% | +1.9% |
| 2017 | 2,664 | +18.6% | +20.9% | +2.1% |
| 2016 | 2,247 | +9.4% | +11.7% | +2.1% |
| 2015 | 2,054 | −0.0% | +2.0% | +0.7% |
| 2014 | 2,054 | +13.6% | +15.9% | +0.8% |
| 2013 | 1,808 | +27.1% | +29.7% | +1.5% |
| 2012 | 1,422 | +14.4% | +16.8% | +1.7% |
| 2011 | 1,243 | +0.1% | +2.1% | +3.0% |
| 2010 | 1,242 | +11.8% | +14.0% | +1.5% |
| 2009 | 1,110 | +26.5% | +30.0% | +2.7% |
| 2008 | 878 | −40.7% | −39.2% | +0.1% |
| 2007 | 1,479 | +4.4% | +6.3% | +4.1% |
| 2006 | 1,416 | +12.2% | +14.3% | +2.5% |
| 2005 | 1,262 | +5.2% | +7.1% | +3.4% |
| 2004 | 1,199 | +11.0% | +12.8% | +3.3% |
| 2003 | 1,081 | +20.2% | +22.3% | +1.9% |
| 2002 | 899 | −21.5% | −20.2% | +2.4% |
| 2001 | 1,145 | −14.0% | −12.8% | +1.6% |
| 2000 | 1,331 | −6.8% | −5.8% | +3.4% |
| 1999 | 1,429 | +20.1% | +21.6% | +2.7% |
| 1998 | 1,190 | +23.7% | +25.5% | +1.6% |
| 1997 | 962 | +29.5% | +31.8% | +1.7% |
過去の年、1871～1996年
| 年 | 12月の平均 | 指数のみ | 配当込み | 消費者物価 |
|---|---|---|---|---|
| 1996 | 743 | +20.9% | +23.6% | +3.3% |
| 1995 | 615 | +35.0% | +38.4% | +2.5% |
| 1994 | 455 | −2.3% | +0.5% | +2.7% |
| 1993 | 466 | +7.0% | +10.0% | +2.7% |
| 1992 | 436 | +12.1% | +15.5% | +2.9% |
| 1991 | 389 | +18.2% | +22.1% | +3.1% |
| 1990 | 329 | −5.7% | −2.4% | +6.1% |
| 1989 | 349 | +26.1% | +30.2% | +4.6% |
| 1988 | 276 | +14.7% | +18.8% | +4.4% |
| 1987 | 241 | −3.1% | −0.1% | +4.4% |
| 1986 | 249 | +19.9% | +24.1% | +1.1% |
| 1985 | 207 | +26.0% | +31.4% | +3.8% |
| 1984 | 164 | +0.1% | +4.7% | +3.9% |
| 1983 | 164 | +17.9% | +23.2% | +3.8% |
| 1982 | 139 | +12.6% | +19.2% | +3.8% |
| 1981 | 124 | −7.3% | −2.5% | +8.9% |
| 1980 | 134 | +23.8% | +30.2% | +12.5% |
| 1979 | 108 | +12.2% | +18.2% | +13.3% |
| 1978 | 96.11 | +2.4% | +7.8% | +9.0% |
| 1977 | 93.82 | −10.4% | −6.3% | +6.7% |
| 1976 | 105 | +18.0% | +22.5% | +4.9% |
| 1975 | 88.70 | +32.2% | +38.0% | +6.9% |
| 1974 | 67.07 | −29.2% | −26.1% | +12.3% |
| 1973 | 94.78 | −19.3% | −16.9% | +8.7% |
| 1972 | 118 | +18.5% | +21.9% | +3.4% |
| 1971 | 99.17 | +10.1% | +13.7% | +3.3% |
| 1970 | 90.05 | −1.2% | +2.7% | +5.6% |
| 1969 | 91.11 | −14.5% | −11.7% | +6.2% |
| 1968 | 106 | +11.8% | +15.2% | +4.7% |
| 1967 | 95.30 | +17.2% | +20.9% | +3.0% |
| 1966 | 81.33 | −11.3% | −8.3% | +3.5% |
| 1965 | 91.73 | +9.3% | +12.5% | +1.9% |
| 1964 | 83.96 | +13.2% | +16.6% | +1.0% |
| 1963 | 74.17 | +18.4% | +22.2% | +1.6% |
| 1962 | 62.64 | −12.7% | −9.7% | +1.3% |
| 1961 | 71.74 | +26.3% | +30.1% | +0.7% |
| 1960 | 56.80 | −3.8% | −0.4% | +1.4% |
| 1959 | 59.06 | +10.4% | +13.9% | +1.7% |
| 1958 | 53.49 | +32.6% | +37.8% | +1.8% |
| 1957 | 40.33 | −13.2% | −9.7% | +2.9% |
| 1956 | 46.44 | +2.4% | +6.3% | +3.0% |
| 1955 | 45.37 | +29.7% | +35.0% | +0.4% |
| 1954 | 34.97 | +40.8% | +48.1% | −0.7% |
| 1953 | 24.83 | −4.6% | +1.0% | +0.7% |
| 1952 | 26.04 | +11.2% | +17.9% | +0.8% |
| 1951 | 23.41 | +18.5% | +26.8% | +6.0% |
| 1950 | 19.75 | +19.4% | +27.9% | +5.9% |
| 1949 | 16.54 | +8.9% | +16.5% | −2.1% |
| 1948 | 15.19 | +1.1% | +6.9% | +3.0% |
| 1947 | 15.03 | −0.7% | +4.5% | +8.8% |
| 1946 | 15.13 | −12.7% | −9.1% | +18.1% |
| 1945 | 17.33 | +32.3% | +38.1% | +2.2% |
| 1944 | 13.10 | +14.1% | +20.0% | +2.3% |
| 1943 | 11.48 | +20.6% | +27.0% | +3.0% |
