Difference between revisions of "Manuals/calci/YIELDDISC"

From ZCubes Wiki
Jump to navigation Jump to search
(Created page with "<div id="6SpaceContent" class="zcontent" align="left"> '''YIELDDISC'''(SettlementDate, MaturityDate, Price, Redemption, Basis) where, '''SettlementDate''' - represe...")
 
 
(8 intermediate revisions by 3 users not shown)
Line 1: Line 1:
−
<div id="6SpaceContent" class="zcontent" align="left">
+
<div style="font-size:30px">'''YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)'''</div><br/>
  
−
'''YIELDDISC'''(SettlementDate, MaturityDate, Price, Redemption, Basis)
+
*where <math>Settlement</math> is security's settlement date (a date when coupon or a bond is purchased),
 +
*<math>Maturity</math> is security's maturity date (a date when coupon or a bond expires),  
 +
*<math>Price</math> is the price per $100 face value,
 +
*<math>Redemption</math> is security's redemption value per &#36;100 face value,
 +
*<math>Basis</math> is the type of day count basis to use.
 +
**YIELDDISC(), returns the annual yield for a discounted security; for example, a Treasury bill.
  
−
where,
+
== Description ==
  
−
'''SettlementDate''' - represents the settlement date.
+
YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)
  
−
'''MaturityDate''' - represents the maturity date.
+
*YIELDDISC referred to as 'Discount Yield' is the measure of security's percentage return.
  
−
'''Price''' - represents the price per $100 face value.
+
Formula:-
  
−
'''Redemption''' - is the redemption value per $100 face value.
+
<math>Discount Yield = \frac{(par value - price)}{par value} * \frac{360}{days to maturity}</math>
  
−
'''Basis''' - type of day count basis
+
*<math>Settlement</math> and <math>Maturity</math> dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
 +
*If <math>Settlement</math> date = <math>Maturity</math> date, Calci displays #N/A error message.
 +
*<math>Price</math> and <math>Redemption</math> values must be greater than zero, else Calci displays #N/A error message.
 +
*<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0.
 +
Below table shows the use of <math>Basis</math> values:
  
−
'''Basis              Day count basis'''
+
{| class="wikitable"
 +
|-
 +
! Basis !! Description
 +
|-
 +
| 0 || US (NASD) 30/360
 +
|-
 +
| 1 || Actual/actual
 +
|-
 +
| 2 || Actual/360
 +
|-
 +
| 3 || Actual/365
 +
|-
 +
| 4 || European 30/360
 +
|}
  
−
0 or omitted    US 30/360
+
*If <math>Basis</math> value is other than 0 to 4, Calci displays #N/A error message.
  
−
1                     Actual/actual
+
== Examples ==
  
−
2                     Actual/360
+
YIELDDISC (Settlement,Maturity,Price,Redemption,Basis) function with inputs in order is calculated as follows:
  
−
3                     Actual/365
+
<div id="2SpaceContent" class="zcontent" align="left">
  
−
4                     European 30/360
+
{| id="TABLE3" class="SpreadSheet blue"
 +
|- class="even"
 +
| class="sshl_f" | 1/1/2008
 +
| class="sshl_f" |
  
−
</div>
+
|- class="odd"
−
----
+
| class="sshl_f" | 20/2/2008
−
<div id="1SpaceContent" class="zcontent" align="left">
+
| class="sshl_f" |
  
−
It returns the annual yield for discounted.
+
|- class="even"
 +
| class="sshl_f" | 95.58
 +
| class="sshl_f" |
  
−
</div>
+
|- class="odd"
−
----
+
| class="sshl_f" | 100
−
<div id="7SpaceContent" class="zcontent" align="left">
+
| class="sshl_f" |
  
−
If Basis &lt; 0 or Basis &gt; 4 , YIELDDISC returns the #ERROR.
+
|- class="even"
 +
| class="sshl_f" | 2
 +
| class="sshl_f" |
  
−
If  Price &lt;= 0 or Redemption &lt;=0, it returns the #ERROR.
+
|}
  
−
If SettlementDate &gt;= MaturityDate, YIELDDISC returns #ERROR.
+
=YIELDDISC(A1,A2,A3,A4,A5) : Calculates the discount yield Value with the inputs in the range A1 to A5. Returns '''33.3%''' as a result.
 +
=YIELDDISC(DATE(2007,1,1), DATE(2008,2,20), 85.12, 100) : Calculates the discount yield Value with the inputs. Returns '''15.39%''' as a result.
  
