{"id":31503,"date":"2023-12-07T10:41:28","date_gmt":"2023-12-07T10:41:28","guid":{"rendered":"https:\/\/masterskills.org\/blog\/thoi-gian-dao-han-binh-quan-duration-la-gi-cac-nhan-to-anh-huong.html"},"modified":"2023-12-23T08:17:43","modified_gmt":"2023-12-23T01:17:43","slug":"thoi-gian-dao-han-binh-quan-duration-la-gi-cac-nhan-to-anh-huong","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/thoi-gian-dao-han-binh-quan-duration-la-gi-cac-nhan-to-anh-huong.html","title":{"rendered":"Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n (Duration) l\u00e0 g\u00ec? C\u00e1c nh\u00e2n t\u1ed1 \u1ea3nh h\u01b0\u1edfng"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda<\/p>\n<\/div>\n<\/div>\n

Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n (Duration)<\/font><\/h2>\n

\u0110\u1ecbnh ngh\u0129a<\/b><\/p>\n

Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n<\/b> trong ti\u1ebfng Anh l\u00e0 Duration<\/b>.<\/p>\n

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Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n<\/i> l\u00e0 th\u01b0\u1edbc \u0111o \u0111\u1ed9 nh\u1ea1y c\u1ea3m c\u1ee7a gi\u00e1\u00a0tr\u00e1i phi\u1ebfu\u00a0ho\u1eb7c\u00a0c\u00f4ng c\u1ee5 n\u1ee3 kh\u00e1c\u00a0\u0111\u1ed1i\u00a0v\u1edbi s\u1ef1 thay \u0111\u1ed5i c\u1ee7a\u00a0l\u00e3i su\u1ea5t.<\/p>\n

B\u1ea3n ch\u1ea5t c\u1ee7a th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n\u00a0<\/font><\/h3>\n

– Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n\u00a0<\/i>c\u1ee7a tr\u00e1i phi\u1ebfu r\u1ea5t d\u1ec5 b\u1ecb nh\u1ea7m l\u1eabn v\u1edbi th\u1eddi h\u1ea1n ho\u1eb7c\u00a0th\u1eddi gian \u0111\u00e1o h\u1ea1n\u00a0v\u00ec c\u1ea3 hai \u0111\u1ec1u \u0111\u01b0\u1ee3c \u0111o b\u1eb1ng n\u0103m.<\/p>\n

– Tuy nhi\u00ean, th\u1eddi h\u1ea1n c\u1ee7a tr\u00e1i phi\u1ebfu l\u00e0 th\u01b0\u1edbc \u0111o tuy\u1ebfn t\u00ednh c\u1ee7a c\u00e1c n\u0103m cho \u0111\u1ebfn khi tr\u1ea3 n\u1ee3\u00a0g\u1ed1c \u0111\u1ed3ng th\u1eddi kh\u00f4ng thay \u0111\u1ed5i v\u1edbi m\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t.\u00a0M\u1eb7t kh\u00e1c, th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n l\u00e0 phi tuy\u1ebfn t\u00ednh v\u00e0 t\u0103ng nhanh h\u01a1n khi g\u1ea7n \u0111\u1ebfn th\u1eddi \u0111i\u1ec3m \u0111\u00e1o h\u1ea1n.<\/p>\n

Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n ho\u1ea1t \u0111\u1ed9ng nh\u01b0 th\u1ebf n\u00e0o?<\/font><\/h3>\n

– Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n<\/b> \u0111o l\u01b0\u1eddng m\u1ea5t bao l\u00e2u, trong nhi\u1ec1u n\u0103m, \u0111\u1ec3 m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c ho\u00e0n tr\u1ea3 gi\u00e1 tr\u00e1i phi\u1ebfu b\u1eb1ng t\u1ed5ng d\u00f2ng ti\u1ec1n c\u1ee7a tr\u00e1i phi\u1ebfu.<\/p>\n