| 1942 | 9.52 | +8.7% | +17.2% | +9.0% |
| 1941 | 8.76 | −16.8% | −10.7% | +9.9% |
| 1940 | 10.53 | −14.9% | −9.7% | +0.7% |
| 1939 | 12.37 | −2.5% | +2.0% | 0.0% |
| 1938 | 12.69 | +15.2% | +22.5% | −2.8% |
| 1937 | 11.02 | −35.4% | −31.9% | +2.9% |
| 1936 | 17.06 | +30.8% | +35.8% | +1.4% |
| 1935 | 13.04 | +40.8% | +47.0% | +3.0% |
| 1934 | 9.26 | −7.1% | −2.8% | +1.5% |
| 1933 | 9.97 | +46.2% | +54.4% | +0.8% |
| 1932 | 6.82 | −19.2% | −11.0% | −10.3% |
| 1931 | 8.44 | −45.6% | −41.8% | −9.3% |
| 1930 | 15.51 | −27.5% | −24.0% | −6.4% |
| 1929 | 21.40 | −7.6% | −4.2% | +0.6% |
| 1928 | 23.15 | +32.6% | +38.1% | −1.2% |
| 1927 | 17.46 | +29.4% | +35.8% | −2.3% |
| 1926 | 13.49 | +8.3% | +14.0% | −1.1% |
| 1925 | 12.46 | +22.6% | +29.2% | +3.5% |
| 1924 | 10.16 | +18.8% | +26.1% | 0.0% |
| 1923 | 8.55 | −2.6% | +3.5% | +2.4% |
| 1922 | 8.78 | +20.1% | +27.3% | −2.3% |
| 1921 | 7.31 | +7.3% | +15.2% | −10.8% |
| 1920 | 6.81 | −23.7% | −18.5% | +2.6% |
| 1919 | 8.92 | +12.9% | +20.2% | +14.5% |
| 1918 | 7.90 | +16.2% | +26.2% | +20.4% |
| 1917 | 6.80 | −30.6% | −25.2% | +18.1% |
| 1916 | 9.80 | +3.4% | +9.0% | +12.6% |
| 1915 | 9.48 | +29.0% | +35.8% | +2.0% |
| 1914 | 7.35 | −8.6% | −3.3% | +1.0% |
| 1913 | 8.04 | −14.3% | −9.3% | +3.0% |
| 1912 | 9.38 | +3.0% | +8.2% | +7.4% |
| 1911 | 9.11 | +0.7% | +5.9% | −2.1% |
| 1910 | 9.05 | −12.1% | −7.7% | −7.6% |
| 1909 | 10.30 | +14.1% | +19.1% | +10.5% |
| 1908 | 9.03 | +37.4% | +45.1% | +3.3% |
| 1907 | 6.57 | −33.2% | −29.5% | −2.1% |
| 1906 | 9.84 | +3.1% | +7.2% | +5.6% |
| 1905 | 9.54 | +15.6% | +19.8% | 0.0% |
| 1904 | 8.25 | +25.6% | +31.6% | +4.7% |
| 1903 | 6.57 | −18.4% | −14.4% | −5.6% |
| 1902 | 8.05 | +1.3% | +5.2% | +7.1% |
| 1901 | 7.95 | +15.7% | +20.4% | +5.0% |
| 1900 | 6.87 | +14.1% | +19.0% | −3.6% |
| 1899 | 6.02 | +6.5% | +10.1% | +16.9% |
| 1898 | 5.65 | +18.9% | +23.5% | +1.4% |
| 1897 | 4.75 | +12.6% | +17.2% | 0.0% |
| 1896 | 4.22 | −2.3% | +2.0% | −1.4% |
| 1895 | 4.32 | +0.5% | +5.0% | +2.9% |
| 1894 | 4.30 | −2.5% | +2.7% | −6.8% |
| 1893 | 4.41 | −20.0% | −15.7% | −7.5% |
| 1892 | 5.51 | +1.8% | +6.2% | +1.3% |
| 1891 | 5.41 | +17.6% | +22.9% | −4.8% |
| 1890 | 4.60 | −13.5% | −9.8% | +1.2% |
| 1889 | 5.32 | +3.5% | +8.0% | −5.7% |
| 1888 | 5.14 | −2.5% | +2.1% | 0.0% |
| 1887 | 5.27 | −6.6% | −2.5% | +6.1% |
| 1886 | 5.64 | +8.5% | +13.2% | −4.7% |
| 1885 | 5.20 | +19.8% | +27.2% | −1.1% |
| 1884 | 4.34 | −18.7% | −13.1% | −10.3% |
| 1883 | 5.34 | −8.6% | −3.1% | −7.6% |
| 1882 | 5.84 | −2.8% | +2.6% | −1.9% |
| 1881 | 6.01 | +2.9% | +7.8% | +7.0% |
| 1880 | 5.84 | +18.7% | +24.1% | −2.0% |
| 1879 | 4.92 | +42.6% | +49.4% | +18.6% |
| 1878 | 3.45 | +6.2% | +12.1% | −14.0% |
| 1877 | 3.25 | −9.2% | −2.0% | −11.5% |
| 1876 | 3.58 | −18.1% | −11.8% | −1.7% |
| 1875 | 4.37 | −3.7% | +3.3% | −5.0% |
| 1874 | 4.54 | +2.7% | +10.4% | −5.5% |
| 1873 | 4.42 | −12.8% | −6.9% | −5.9% |
| 1872 | 5.07 | +7.0% | +13.1% | +2.3% |
| 1871* | 4.74 | +6.8% | +12.3% | +1.5% |
* 1871年は1月 1871から、2026年は10月 2026までです。消費者物価：12月から12月までの米国CPIで、各年のリターンが上回る必要があったインフレ率です。
月ごとのリターン
配当を再投資すると、S&P 500は1869か月のうち1179で上昇しました（63%）。最も良かった月は1932年8月（+51.3%）、最も悪かった月は1929年11月（−26.2%）でした。