−
</div>
+
==Related Videos==
−
----
 
−
<div id="12SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="left">
 
  
−
YIELDDISC
+
{{#ev:youtube|v=RhNtIcbpfXA|280|center|YIELDDISC}}
  
−
</div></div>
+
== See Also ==
−
----
 
−
<div id="8SpaceContent" class="zcontent" align="left">
 
  
−
Lets see an example in (Column1, Row6)
+
*[[Manuals/calci/YIELD | YIELD]]
 +
*[[Manuals/calci/YIELDMAT | YIELDMAT]]
  
−
<nowiki>=YIELDDISC(R1C1, R2C1, R3C1, R4C1, R5C1)</nowiki>
+
== References ==
  
−
YIELDDISC returns 5.7543.
+
*[http://en.wikipedia.org/wiki/Yield_(finance) Yield]
 +
*[http://en.wikipedia.org/wiki/Discounting Discount Yield]
 +
*[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention]
  
−
Consider another example
 
  
−
<nowiki>=YIELDDISC(date(2007,1,1), date(2008,2,20), 85.12, 100,5)</nowiki>
 
  
−
It returns #ERROR(Basis=5).
 
  
−
</div>
+
*[[Z_API_Functions | List of Main Z Functions]]
−
----
 
−
<div id="10SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Syntax </div><div class="ZEditBox"><center></center></div></div>
 
−
----
 
−
<div id="4SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Remarks </div></div>
 
−
----
 
−
<div id="3SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Examples </div></div>
 
−
----
 
−
<div id="11SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Description </div></div>
 
−
----
 
−
<div id="2SpaceContent" class="zcontent" align="left">
 
−
 
 
−
{| id="TABLE3" class="SpreadSheet blue"
 
−
|- class="even"
 
−
| class=" " |
 
−
| class="  " | Column1
 
−
| Column2
 
−
| Column3
 
−
| Column4
 
−
|- class="odd"
 
−
| class=" " | Row1
 
−
| class=" " | 1/1/2008
 
−
| 0
 
−
| 0
 
−
| 0
 
−
|- class="even"
 
−
| class="  " | Row2
 
−
| class=" " | 2/20/2008
 
−
| 0
 
−
| 0
 
−
| 0
 
−
|- class="odd"
 
−
| Row3
 
−
| class=" " | 55.58
 
−
| 0
 
−
| 0
 
−
| 0
 
−
|- class="even"
 
−
| Row4
 
−
| class=" " | 100
 
−
| 0
 
−
| 0
 
−
| 0
 
−
|- class="odd"
 
−
| class=" " | Row5
 
−
| class="sshl_f " | 2
 
−
| 0
 
−
| 0
 
−
| 0
 
−
|- class="even"
 
−
| class="sshl_f" | Row6
 
−
| class="sshl_f" | 5.7543
 
−
| class="sshl_f" |
 
−
| class="sshl_f" |
 
−
| class="sshl_f" |
 
−
|- class="odd"
 
−
| class="sshl_f" | Row7
 
−
| class=" SelectTD ChangeBGColor SelectTD" |
 
−
<div id="2Space_Handle" class="zhandles" title="Click and Drag to resize CALCI Column/Row/Cell. It is EZ!"></div><div id="2Space_Copy" class="zhandles" title="Click and Drag over to AutoFill other cells."></div><div id="2Space_Drag" class="zhandles" title="Click and Drag to Move/Copy Area.">[[Image:copy-cube.gif]]  </div>
 
−
| 0
 
−
| 0
 
−
| 0
 
−
|}
 
  
−
<div align="left">[[Image:calci1.gif]]</div></div>
+
*[[ Z3 |  Z3 home ]]
−
----
 

Latest revision as of 15:06, 16 November 2018

YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)


  • where Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Settlement} is security's settlement date (a date when coupon or a bond is purchased),
  • Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Maturity} is security's maturity date (a date when coupon or a bond expires),
  • Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Price} is the price per $100 face value,
  • Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Redemption} is security's redemption value per $100 face value,
  • Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} is the type of day count basis to use.
    • YIELDDISC(), returns the annual yield for a discounted security; for example, a Treasury bill.

Description

YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)

  • YIELDDISC referred to as 'Discount Yield' is the measure of security's percentage return.

Formula:- 

Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Discount Yield = \frac{(par value - price)}{par value} * \frac{360}{days to maturity}}
  • Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Settlement} and Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Maturity} dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
  • If Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Settlement} date = Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Maturity} date, Calci displays #N/A error message.
  • Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Price} and Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Redemption} values must be greater than zero, else Calci displays #N/A error message.
  • Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} value is optional. If omitted, Calci assumes it to be 0.

Below table shows the use of Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} values:

Basis Description
0 US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360
  • If Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} value is other than 0 to 4, Calci displays #N/A error message.

Examples

YIELDDISC (Settlement,Maturity,Price,Redemption,Basis) function with inputs in order is calculated as follows:

1/1/2008
20/2/2008
95.58
100
2 
=YIELDDISC(A1,A2,A3,A4,A5) : Calculates the discount yield Value with the inputs in the range A1 to A5. Returns 33.3% as a result.
=YIELDDISC(DATE(2007,1,1), DATE(2008,2,20), 85.12, 100) : Calculates the discount yield Value with the inputs. Returns 15.39% as a result.

Related Videos

YIELDDISC

See Also

References



Retrieved from "http://wiki.zcubes.com/index.php?title=Manuals/calci/YIELDDISC&oldid=211354"