Returns the convexity for a periodic cash flow stream, such as a bond.

Category: | Financial |

specifies the par value.

Range | $A>0$ |

specifies the nominal per-period coupon rate, expressed as a fraction.

Range | 0 ≤ c < 1 |

specifies the number of coupons per period.

Range | n > 0 and is an integer |

specifies the number of remaining coupons.

Range | K > 0 and is an integer |

specifies the time from the present date to the first coupon date, expressed in terms of the number of periods.

Range | $0<{k}_{0}\le \frac{1}{n}$ |

specifies the nominal per-period yield-to-maturity, expressed as a fraction.

Range | y > 0 |

$\begin{array}{c}C=\frac{1}{{n}^{2}}\phantom{\rule{0.212em}{0ex}}\phantom{\rule{-0.167em}{0ex}}\phantom{\rule{0.212em}{0ex}}\phantom{\rule{0.212em}{0ex}}\left(\frac{\underset{k=1}{\overset{K}{\Sigma}}{t}_{k}({t}_{k}+1)\frac{c\left(k\right)}{{(1+\frac{y}{n})}^{{t}_{k}}}}{P{(1+\frac{y}{n})}^{2}}\right)\hfill \end{array}$

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