| 年 | 1月 | 2月 | 3月 | 4月 | 5月 | 6月 | 7月 | 8月 | 9月 | 10月 | 11月 | 12月 | 通年 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.2% | −0.4% | −3.4% | +4.6% | +6.6% | +0.6% | +0.5% | +3.2% | −0.5% | +0.8% | +13.7%* | ||
| 2025 | −0.4% | +1.1% | −5.8% | −5.4% | +8.3% | +3.9% | +4.5% | +1.9% | +2.8% | +2.4% | +0.2% | +1.8% | +15.4% |
| 2024 | +2.9% | +4.2% | +3.3% | −1.0% | +2.5% | +3.6% | +2.4% | −1.0% | +2.7% | +3.2% | +2.5% | +1.5% | +30.0% |
| 2023 | +1.4% | +3.1% | −2.6% | +4.0% | +0.7% | +4.9% | +3.9% | −1.0% | −1.0% | −3.0% | +4.6% | +5.2% | +21.7% |
| 2022 | −2.1% | −2.9% | −0.9% | +0.1% | −7.9% | −3.4% | +0.5% | +6.4% | −7.3% | −3.1% | +5.3% | 0.0% | −15.0% |
| 2021 | +2.8% | +2.5% | +0.8% | +6.0% | +0.8% | +1.8% | +3.1% | +2.2% | −0.1% | +0.5% | +4.7% | +0.3% | +28.3% |
| 2020 | +3.3% | +0.1% | −18.9% | +4.3% | +5.9% | +6.5% | +3.5% | +5.9% | −0.6% | +1.7% | +4.0% | +4.3% | +18.5% |
| 2019 | +1.7% | +5.8% | +1.9% | +3.7% | −1.5% | +1.4% | +3.8% | −3.1% | +3.1% | 0.0% | +4.4% | +2.5% | +26.2% |
| 2018 | +4.9% | −2.9% | +0.1% | −1.7% | +2.0% | +2.1% | +1.6% | +2.5% | +1.7% | −3.8% | −2.1% | −5.6% | −1.8% |
| 2017 | +1.4% | +2.6% | +1.8% | −0.2% | +1.7% | +1.8% | +1.0% | +0.2% | +1.7% | +2.7% | +1.6% | +2.9% | +20.9% |
| 2016 | −6.4% | −0.5% | +6.4% | +2.8% | −0.3% | +1.1% | +3.3% | +1.2% | −0.4% | −0.5% | +1.2% | +3.9% | +11.7% |
| 2015 | −1.1% | +2.8% | +0.1% | +0.9% | +1.0% | −0.4% | −0.1% | −2.4% | −4.5% | +4.3% | +2.9% | −1.1% | +2.0% |
| 2014 | +1.0% | −0.1% | +2.7% | +0.2% | +1.5% | +3.2% | +1.5% | −0.4% | +1.8% | −2.6% | +5.7% | +0.6% | +15.9% |
| 2013 | +4.3% | +2.3% | +2.7% | +1.5% | +4.6% | −1.1% | +3.3% | +0.3% | +1.2% | +2.1% | +3.9% | +1.5% | +29.7% |
| 2012 | +4.8% | +4.2% | +2.9% | 0.0% | −3.1% | −1.2% | +2.9% | +3.4% | +3.0% | −0.2% | −2.8% | +2.2% | +16.8% |
| 2011 | +3.5% | +3.2% | −1.1% | +2.2% | +0.7% | −3.7% | +3.1% | −10.4% | −0.8% | +3.0% | +1.8% | +1.6% | +2.1% |
| 2010 | +1.4% | −2.9% | +5.9% | +4.1% | −5.9% | −3.5% | −0.2% | +0.9% | +3.4% | +4.6% | +2.5% | +3.7% | +14.0% |
| 2009 | −1.1% | −6.7% | −5.7% | +12.3% | +6.7% | +2.9% | +1.3% | +8.1% | +3.6% | +2.4% | +2.1% | +2.2% | +30.0% |
| 2008 | −6.6% | −1.6% | −2.6% | +4.2% | +2.6% | −4.2% | −6.1% | +2.1% | −4.8% | −20.2% | −8.6% | −0.4% | −39.2% |
| 2007 | +0.7% | +1.6% | −2.5% | +4.2% | +3.4% | +0.3% | +0.6% | −4.2% | +3.1% | +3.0% | −4.8% | +1.2% | +6.3% |
| 2006 | +1.5% | 0.0% | +1.5% | +0.8% | −0.8% | −2.7% | +0.7% | +2.3% | +2.5% | +3.6% | +2.0% | +2.1% | +14.3% |
| 2005 | −1.3% | +1.7% | −0.3% | −2.4% | +1.3% | +2.2% | +1.8% | +0.3% | +0.3% | −2.6% | +4.0% | +2.1% | +7.1% |
| 2004 | +4.9% | +1.1% | −1.6% | +1.0% | −2.6% | +2.9% | −2.2% | −1.4% | +2.8% | +0.1% | +4.8% | +2.7% | +12.8% |
| 2003 | −0.2% | −6.4% | +1.3% | +5.3% | +5.3% | +5.7% | +0.6% | −0.2% | +3.2% | +2.0% | +1.2% | +3.1% | +22.3% |
| 2002 | −0.3% | −3.4% | +4.9% | −3.5% | −2.8% | −5.9% | −10.8% | +1.1% | −4.8% | −1.4% | +6.6% | −1.0% | −20.2% |
| 2001 | +0.5% | −2.1% | −9.1% | +0.4% | +6.9% | −2.4% | −2.7% | −2.0% | −11.2% | +3.2% | +5.1% | +1.5% | −12.8% |
| 2000 | −0.1% | −2.5% | +3.9% | +1.4% | −2.8% | +3.2% | +0.8% | +0.9% | −1.1% | −5.2% | −0.8% | −3.3% | −5.8% |
| 1999 | +5.0% | −0.1% | +2.9% | +4.3% | −0.1% | −0.6% | +4.5% | −3.8% | −0.6% | −1.3% | +7.1% | +2.8% | +21.6% |
