Incidentally, lots of other stuff can be done with this data. For example, if we know P/E and P/B, then we can derive E/B or ROE. And plot it over a period of time. It will be quite revealing if you do that.
AAA bond yields and their comparison with E/P (the reciprocal of P/E or earnings yield) will also be useful.
One could also compute 3 or 5-year forward returns from investing at the valuation in each rectangle to see if there is some relationship with valuation multiples and forward returns.
Relationship between the valuation multiples of large caps, mid caps, and small caps can also provide food for thought. And so on...
Adding Vix (the fear index) would also be a good idea.
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