Datasets:
sohomghosh
/
FinRAD_Financial_Readability_Assessment_Dataset

Dataset card Data Studio Files Community
1
terms
stringlengths
1
156
definitions
stringlengths
3
4.2k
source
stringclasses
15 values
assigned_readability
int64
0
1
flesch_reading_ease
float64
-301.79
121
flesch_kincaid_grade
float64
-3.5
55.6
smog_index
float64
0
26.5
coleman_liau_index
float64
-33.81
51.4
automated_readability_index
float64
-6.9
65
dale_chall_readability_score
float64
0.1
35.3
linsear_write_formula
float64
-0.5
73
gunning_fog
float64
0.4
56
Instantaneous Forward Rate
Forward rate for a very short period of time in the future.
opod
0
84.68
4.4
0
4.57
3.4
6.86
6
8.13
Interest Rate Cap
An option that provides a payoff when a specified interest rate is above a certain level. The interest rate is a floating rate that is reset periodically.
opod
0
49.31
9.7
0
9.21
7.6
8.98
7.75
9.84
Interest Rate Collar
A combination of an interest-rate cap and an interest rate floor.
opod
0
51.85
8.8
0
9.49
7.6
7.05
7.5
11.67
Interest Rate Derivative
A derivative whose payoffs are dependent on future interest rates.
opod
0
35.95
10.7
0
13.72
10.4
13.61
7
16
Interest Rate Floor
An option that provides a payoff when an interest rate is below a certain level. The interest rate is a floating rate that is reset periodically.
opod
0
49.82
9.5
0
8.16
6.8
8.53
7
8.28
Interest Rate Option
An option where the payoff is dependent on the level of interest rates.
opod
0
66.74
7.2
0
7.7
6.5
10.35
7.5
11.35
Interest Rate Swap
An exchange of a fixed rate of interest on a certain notional principal for a floating rate of interest on the same notional principal.
opod
0
47.12
12.7
0
9.87
12.6
8.12
18
14.6
International Swaps and Derivatives Association
Trade Association for over-the- counter derivatives and developer of master agreements used in over-the-counter contracts.
opod
0
5.49
16.2
0
21.97
20
9.64
11.5
14
In-the-Money Option
Either (a) a call option where the asset price is greater than the strike price or (b) a put option where the asset price is less than the strike price.
opod
0
74.87
10.3
0
6.11
12.9
7.76
15
12
Intrinsic Value
For a call option, this is the greater of the excess of the asset price over the strike price and zero. For a put option, it is the greater of the excess of the strike price over the asset price and zero.
opod
0
84
6.8
0
4.7
7.3
6.93
10.5
8.4
Inverted Market
A market where futures prices decrease with maturity.
opod
0
46.44
8.8
0
13.01
9.7
11.93
4
8.2
Investment Asset
An asset held by at least some individuals for investment purposes.
opod
0
43.39
9.9
0
11.06
8.5
9.92
7.5
15.31
IO
Interest Only. A mortgage-backed security where the holder receives only interest cash flows on the underlying mortgage pool.
opod
0
27.83
13.9
0
16.24
15.8
10.67
14
13.87
ISDA
See International Swaps and Derivatives Association.
opod
0
-36.14
19.8
0
23.65
18.4
14.46
5
22.4
Itô Process
A stochastic process where the change in a variable during each short period of time of length has a normal distribution. The mean and variance of the distribution are proportional to and are not necessarily constant.
opod
0
53.21
10.3
0
11.42
11.4
8.92
12
12.76
Itô’s Lemma
A result that enables the stochastic process for a function of a variable to be calculated from the stochastic process for the variable itself.
opod
0
55.58
11.5
0
11.78
14.1
9.43
15
12.93
ITraxx Europe
Portfolio of 125 investment-grade European companies.
opod
0
-10.76
16.3
0
23.65
19.3
17.09
6
29.07
Jump-Diffusion Model
Model where asset price has jumps superimposed on to a diffusion process such as geometric Brownian motion.
opod
0
54.22
9.9
0
13.11
12.3
12.84
11.5
13.86
Jump Process
Stochastic process for a variable involving jumps in the value of the variable.
opod
0
66.74
7.2
0
11.3
9.3
10.35
7.5
11.35
Kurtosis
A measure of the fatness of the tails of a distribution.
opod
0
68.77
6.4
0
5.26
3.8
8.49
5.5
8.04
LEAPS
Long-term equity anticipation securities. These are relatively long-term options on individual stocks or stock indices.
