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As the US stock market plods along higher and higher the attractiveness of it's equities must in turn appear more risky to the sophisticated investor. Running screens to find sure fire winners back in July and August was a cake walk, as value abounded in a frightened market. This has since gone away with the uptick of the past nine months. An investor trying to open new positions should perhaps consider diversification into some non-US equities that lend themselves to more of a value oriented investing philosophy.

Here are 5 large cap foreign issues that have practically non-existent short floats and projected forward price to earnings ratios under 10.

1. Statoil (NYSE:STO)

Projected Forward P/E: 7.85

Short Float: .38%

Norwegian large cap oil player boasts some attractive qualities that lend themselves to a reasonable margin of safety, including

P/FCF of 3.52

P/C of 5.63

PEG of 0.68

Projected EPS growth next 5 years of 9.6%

Dividend of 3.71%

RSI of 42.13 and a visual chart look of a stock apt to rebound.

2. Nippon Telephone and Telegraph Corporation (NYSE:NTT)

Projected Forward P/E: 6.28

Short Float: .04%

This Japanese large cap telecom firm's attractive metrics include

Dividend of 4.37%

P/B of .64

P/C of 4.55

Projected EPS growth next 5 years of 9.2%

Mean Analyst recommendation of 1.0 and a price target of $28, suggesting roughly 28% upside potential.

3. ING (NYSE:ING)

Projected Forward P/E: 4.25

Short float: .15%

Whenever Europe catches a cold it seems like ING catches whooping cough, ING dipped down into the $5.70 range last year only to peak past $10 early in 2013, most of that movement owing to the debt crisis drama. ING should be an attractive candidate both to the longer horizon investor and a medium term trader.

It's attractive metrics include

P/B of .40

Projected EPS growth next 5 years of 27.9%

Profit margin of 6.65%

PEG of .31

4. Posco (NYSE:PKX)

Projected Forward P/E: 8.36

Short Float: .22%

South Korean steel player has found itself in a nosedive since the start of March, an RSI of 18.79 generally is considered massively oversold. No doubt rumblings from the new dictator to the north isn't helping any issue based in South Korea. Keeping that in mind, PKX still presents some attractive qualities, including

PEG of 0.67

P/B of .63

Projected EPS growth next 5 years of 15.15%

1.53% off of it's 52 week low

5. Aegon N.V (NYSE:AEG)

Projected Forward P/E: 6.41

Short Float: .06%

A strong recent performer in the insurance industry with prospects for growth, it's attractive qualities also include

P/B of .30

P/S of .2

Dividend of 4.07%

Source: 5 Cheap Non-U.S. Large Caps That Practically No One Is Betting Against