| 1998 | +0.2% | +6.4% | +5.3% | +3.4% | −0.2% | +0.1% | +4.5% | −7.0% | −4.9% | +1.3% | +11.0% | +4.1% | +25.5% |
| 1997 | +3.3% | +4.4% | −0.6% | −3.4% | +9.2% | +5.3% | +5.7% | +0.3% | +1.2% | +1.6% | −1.2% | +2.6% | +31.8% |
過去の年、1871～1996年
| 年 | 1月 | 2月 | 3月 | 4月 | 5月 | 6月 | 7月 | 8月 | 9月 | 10月 | 11月 | 12月 | 通年 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1996 | +0.2% | +5.9% | −0.2% | +0.2% | +2.4% | +1.3% | −3.5% | +3.1% | +2.0% | +4.1% | +5.1% | +1.2% | +23.6% |
| 1995 | +2.5% | +3.8% | +2.6% | +3.2% | +3.3% | +3.2% | +3.5% | +0.5% | +3.7% | +0.9% | +2.4% | +3.4% | +38.4% |
| 1994 | +1.7% | −0.1% | −1.4% | −3.3% | +1.1% | +1.1% | −0.5% | +3.1% | +0.8% | −0.4% | −0.4% | −1.0% | +0.5% |
| 1993 | +0.1% | +1.7% | +2.2% | −1.3% | +0.7% | +0.9% | +0.1% | +1.8% | +1.4% | +1.2% | 0.0% | +0.9% | +10.0% |
| 1992 | +7.4% | −0.6% | −1.0% | +0.3% | +2.1% | −1.3% | +1.9% | +0.9% | +0.4% | −1.2% | +2.8% | +3.3% | +15.5% |
| 1991 | −0.7% | +11.6% | +3.0% | +2.3% | −0.2% | +0.3% | +0.8% | +2.7% | −0.3% | +0.2% | 0.0% | +0.9% | +22.1% |
| 1990 | −2.2% | −2.5% | +2.7% | +0.2% | +3.9% | +3.2% | +0.2% | −7.9% | −4.3% | −2.3% | +3.0% | +4.6% | −2.4% |
| 1989 | +3.5% | +3.3% | −0.2% | +3.6% | +4.1% | +3.4% | +2.8% | +4.7% | +0.5% | +0.3% | −1.8% | +2.7% | +30.2% |
| 1988 | +4.2% | +3.3% | +3.2% | −0.9% | −2.2% | +6.0% | −0.3% | −1.7% | +1.9% | +3.8% | −2.0% | +2.3% | +18.8% |
| 1987 | +6.7% | +6.5% | +4.4% | −0.9% | +0.2% | +4.5% | +3.1% | +6.5% | −3.0% | −11.9% | −12.3% | −1.3% | −0.1% |
| 1986 | +0.8% | +5.7% | +6.2% | +2.7% | +0.5% | +3.1% | −1.8% | +2.3% | −2.5% | −0.1% | +3.5% | +1.7% | +24.1% |
| 1985 | +4.7% | +5.8% | −0.5% | +1.0% | +2.7% | +2.5% | +2.2% | −1.8% | −1.9% | +1.5% | +6.4% | +5.3% | +31.4% |
| 1984 | +1.6% | −5.1% | +0.4% | +0.5% | −0.3% | −1.8% | −0.9% | +9.2% | +1.4% | −0.4% | +1.3% | −0.7% | +4.7% |
| 1983 | +3.9% | +2.1% | +3.9% | +4.2% | +4.4% | +1.8% | +0.7% | −2.4% | +3.3% | +0.6% | −1.1% | −0.1% | +23.2% |
| 1982 | −4.8% | −1.9% | −2.7% | +5.5% | +0.6% | −5.3% | +0.2% | +0.8% | +12.1% | +8.9% | +4.5% | +1.4% | +19.2% |
| 1981 | 0.0% | −3.1% | +4.1% | +1.3% | −1.6% | +0.9% | −2.0% | +0.8% | −8.3% | +1.7% | +3.0% | +1.2% | −2.5% |
| 1980 | +3.3% | +4.4% | −8.8% | −1.2% | +5.0% | +6.9% | +5.0% | +3.5% | +2.8% | +3.3% | +4.6% | −1.2% | +30.2% |
| 1979 | +4.2% | −1.1% | +2.3% | +2.4% | −1.9% | +2.4% | +1.4% | +5.0% | +1.5% | −3.3% | −0.3% | +4.4% | +18.2% |
| 1978 | −3.4% | −1.0% | +0.3% | +4.8% | +5.5% | +0.7% | −0.1% | +7.3% | +0.4% | −2.8% | −5.4% | +1.9% | +7.8% |
| 1977 | −0.5% | −2.4% | −0.1% | −1.2% | +0.1% | +0.9% | +1.3% | −2.1% | −1.2% | −2.2% | +1.0% | −0.1% | −6.3% |
| 1976 | +9.5% | +4.2% | +0.8% | +1.1% | −0.4% | +0.9% | +2.7% | −0.6% | +2.4% | −3.1% | −0.4% | +3.8% | +22.5% |
| 1975 | +8.6% | +10.8% | +5.0% | +1.5% | +6.7% | +2.9% | +0.4% | −7.0% | −0.9% | +5.0% | +2.0% | −1.2% | +38.0% |
| 1974 | +1.7% | −2.5% | +4.6% | −4.8% | −2.7% | +0.5% | −11.3% | −3.8% | −10.0% | +2.4% | +3.7% | −6.1% | −26.1% |
| 1973 | +1.0% | −3.3% | −1.3% | −1.6% | −2.6% | −2.0% | +1.2% | −1.6% | +2.0% | +4.2% | −6.9% | −6.8% | −16.9% |
| 1972 | +4.4% | +2.1% | +2.6% | +1.3% | −0.8% | +0.5% | −0.5% | +3.8% | −1.2% | +0.4% | +5.3% | +2.3% | +21.9% |
