Long-term pricing
Valuation Attractiveness
How attractively the market is priced relative to its own history. Useful for expected returns, not short-term timing.
Market pricing level
This asks whether investors are paying a high or low price for the market's earnings. Expensive markets can still rise, but future long-term returns may have less room for error.
Pricing compared with history
This shows whether today's pricing is normal or stretched compared with the past. A high raw percentile means expectations are already high, so Valuation Attractiveness will be lower.