opod
0
13.1
13.3
0
19.39
15.3
12.43
5.25
16.33
LIBID
London interbank bid rate. The rate bid by banks on Eurocurrency deposits (i.e., the rate at which a bank is willing to borrow from other banks).
opod
0
75.2
6
0
7.06
6.8
7.93
6.5
8.28
LIBOR
London interbank offered rate. The rate offered by banks on Eurocurrency deposits (i.e., the rate at which a bank is willing to lend to other banks).
opod
0
66.74
7.2
0
7.93
7.5
8.53
6.5
8.28
LIBOR Curve
LIBOR zero-coupon interest rates as a function of maturity.
opod
0
28.5
11.5
0
12.5
9.8
16.36
6.5
12.49
LIBOR-in-Arrears Swap
Swap where the interest paid on a date is determined by the interest rate observed on that date (not by the interest rate observed on the previous payment date).
opod
0
58.96
12.2
0
9.3
14.7
7.8
19.5
15.74
LIBOR-OIS Spread
Difference between LIBOR rate and OIS rate for a certain maturity.
opod
0
-7.38
17
0
10.54
8
8.49
6.5
8.04
Limit Move
The maximum price move permitted by the exchange in a single trading session.
opod
0
58.28
8.4
0
10.37
8.6
9.14
7.5
11.35
Limit Order
An order that can be executed only at a specified price or one more favorable to the investor.
opod
0
53.21
10.3
0
6.9
7.7
8.04
12
13.87
Liquidity Preference Theory
A theory leading to the conclusion that forward interest rates are above expected future spot interest rates.
opod
0
37.3
12.3
0
13.8
12.8
10.98
13.5
16.21
Liquidity Premium
The amount that forward interest rates exceed expected future spot interest rates.
opod
0
42.38
10.3
0
15.65
12.5
10.81
8
11.47
Liquidity Risk
Risk that it will not be possible to sell a holding of a particular instrument at its theoretical price. Also, the risk that a company will not be able to borrow money to fund its assets.
opod
0
61.67
9.1
0
6.44
7.4
7.6
11.5
10.53
Locals
Individuals on the floor of an exchange who trade for their own account rather than for someone else.
opod
0
70.13
8
0
9.16
9.6
5.41
9
9.42
Lognormal Distribution
A variable has a lognormal distribution when the logarithm of the variable has a normal distribution.
opod
0
38.32
11.9
0
13.22
11.9
9.36
12
13.9
Long Hedge
A hedge involving a long futures position.
opod
0
55.91
7.2
0
9.06
6.3
13.01
4.5
14.23
Long Position
A position involving the purchase of an asset.
opod
0
46.44
8.8
0
7.9
5.6
11.93
5
13.2
Lookback Option
An option whose payoff is dependent on the maximum or min- imum of the asset price achieved during a certain period.
opod
0
58.62
10.3
0
8.7
10.6
11.45
13.5
14.11
Low Discrepancy Sequence
See Quasi-random Sequence.
opod
0
34.59
9.2
0
16.95
17.8
19.58
1.5
1.2
Maintenance Margin
When the balance in a trader’s margin account falls below the maintenance margin level, the trader receives a margin call requiring the account to be topped up to the initial margin level.
opod
0
39
15.8
0
11.38
17.7
10.16
18
15.3
Margin
The cash balance (or security deposit) required from a futures or options trader.
opod
0
49.82
9.5
0
11.3
10.1
11.57
6.5
8.28
Margin Call
A request for extra margin when the balance in the margin account falls below the maintenance margin level.
opod
0
53.21
10.3
0
11.08
11.1
8.92
9
9.42
Market-Leveraged Stock Unit (MSU)
A unit entitling the holder to receive shares of a stock at a future time. The number of shares received depends on the stock price.
opod
0
84.17
4.6
0
6.42
5.2
8.05
5.75
6.6
Market Maker
A trader who is willing to quote both bid and offer prices for an asset.
opod
0
81.63
5.6
0
4.17
4.3
8.59
6.5
6
Market Model
A model most commonly used by traders.
opod
0
81.29
3.7
0
5.75
3.6
10.75
3.5
8.51
Market Price of Risk
A measure of the trade-offs investors make between risk and return.
opod
0
68.77
6.4
0
10.54
8.5
8.49
4.5
4.4
Market Segmentation Theory
A theory that short interest rates are determined independently of long interest rates by the market.
opod
0
-3.99
17.8
0
13.22
11.9
9.36
13
16.4
Marking to Market
The practice of revaluing an instrument to reflect the current values of the relevant market variables.
opod
0
46.78
10.7
0
13.98
12.5
12.33
9
11.4
Markov Process
A stochastic process where the behavior of the variable over a short period of time depends solely on the value of the variable at the beginning of the period, not on its past history.