| 1971 | +4.1% | +4.2% | +2.8% | +3.7% | −1.1% | −1.6% | −0.5% | −1.5% | +2.5% | −1.9% | −4.4% | +7.2% | +13.7% |
| 1970 | −0.6% | −3.2% | +2.0% | −2.7% | −11.2% | −0.3% | +0.5% | +3.3% | +6.3% | +2.5% | +0.2% | +7.2% | +2.7% |
| 1969 | −4.0% | −0.2% | −1.9% | +2.3% | +3.5% | −5.0% | −4.2% | −0.3% | +0.6% | +1.3% | +1.0% | −5.0% | −11.7% |
| 1968 | 0.0% | −4.3% | −1.6% | +7.7% | +2.6% | +2.9% | 0.0% | −1.9% | +3.5% | +2.7% | +1.8% | +1.3% | +15.2% |
| 1967 | +4.1% | +3.7% | +2.6% | +2.0% | +2.1% | −1.0% | +2.0% | +1.9% | +1.7% | +0.1% | −2.9% | +3.1% | +20.9% |
| 1966 | +2.0% | −0.4% | −3.9% | +3.3% | −5.0% | −0.6% | 0.0% | −5.8% | −3.2% | −0.6% | +5.3% | +0.7% | −8.3% |
| 1965 | +2.8% | +1.0% | +0.3% | +1.6% | +1.7% | −4.5% | +0.1% | +2.1% | +3.6% | +2.5% | +1.1% | −0.2% | +12.5% |
| 1964 | +3.3% | +1.5% | +2.1% | +1.7% | +1.2% | −0.3% | +4.0% | −1.2% | +2.0% | +2.0% | +0.9% | −1.5% | +16.6% |
| 1963 | +4.1% | +1.6% | −0.1% | +5.0% | +2.3% | +0.2% | −1.2% | +3.0% | +2.9% | +0.5% | −0.3% | +2.4% | +22.2% |
| 1962 | −3.5% | +1.9% | +0.3% | −2.9% | −7.2% | −11.4% | +2.7% | +3.0% | −0.6% | −2.9% | +7.2% | +4.6% | −9.7% |
| 1961 | +5.4% | +4.4% | +3.4% | +2.9% | +1.3% | −1.1% | 0.0% | +3.8% | −0.5% | +1.3% | +4.8% | +1.2% | +30.1% |
| 1960 | −1.5% | −3.6% | −1.1% | +1.6% | −0.6% | +4.0% | −2.2% | +1.5% | −2.7% | −1.7% | +3.5% | +2.7% | −0.4% |
| 1959 | +4.3% | −1.3% | +2.8% | +1.9% | +1.8% | −0.6% | +4.2% | −0.3% | −3.7% | +0.2% | +0.7% | +3.5% | +13.9% |
| 1958 | +2.3% | +0.7% | +2.4% | +0.9% | +3.6% | +2.7% | +3.1% | +4.1% | +2.9% | +4.4% | +3.3% | +2.2% | +37.8% |
| 1957 | −1.9% | −4.0% | +1.6% | +2.6% | +4.2% | +2.0% | +2.3% | −5.2% | −3.7% | −5.9% | −1.8% | +0.3% | −9.7% |
| 1956 | −2.4% | +1.0% | +7.2% | +1.5% | −2.8% | −0.3% | +5.8% | −0.3% | −3.1% | −1.0% | −0.7% | +1.8% | +6.3% |
| 1955 | +2.2% | +3.7% | −0.4% | +3.8% | −0.1% | +6.1% | +7.6% | −0.3% | +4.8% | −4.7% | +7.1% | +1.2% | +35.0% |
| 1954 | +3.0% | +2.7% | +2.6% | +4.4% | +4.4% | +1.2% | +4.5% | +2.4% | +2.7% | +2.7% | +4.3% | +5.0% | +48.1% |
| 1953 | +1.0% | −0.8% | +1.0% | −4.5% | +1.0% | −3.1% | +1.9% | +0.9% | −4.1% | +3.5% | +2.7% | +1.8% | +1.0% |
| 1952 | +3.8% | −1.3% | +0.8% | +0.2% | +0.5% | +3.2% | +3.4% | +0.9% | −1.1% | −1.6% | +3.7% | +4.5% | +17.9% |
| 1951 | +8.0% | +4.3% | −1.1% | +1.9% | +0.6% | −1.1% | +2.4% | +5.0% | +3.1% | 0.0% | −2.3% | +3.6% | +26.8% |
| 1950 | +2.6% | +2.5% | +1.4% | +3.4% | +3.9% | +2.2% | −6.7% | +6.7% | +4.1% | +4.7% | +0.4% | +0.2% | +27.9% |
| 1949 | +1.6% | −3.3% | +1.5% | +0.4% | −0.2% | −4.9% | +6.3% | +4.2% | +1.9% | +3.2% | +2.0% | +3.3% | +16.5% |
| 1948 | −0.9% | −4.4% | +1.9% | +8.2% | +5.3% | +4.6% | −2.0% | −2.5% | −0.7% | +3.2% | −5.1% | −0.1% | +6.9% |
| 1947 | +0.9% | +4.3% | −3.7% | −3.3% | −1.4% | +3.9% | +6.7% | −1.6% | −2.2% | +3.0% | −0.7% | −1.1% | +4.5% |
| 1946 | +4.3% | +0.6% | −2.7% | +6.8% | +0.5% | −0.3% | −2.5% | −1.6% | −14.4% | −1.9% | 0.0% | +3.4% | −9.1% |
| 1945 | +3.4% | +3.7% | +0.3% | +2.9% | +4.2% | +2.2% | −1.7% | +0.7% | +7.2% | +4.5% | +3.6% | +2.0% | +38.1% |
| 1944 | +3.7% | −0.2% | +3.2% | −1.3% | +2.2% | +5.1% | +3.0% | −1.1% | −1.2% | +2.9% | −0.3% | +2.6% | +20.0% |
