Calcolatore Rendimento Obbligazioni
YTM (annuo)
5.661689 %
Current yield
5.263158 %
Duration di Macaulay (anni)
7.927278
Modified duration
7.709047
Convessità
72.408905
Domande Frequenti
Reddito fisso
Cos'è lo YTM?
Yield to Maturity: rendimento annualizzato se l'obbligazione viene mantenuta a scadenza, ipotizzando reinvestimento delle cedole allo stesso tasso.
Differenza tra duration e modified duration?
Macaulay: media ponderata dei tempi di flusso (in anni). Modified = Macaulay/(1+y): stima percentuale di variazione del prezzo per +1% di rendimento. La convessità corregge l'approssimazione lineare.
What is needed to work out the yield of a bond?
The face value, the market price, the annual coupon as a percentage, the years left to maturity and how many coupons are paid each year.
What does yield to maturity mean?
Yield to maturity is the annualised return you get by holding the bond to the end, assuming every coupon received is reinvested at that same rate.
What is the difference between Macaulay and modified duration?
Macaulay duration is the average timing of the cash flows weighted by present value, in years. Modified duration divides it by (1+y) and estimates the percentage move in price.