An estimate of the convexity of the price-benchmark yield relation of a bond.
Effective convexity = (V–+ V+ – 2V0) / (V0x Δcurve2)
Δcurve: parallel shift in benchmark yield curve
Compare: Approximate convexity
An estimate of the convexity of the price-benchmark yield relation of a bond.
Effective convexity = (V–+ V+ – 2V0) / (V0x Δcurve2)
Δcurve: parallel shift in benchmark yield curve
Compare: Approximate convexity
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Many years ago, I was exactly where you are today—a CFA Level I candidate juggling a demanding full-time career with the daunting CFA curriculum. Coming from a Computer Engineering background, finance was entirely new territory for me. And yes, it was tough!
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