| 1943 | +6.5% | +6.4% | +4.0% | +3.8% | +4.4% | +2.2% | +2.5% | −4.5% | +2.6% | −0.5% | −4.2% | +1.8% | +27.0% |
| 1942 | +2.6% | −2.5% | −4.8% | −3.5% | +1.9% | +5.7% | +4.4% | 0.0% | +1.6% | +8.0% | +2.1% | +1.0% | +17.2% |
| 1941 | +0.7% | −5.7% | +1.2% | −2.5% | −1.6% | +4.1% | +5.7% | +0.1% | +0.9% | −3.4% | −4.1% | −5.9% | −10.7% |
| 1940 | −0.1% | −0.2% | −0.1% | +1.4% | −13.3% | −8.1% | +3.9% | +2.7% | +4.8% | +1.5% | +2.9% | −3.6% | −9.7% |
| 1939 | −1.2% | −0.5% | +0.3% | −12.2% | +4.1% | +2.2% | +2.8% | −1.1% | +11.1% | +1.4% | −1.4% | −2.0% | +2.0% |
| 1938 | +3.2% | −1.8% | −6.0% | −3.5% | +1.5% | +2.9% | +20.5% | +1.0% | −4.1% | +11.6% | +0.4% | −2.6% | +22.5% |
| 1937 | +3.5% | +3.3% | +0.2% | −5.6% | −4.1% | −3.3% | +6.4% | +1.4% | −13.8% | −14.1% | −8.3% | −1.0% | −31.9% |
| 1936 | +5.8% | +6.0% | +2.4% | +0.4% | −5.0% | +4.6% | +6.2% | +2.3% | +1.5% | +5.6% | +3.1% | −1.4% | +35.8% |
| 1935 | +0.4% | −2.6% | −5.9% | +7.9% | +8.3% | +4.2% | +5.6% | +7.1% | +2.4% | +3.0% | +9.7% | +0.3% | +47.0% |
| 1934 | +6.1% | +7.7% | −4.8% | +2.0% | −9.8% | +1.7% | −4.4% | −3.5% | −2.0% | +1.2% | +3.2% | +1.1% | −2.8% |
| 1933 | +4.6% | −11.3% | +0.3% | +11.2% | +29.3% | +17.6% | +8.5% | −4.6% | −0.5% | −9.4% | +2.8% | +2.3% | +54.4% |
| 1932 | −0.9% | −0.1% | +1.1% | −23.3% | −11.3% | −12.4% | +6.1% | +51.3% | +10.3% | −13.2% | −0.4% | −2.7% | −11.0% |
| 1931 | +3.5% | +8.1% | +2.4% | −9.1% | −9.2% | −2.7% | +3.8% | −2.5% | −14.4% | −12.8% | +2.0% | −18.1% | −41.8% |
| 1930 | +1.8% | +6.6% | +4.1% | +6.7% | −5.7% | −9.8% | −1.8% | −0.9% | +0.3% | −13.4% | −6.8% | −6.2% | −24.0% |
| 1929 | +7.7% | +0.8% | +2.1% | −0.3% | +1.8% | +2.2% | +9.2% | +6.0% | +4.2% | −10.3% | −26.2% | +4.4% | −4.2% |
| 1928 | +0.8% | −0.8% | +5.7% | +6.7% | +3.4% | −4.6% | +1.1% | +3.6% | +7.4% | +2.4% | +7.1% | +0.7% | +38.1% |
| 1927 | −0.2% | +2.4% | +2.0% | +2.9% | +3.9% | +1.7% | +2.6% | +5.7% | +6.1% | −1.2% | +2.7% | +2.7% | +35.8% |
| 1926 | +1.9% | +0.6% | −6.4% | −2.3% | +1.2% | +5.2% | +4.7% | +4.4% | +1.9% | −1.8% | +1.7% | +2.7% | +14.0% |
| 1925 | +4.6% | +1.3% | −2.2% | −0.6% | +3.7% | +2.2% | +3.2% | +1.8% | +2.7% | +3.7% | +3.5% | +2.0% | +29.2% |
| 1924 | +3.8% | +1.0% | −1.4% | −1.8% | +0.2% | +2.4% | +5.2% | +3.9% | −0.5% | −0.8% | +6.1% | +5.9% | +26.1% |
| 1923 | +1.9% | +4.8% | +2.1% | −3.0% | −4.3% | −3.3% | −2.8% | +1.0% | +1.2% | −0.9% | +3.5% | +3.9% | +3.5% |
| 1922 | +0.4% | +2.7% | +4.3% | +6.6% | +4.4% | −0.5% | +1.2% | +4.2% | +3.1% | +2.7% | −4.5% | +0.3% | +27.3% |
| 1921 | +5.0% | −0.1% | −2.0% | +1.0% | +3.6% | −7.4% | +0.3% | −0.6% | +3.1% | +2.0% | +6.0% | +4.1% | +15.2% |
| 1920 | −0.5% | −7.8% | +7.6% | −0.3% | −5.8% | −1.2% | +0.4% | −3.4% | +4.1% | +0.7% | −4.5% | −8.4% | −18.5% |
| 1919 | 0.0% | +1.0% | +3.6% | +3.9% | +7.5% | +3.2% | +3.8% | −6.3% | +2.1% | +5.6% | −2.5% | −2.5% | +20.2% |
| 1918 | +6.9% | +3.8% | −1.3% | −0.2% | +3.9% | +0.8% | +1.5% | +1.6% | +0.1% | +4.9% | +3.2% | −1.4% | +26.2% |
| 1917 | −1.9% | −5.1% | +3.6% | −1.0% | −2.8% | +2.6% | −2.2% | −2.3% | −4.2% | −4.7% | −7.6% | −2.6% | −25.2% |
| 1916 | −1.2% | −1.0% | +0.1% | −0.7% | +2.6% | +1.4% | −0.9% | +1.2% | +4.6% | +3.6% | +2.8% | −3.6% | +9.0% |
