Sweden
What one unit of currency became
Invested in 1883 and held to 2020, after inflation. Equities ended at 4369.9x, housing at 30732.5x, bonds at 31.2x and bills at 5.8x. The scale is logarithmic, because over a century of compounding a linear axis would flatten three of these four lines into the floor. The dashed line is 1.0: below it, the asset lost purchasing power.
Source: Jorda-Schularick-Taylor Macrohistory Database, Release 6 (Jorda, Knoll, Kuvshinov, Schularick & Taylor) Compounded over the 138 years in which all four assets were reported. Shaded bars are JST's own banking-crisis years. Methodology
Compound annual real return
| Asset | Real return | Excluding the wars | Volatility | Observations | Span |
|---|---|---|---|---|---|
| Equities | 6.33% | 7.42% | 19.35 | 150 | 1871-2020 |
| Housing | 7.78% | 8.52% | 8.78 | 138 | 1883-2020 |
| Bonds | 2.67% | 3.77% | 10.83 | 150 | 1871-2020 |
| Bills | 1.49% | 2.24% | 5.55 | 150 | 1871-2020 |
Source: Jorda-Schularick-Taylor Macrohistory Database, Release 6 (Jorda, Knoll, Kuvshinov, Schularick & Taylor) Nominal returns deflated by JST's own consumer price index. 1 observation is flagged by JST as interpolated and included. Methodology
Coverage for Sweden
Equities 150 years, housing 138, bonds 150, bills 151. JST flags 6 banking crisis years for this country, marked on the chart. An average taken over a short series is a weaker statistic than one taken over a long series, and the counts are here so you can tell which you are reading.