| convexity |
Convexity relates to the shape of the price/yield relationship in a fixed income instrument.
출처: candela-capital.com/glossary.htm
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| 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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