Difference between revisions of "Manuals/calci/YIELDDISC"
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| − | =YIELDDISC( | + | <div style="font-size:30px">'''YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)'''</div><br/> |
| − | *where <math> | + | *where <math>Settlement</math> is security's settlement date (a date when coupon or a bond is purchased), |
| − | *<math> | + | *<math>Maturity</math> is security's maturity date (a date when coupon or a bond expires), |
| − | *<math> | + | *<math>Price</math> is the price per $100 face value, |
| − | *<math> | + | *<math>Redemption</math> is security's redemption value per $100 face value, |
| − | *<math> | + | *<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. | |
| − | YIELDDISC() | ||
== Description == | == Description == | ||
| − | YIELDDISC( | + | YIELDDISC (Settlement,Maturity,Price,Redemption,Basis) |
*YIELDDISC referred to as 'Discount Yield' is the measure of security's percentage return. | *YIELDDISC referred to as 'Discount Yield' is the measure of security's percentage return. | ||
| Line 19: | Line 18: | ||
<math>Discount Yield = \frac{(par value - price)}{par value} * \frac{360}{days to maturity}</math> | <math>Discount Yield = \frac{(par value - price)}{par value} * \frac{360}{days to maturity}</math> | ||
| − | *<math> | + | *<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> | + | *If <math>Settlement</math> date = <math>Maturity</math> date, Calci displays #N/A error message. |
| − | *<math> | + | *<math>Price</math> and <math>Redemption</math> values must be greater than zero, else Calci displays #N/A error message. |
| − | *<math> | + | *<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0. |
| − | Below table shows the use of <math> | + | Below table shows the use of <math>Basis</math> values: |
{| class="wikitable" | {| class="wikitable" | ||
| Line 40: | Line 39: | ||
|} | |} | ||
| − | *If <math> | + | *If <math>Basis</math> value is other than 0 to 4, Calci displays #N/A error message. |
== Examples == | == Examples == | ||
| − | YIELDDISC( | + | YIELDDISC (Settlement,Maturity,Price,Redemption,Basis) function with inputs in order is calculated as follows: |
<div id="2SpaceContent" class="zcontent" align="left"> | <div id="2SpaceContent" class="zcontent" align="left"> | ||
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|- class="odd" | |- class="odd" | ||
| − | | class="sshl_f" | | + | | class="sshl_f" | 100 |
| class="sshl_f" | | | class="sshl_f" | | ||
| Line 76: | Line 75: | ||
==Related Videos== | ==Related Videos== | ||
| − | {{#ev:youtube| | + | {{#ev:youtube|v=RhNtIcbpfXA|280|center|YIELDDISC}} |
== See Also == | == See Also == | ||
| Line 88: | Line 87: | ||
*[http://en.wikipedia.org/wiki/Discounting Discount Yield] | *[http://en.wikipedia.org/wiki/Discounting Discount Yield] | ||
*[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention] | *[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention] | ||
| + | |||
| + | |||
| + | |||
| + | |||
| + | *[[Z_API_Functions | List of Main Z Functions]] | ||
| + | |||
| + | *[[ Z3 | Z3 home ]] | ||
Latest revision as of 15:06, 16 November 2018
YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)
- where is security's settlement date (a date when coupon or a bond is purchased),
- is security's maturity date (a date when coupon or a bond expires),
- is the price per $100 face value,
- is security's redemption value per $100 face value,
- is the type of day count basis to use.
- YIELDDISC(), returns the annual yield for a discounted security; for example, a Treasury bill.
is security's settlement date (a date when coupon or a bond is purchased),
is security's maturity date (a date when coupon or a bond expires),
is the price per $100 face value,
is security's redemption value per $100 face value,
is the type of day count basis to use.
Description
YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)
- YIELDDISC referred to as 'Discount Yield' is the measure of security's percentage return.
Formula:-
- and 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 date = date, Calci displays #N/A error message.
- and values must be greater than zero, else Calci displays #N/A error message.
- value is optional. If omitted, Calci assumes it to be 0.
Below table shows the use of values:
| Basis | Description |
|---|---|
| 0 | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/360 |
- If 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
See Also
References