opod
0
45.43
15.4
0
8.72
16.5
8.57
23
17.13
Martingale
A zero drift stochastic process.
opod
0
66.4
5.2
0
9.6
7.4
13.36
2.5
10
Maturity Date
The end of the life of a contract.
opod
0
105.66
0.5
0
-0.81
-1.6
6.01
3
3.2
Maximum Likelihood Method
A method for choosing the values of parameters by maximizing the probability of a set of observations occurring.
opod
0
27.83
13.9
0
12.7
12.4
11.55
14
18.31
Mean Reversion
The tendency of a market variable (such as an interest rate) to revert back to some long-run average level.
opod
0
52.19
10.7
0
8.65
10.1
8.73
12.5
13.92
Measure
Sometimes also called a probability measure, it defines the market price of risk.
opod
0
41.36
10.7
0
11.7
10.1
9.14
6.5
8.28
Mezzanine Tranche
Tranche which experiences losses after equity tranche but before senior tranches.
opod
0
34.93
11.1
0
18.42
14.4
12.79
6.5
11.67
Modified Duration
A modification to the standard duration measure so that it more accurately describes the relationship between proportional changes in a bond price and actual changes in its yield. The modification takes account of the compounding frequency with which the yield is quoted.
opod
0
41.7
12.7
0
14.21
14.9
10.32
15
16.02
Money Market Account
An investment that is initially equal to $1 and, at time , increases at the very short-term risk-free interest rate prevailing at that time.
opod
0
48.13
12.3
0
11.03
14
9.58
17
17.9
Monte Carlo Simulation
A procedure for randomly sampling changes in market variables in order to value a derivative.
opod
0
39.33
11.5
0
12.29
10.9
10.7
10.5
14
Mortgage-Backed Security
A security that entitles the owner to a share in the cash flows realized from a pool of mortgages.
opod
0
60.65
9.5
0
6.85
7.9
8.73
12.5
13.92
Naked Position
A short position in a call option that is not combined with a long position in the underlying asset.
opod
0
60.65
9.5
0
7.43
8.4
8.73
12.5
11.81
Netting
The ability to offset contracts with positive and negative values in the event of a default by a counterparty or for the purpose of determining collateral requirements.
opod
0
27.15
16.2
0
13.29
16.8
12.58
20.5
21.17
Newton-Raphson Method
An iterative procedure for solving nonlinear equations.
opod
0
5.15
14.3
0
19.84
15
15.26
5.5
19.94
NINJA
Term used to describe a person with a poor credit risk: no income, no job, no assets.
opod
0
71.14
7.6
0
4.58
6.2
7.27
7.5
6.8
No-Arbitrage Assumption
The assumption that there are no arbitrage opportunities in market prices.
opod
0
43.39
9.9
0
14.77
11.5
9.92
7.5
15.31
No-Arbitrage Interest Rate Model
A model for the behavior of interest rates that is exactly consistent with the initial term structure of interest rates.
opod
0
42.72
12.3
0
11.72
12.4
10.94
15
16
Nonstationary Model
A model where the volatility parameters are a function of time.
opod
0
60.31
7.6
0
8.97
6.8
9.92
6.5
11.67
Nonsystematic Risk
Risk that can be diversified away.
opod
0
73.85
4.5
0
6.25
4.3
9.2
3
9.07
Normal Backwardation
A situation where the futures price is below the expected future spot price.
opod
0
58.28
8.4
0
9.96
8.2
9.14
7.5
11.35
Normal Distribution
The standard bell-shaped distribution of statistics.
opod
0
14.63
12.7
0
22.67
18.4
14.46
4
15.73
Normal Market
A market where futures prices increase with maturity.
opod
0
46.44
8.8
0
13.01
9.7
11.93
4
8.2
Notional Principal
The principal used to calculate payments in an interest rate swap. The principal is ‘‘notional ’’ because it is neither paid nor received.
opod
0
59.8
7.8
0
10.3
8.1
9.7
7.25
11.56
Numeraire
Defines the units in which security prices are measured. For example, if the price of IBM is the numeraire, all security prices are measured relative to IBM. If IBM is $80 and a particular security price is $50, the security price is 0.625 when IBM is the numeraire.
opod
0
63.7
8.4
11.9
7.83
8
9.04
10.333333
9.73
Numerical Procedure
A method of valuing an option when no formula is available.
opod
0
68.77
6.4
0
6.82
5
11.36
5.5
8.04
OCC
Options Clearing Corporation. See Clearinghouse.