| 1915 | +2.2% | −0.9% | +3.1% | +8.0% | −1.9% | +1.6% | +0.1% | +4.7% | +4.1% | +6.0% | +3.9% | +0.6% | +35.8% |
| 1914 | +4.6% | +1.8% | −1.4% | −1.9% | +1.1% | 0.0% | −5.1% | +0.5% | +0.5% | +0.5% | +0.5% | −3.8% | −3.3% |
| 1913 | −0.4% | −3.1% | −1.4% | +0.3% | −2.3% | −4.6% | +1.8% | +3.2% | +1.4% | −2.7% | −2.1% | +0.4% | −9.3% |
| 1912 | +0.5% | −0.4% | +3.3% | +3.5% | +0.3% | +0.4% | +0.5% | +2.7% | +0.9% | +0.2% | −0.7% | −3.2% | +8.2% |
| 1911 | +2.9% | +2.1% | −0.8% | 0.0% | +2.6% | +2.4% | 0.0% | −4.4% | −5.0% | +1.0% | +4.5% | +0.9% | +5.9% |
| 1910 | −1.8% | −3.2% | +2.9% | −2.0% | −1.3% | −4.4% | −4.6% | +2.9% | +1.1% | +5.0% | +0.3% | −2.4% | −7.7% |
| 1909 | +0.7% | −2.5% | +1.8% | +4.9% | +3.7% | +2.1% | +1.8% | +2.8% | +0.5% | +0.7% | −0.1% | +1.5% | +19.1% |
| 1908 | +4.8% | −3.1% | +4.6% | +5.9% | +5.9% | +0.6% | +4.1% | +4.7% | −0.7% | +1.6% | +7.2% | +2.6% | +45.1% |
| 1907 | −2.5% | −2.8% | −9.5% | +0.9% | −3.0% | −2.8% | +4.3% | −7.1% | −0.6% | −10.4% | −5.3% | +5.7% | −29.5% |
| 1906 | +3.8% | −0.4% | −2.2% | −1.1% | −2.3% | +1.6% | −2.2% | +7.7% | +3.4% | −2.7% | +2.4% | −0.6% | +7.2% |
| 1905 | +2.5% | +4.7% | +3.1% | −0.9% | −4.6% | +1.5% | +3.5% | +4.0% | +0.6% | +1.7% | −0.2% | +2.8% | +19.8% |
| 1904 | +2.1% | −2.3% | +0.1% | +2.9% | −1.7% | +0.6% | +4.6% | +3.8% | +4.8% | +6.2% | +5.8% | +1.3% | +31.6% |
| 1903 | +5.4% | −0.3% | −3.6% | −3.7% | −1.6% | −5.2% | −4.2% | −2.8% | −2.0% | −2.8% | +0.8% | +5.1% | −14.4% |
| 1902 | +2.5% | +1.2% | +0.5% | +3.7% | +0.1% | −0.3% | +2.6% | +3.0% | +0.5% | −2.9% | −3.5% | −2.0% | +5.2% |
| 1901 | +3.3% | +2.9% | +3.9% | +8.7% | −4.7% | +10.3% | −6.4% | +1.7% | −0.2% | −0.8% | +2.5% | −1.3% | +20.4% |
| 1900 | +1.6% | +2.1% | +1.1% | +1.6% | −4.4% | −2.6% | +0.4% | +1.7% | −2.0% | +4.0% | +8.2% | +6.4% | +19.0% |
| 1899 | +7.9% | +4.1% | +1.7% | +1.5% | −3.9% | −2.0% | +3.7% | +2.8% | −0.8% | −0.2% | +2.2% | −6.5% | +10.1% |
| 1898 | +3.1% | +0.1% | −4.2% | −1.4% | +6.9% | +4.2% | +0.7% | +4.1% | +0.1% | −1.8% | +3.6% | +6.5% | +23.5% |
| 1897 | +0.4% | −0.6% | +0.6% | −2.7% | +0.9% | +5.0% | +4.8% | +6.8% | +5.2% | −2.9% | −3.2% | +2.5% | +17.2% |
| 1896 | −0.8% | +4.6% | −1.2% | +1.3% | −0.1% | −1.5% | −6.1% | −5.3% | +5.6% | +2.6% | +7.2% | −3.3% | +2.0% |
| 1895 | −0.8% | −1.0% | +0.4% | +4.7% | +5.9% | +2.3% | +0.8% | +1.8% | +1.0% | −1.1% | −3.0% | −5.5% | +5.0% |
| 1894 | −1.6% | +1.9% | +3.4% | +1.8% | −3.3% | −0.9% | −1.6% | +4.2% | +2.0% | −2.7% | +0.4% | −0.5% | +2.7% |
| 1893 | +2.2% | −1.4% | −3.3% | +0.4% | −8.5% | −4.3% | −8.9% | −1.9% | +7.6% | +3.4% | +2.0% | −3.0% | −15.7% |
| 1892 | +2.2% | +0.5% | +1.4% | +0.2% | +0.3% | −0.2% | +0.3% | +1.8% | −2.1% | +2.4% | 0.0% | −0.7% | +6.2% |
| 1891 | +5.6% | +1.6% | −1.5% | +3.7% | 0.0% | −1.6% | −1.3% | +3.7% | +8.5% | +0.3% | −1.2% | +3.4% | +22.9% |
| 1890 | +1.5% | −0.8% | −0.4% | +2.4% | +4.6% | −0.4% | −0.4% | −2.0% | −1.3% | −4.2% | −6.9% | −1.9% | −9.8% |
| 1889 | +2.3% | +1.5% | −1.7% | +0.2% | +3.1% | +2.0% | −1.7% | +1.7% | +2.8% | −1.5% | −0.6% | −0.2% | +8.0% |
| 1888 | +1.2% | −0.2% | −3.4% | +0.8% | +1.8% | −2.7% | +3.0% | +2.5% | +2.8% | −0.2% | −1.7% | −1.5% | +2.1% |
| 1887 | −0.7% | −0.4% | +2.7% | +2.6% | +2.1% | −2.5% | −2.1% | −2.1% | −0.9% | −3.0% | +2.3% | −0.2% | −2.5% |
