| convexity |
A volatility measure for bonds used in conjunction with modified duration in order to measure how the bond's price will change as interest rates change. It is equal to the negative of the second derivative of the bond's price relative to its yield, divided by its price. For example, since a non-callable bond's duration usually increases as interest rates decrease, its convexity is positive.
출처: apsam.net/shared/glossary.htm
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| convexity |
It is a measure of the shape of the price/yield curve relationship. Convexity explains the difference between price change estimated by a bond's DURATION and its actual price change when market yields change.
출처: macrs.org/library_glossary-C.html
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| convex |
not having indentations. Technically, a polygon or polyhedron is convex when the segment joining any two of its points lies entirely within it. For example, a pentagon and the regular dodecahedron are convex, but a pentagram and the small stellated dodecahedron are nonconvex. convex hull: the smallest convex polyhedron including a given polyhedron. For example, the convex hull of the small stellated dodecahedron is the regular icosahedron. cube: the Platonic solid having six square faces. ...
출처: websites.quincy.edu/~matskvi/ddd/glossary.html
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