opod
0
-1.29
14.7
0
27
22.5
16.52
3.5
18
Offer Price
See Ask Price.
opod
0
119.19
-2.7
0
-4.29
-1.2
0.15
0.5
1.2
OIS
See Overnight Indexed Swap.
opod
0
92.8
1.3
0
10.15
8.8
11.73
1
1.6
Open Interest
The total number of long positions outstanding in a futures contract (equals the total number of short positions).
opod
0
44.75
11.5
0
12.7
13
9.79
12
11.64
Open Outcry
System of trading where traders meet on the floor of the exchange
opod
0
84.68
4.4
0
7.93
5.8
8.18
5
4.8
Option
The right to buy or sell an asset.
opod
0
105.66
0.5
0
-0.81
-1.6
6.01
3
3.2
Option-Adjusted Spread
The spread over the Treasury curve that makes the theoret- ical price of an interest rate derivative equal to the market price.
opod
0
66.07
9.5
0
10.15
12.3
9.03
14
14.25
Option Class
All options of the same type (call or put) on a particular stock.
opod
0
83.66
4.8
0
4.16
4.3
7.93
6.5
8.28
Option Series
All options of a certain class with the same strike price and expiration date.
opod
0
74.19
6.4
0
8.63
7.4
7.71
7
8.46
Out-of-the-Money Option
Either (a) a call option where the asset price is less than the strike price or (b) a put option where the asset price is greater than the strike price.
opod
0
74.87
10.3
0
6.11
12.9
7.76
15
12
Overnight Indexed Swap
Swap where a fixed rate for a period (e.g., 1 month) is exchanged for the geometric average of the overnight rates during the period.
opod
0
55.58
11.5
0
8.13
12.1
11.41
16
14.6
Over-the-Counter Market
A market where traders deal by phone. The traders are usually financial institutions, corporations, and fund managers.
opod
0
45.93
9
0
14.06
11.1
10.56
5.25
12.81
Package
A derivative that is a portfolio of standard calls and puts, possibly combined with a position in forward contracts and the asset itself.
opod
0
39.67
13.4
0
11.49
13.6
11.64
15.5
16.16
Par Value
The principal amount of a bond.
opod
0
90.77
2.1
0
3.35
2
9.2
3
9.07
Par Yield
The coupon on a bond that makes its price equal the principal.
opod
0
93.14
3.3
0
6.02
4.6
9.5
6
8.13
Parallel Shift
A movement in the yield curve where each point on the curve changes by the same amount.
opod
0
96.52
4
0
6.32
6.8
7.27
7.5
6.8
Parisian Option
Barrier option where the asset has to be above or below the barrier for a period of time for the option to be knocked in or out.
opod
0
60.99
11.5
0
4.71
9.9
7.9
16.5
13.76
Path-Dependent Option
An option whose payoff depends on the whole path followed by the underlying variable—not just its final value.
opod
0
53.21
10.3
0
12.06
11.9
10.67
9
9.42
Payoff
The cash realized by the holder of an option or other derivative at the end of its life.
opod
0
70.13
8
0
4.99
6.1
7.16
11
11.64
PD
Probability of default.
opod
0
-24.64
17.4
0
13.12
13
14.31
1.5
14.53
Perpetual Derivative
A derivative that lasts forever.
opod
0
32.56
10
0
9.6
7.4
13.36
3.5
18
Plain Vanilla
A term used to describe a standard deal.
opod
0
88.74
2.9
0
3.55
2
6.01
3
3.2
P-Measure
Real-world measure.
opod
0
-6.7
14.7
0
15.8
22
0.1
1
0.8
PO
Principal Only. A mortgage-backed security where the holder receives only principal cash flows on the underlying mortgage pool.
opod
0
-14.48
19.8
0
16.88
16.3
10.67
14
13.87
Poisson Process
A process describing a situation where events happen at random. The probability of an event in time is , where is the intensity of the process.
opod
0
50.33
9.3
0
8.51
7.1
9.31
7.5
11.4
Portfolio Immunization
Making a portfolio relatively insensitive to interest rates.
opod
0
-4.33
15.9
0
18.05
13.8
13.9
7
23.2
Portfolio Insurance
Entering into trades to ensure that the value of a portfolio will not fall below a certain level.
opod
0
53.21
10.3
0
7.89
8.5
8.04
11
11.64
Position Limit
The maximum position a trader (or group of traders acting together) is allowed to hold.
opod
0
56.25
9.1
0
9.21
9
10.7
10.5
11.33
Premium
The price of an option.
opod
0
100.24
0.5
0
-0.85
-1.1
7.04
1.5
2