| 1886 | +0.4% | +2.3% | −1.7% | −1.0% | −1.6% | +5.0% | +1.9% | +1.1% | +3.0% | +2.9% | +2.8% | −2.3% | +13.2% |
| 1885 | −1.7% | +3.7% | +0.8% | +0.3% | −0.6% | +0.1% | +4.2% | +6.1% | −0.8% | +6.3% | +6.9% | −0.4% | +27.2% |
| 1884 | −2.5% | +3.2% | +0.1% | −4.0% | −7.6% | −3.5% | +0.6% | +6.9% | −2.6% | −2.7% | −1.4% | +0.4% | −13.1% |
| 1883 | −0.1% | −1.8% | +1.7% | +2.6% | −1.2% | +1.3% | −1.1% | −4.1% | +1.6% | −2.2% | +2.0% | −1.7% | −3.1% |
| 1882 | −1.1% | −1.7% | +0.3% | +0.5% | −0.7% | −0.1% | +6.1% | +3.4% | +1.4% | −2.3% | −3.8% | +1.0% | +2.6% |
| 1881 | +6.4% | 0.0% | +1.5% | +0.1% | +4.9% | +1.6% | −3.1% | −2.0% | +1.2% | −1.2% | +1.1% | −2.5% | +7.8% |
| 1880 | +4.2% | +2.1% | +2.3% | −1.9% | −7.6% | +0.8% | +5.0% | +4.0% | +0.2% | +3.3% | +5.7% | +4.5% | +24.1% |
| 1879 | +4.2% | +4.1% | −1.2% | +3.7% | +4.9% | +0.9% | +2.4% | +1.1% | +4.1% | +11.3% | +5.7% | +0.1% | +49.4% |
| 1878 | +0.5% | −1.7% | +2.4% | +3.3% | +0.8% | +2.6% | +2.5% | −0.4% | +2.5% | −0.7% | +0.1% | −0.1% | +12.1% |
| 1877 | −0.2% | −5.3% | −4.4% | −6.6% | +0.7% | −6.4% | +5.1% | +7.7% | +6.8% | +2.7% | −1.0% | +0.2% | −2.0% |
| 1876 | +2.6% | +1.9% | +0.3% | −3.2% | −3.1% | −0.1% | −0.6% | −3.5% | −5.5% | +0.1% | −1.2% | +0.1% | −11.8% |
| 1875 | +0.6% | +0.4% | +1.9% | +1.9% | −3.3% | −1.4% | +0.8% | +1.0% | −0.3% | −1.0% | +2.2% | +0.6% | +3.3% |
| 1874 | +6.1% | +3.6% | −0.9% | −2.2% | −2.0% | +0.2% | +0.6% | +0.8% | +2.2% | +0.4% | +1.5% | −0.1% | +10.4% |
| 1873 | +1.3% | +1.3% | −0.3% | −0.9% | +0.7% | −0.9% | +0.3% | +0.5% | −7.1% | −8.1% | −2.9% | +10.1% | −6.9% |
| 1872 | +3.0% | +0.9% | +3.7% | +3.2% | +0.4% | −0.5% | −0.1% | −0.7% | −1.3% | +0.9% | +0.1% | +2.9% | +13.1% |
| 1871 | +1.8% | +2.9% | +3.3% | +3.0% | −0.4% | −1.4% | +1.7% | +1.5% | −4.7% | +1.6% | +2.6% | +12.3%* |
各セル：月平均から計算した、前月に対するその月の配当込みリターン。通年は上の表と同じです。色の濃さは1, 2, 4, 7と10%で段階的に変わり、それより大きい動きは最も濃い色のままです。* 1年に満たない期間。 データ：ロバート・J・シラー（イェール大学） · インフレ：米国CPI、シラーのデータ.
バリュエーション：シラーPERと配当利回り
ロバート・シラーの景気循環調整後PER（CAPE）は、株価を過去10年間の利益の平均で割ったもので、どちらもインフレ調整後です。これにより景気循環の影響がならされます。1881以降の平均は17.8で、2026年10月は40.7、最高は1999年12月の44.2でした。高い値の後は、その後10年間のリターンが平均的に低くなる傾向がありましたが、この比率から今後数か月のことはほとんどわかりません。
シラーPER（CAPE）長期平均、17.8
配当利回り
直近12か月に支払われた配当を指数で割った値：2026年10月は1.06%、最高は1932年6月の13.8%でした。最新の数か月は、最後に公表された配当を引き継いでいます（2026年7月から推定）。
計算方法
- データ：ロバート・J・シラー、Online Data（イェール大学）：S&P総合指数（S&P 500と、1957年以前はその前身の指数）、配当、利益、景気循環調整後PER、米国の消費者物価。1871年1月からの月次。
- 月平均：各月は日次終値の平均なので、月末や日中の値とは数字が異なり、短期の暴落は浅く見えます。最新の数か月は暫定値です（シラーの注記：Oct price is Oct 2nd close; Sept/Oct CPI estimated; Oct GS10 is Oct 2nd value）。配当は2026年7月から推定です。
- 配当込み：毎月配当を再投資します。指数は、その月の価格の変化に年間配当の12分の1を加えた分だけ伸びます（シラーの方法）。手数料と税金は考慮していません。
- インフレ調整後（ページ上部の切り替え）：すべての値を、米国の消費者物価（シラーのデータによるCPI-U）で10月 2026のドルに換算しています。10月 2026のCPIを掛け、その月自身のCPIで割ります。最新の数か月は暫定値です。
- 下落：各月平均の、それまでの最高の月平均からの距離です。過去最高から20%下回った時点から下落とみなし、その最高値を上回った最初の月に終わります。表示値とインフレ調整後で別々に求めています。
- 暦年と月：12月の平均を前の12月と比べます（1871年は1月から、今年は最新の月まで）。月は前の月と比べます。
- シラーPER（CAPE）：シラー自身の列で、実質株価を、それ以前10年間の実質利益の平均で割った値です（1881年から）。配当利回り：12か月分の配当を月平均の株価で割った値です。どちらの比率も、インフレ調整の切り替えには左右されません。
- ローソク足と棒グラフ：四半期または年ごとに1本、月平均から作ります。各本は、その直前の月で始まり、高値と安値はその期間の月平均の最高値と最安値であり、日次の価格ではありません。
- 投資の助言ではありません。過去のリターンや過去の暴落は、この先に起こることを示すものではありません。