– \u0110\u1ed3ng th\u1eddi, th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n<\/i> l\u00e0\u00a0th\u01b0\u1edbc \u0111o \u0111\u1ed9 nh\u1ea1y c\u1ea3m c\u1ee7a\u00a0gi\u00e1 c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u00f3 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh ho\u1eb7c tr\u00e1i phi\u1ebfu\u00a0v\u1edbi c\u00e1c thay \u0111\u1ed5i v\u1ec1 l\u00e3i su\u1ea5t.\u00a0N\u00f3i chung, th\u1eddi h\u1ea1n c\u00e0ng cao, gi\u00e1 tr\u00e1i phi\u1ebfu s\u1ebd c\u00e0ng gi\u1ea3m khi l\u00e3i su\u1ea5t t\u0103ng (v\u00e0 r\u1ee7i ro l\u00e3i su\u1ea5t c\u00e0ng l\u1edbn).<\/p>\n

– Theo nguy\u00ean t\u1eafc chung, c\u1ee9 sau 1% thay \u0111\u1ed5i l\u00e3i su\u1ea5t (t\u0103ng ho\u1eb7c gi\u1ea3m), gi\u00e1 c\u1ee7a tr\u00e1i phi\u1ebfu s\u1ebd thay \u0111\u1ed5i kho\u1ea3ng 1% theo h\u01b0\u1edbng ng\u01b0\u1ee3c l\u1ea1i cho m\u1ed7i n\u0103m trong th\u1eddi gian d\u00e0i.<\/p>\n

– N\u1ebfu m\u1ed9t tr\u00e1i phi\u1ebfu c\u00f3 th\u1eddi h\u1ea1n n\u0103m n\u0103m v\u00e0 l\u00e3i su\u1ea5t t\u0103ng 1%, gi\u00e1 c\u1ee7a tr\u00e1i phi\u1ebfu s\u1ebd gi\u1ea3m kho\u1ea3ng 5% (1% X 5 n\u0103m).\u00a0T\u01b0\u01a1ng t\u1ef1, n\u1ebfu l\u00e3i su\u1ea5t gi\u1ea3m 1%, gi\u00e1 c\u1ee7a tr\u00e1i phi\u1ebfu t\u01b0\u01a1ng t\u1ef1 s\u1ebd t\u0103ng kho\u1ea3ng 5% (1% X 5 n\u0103m).<\/p>\n

C\u00e1c nh\u00e2n t\u1ed1 \u1ea3nh h\u01b0\u1edfng<\/font><\/h3>\n

C\u00e1c nh\u00e2n t\u1ed1 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n c\u1ee7a tr\u00e1i phi\u1ebfu, bao g\u1ed3m:<\/p>\n

(1) Th\u1eddi gian \u0111\u00e1o h\u1ea1n<\/b><\/p>\n

– Th\u1eddi gian\u00a0\u0111\u00e1o h\u1ea1n<\/i>\u00a0c\u00e0ng d\u00e0i r\u1ee7i ro l\u00e3i su\u1ea5t c\u00e0ng l\u1edbn.\u00a0<\/p>\n

H\u00e3y xem x\u00e9t hai tr\u00e1i phi\u1ebfu m\u00e0 m\u1ed7i tr\u00e1i phi\u1ebfu mang l\u1ea1i 5% v\u00e0 c\u00f3 gi\u00e1 1.000 \u0111\u00f4 la, nh\u01b0ng c\u00f3 k\u00ec h\u1ea1n kh\u00e1c nhau.\u00a0M\u1ed9t tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n nhanh h\u01a1n – gi\u1ea3 s\u1eed, trong m\u1ed9t n\u0103m – s\u1ebd ho\u00e0n tr\u1ea3 chi ph\u00ed th\u1ef1c s\u1ef1 c\u1ee7a n\u00f3 nhanh h\u01a1n tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n trong 10 n\u0103m. Do \u0111\u00f3, tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n tr\u01b0\u1edbc s\u1ebd c\u00f3 th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n th\u1ea5p h\u01a1n v\u00e0 \u00edt r\u1ee7i ro h\u01a1n.<\/p>\n

(2) L\u00e3i su\u1ea5t coupon<\/b><\/p>\n

L\u00e3i su\u1ea5t coupon\u00a0c\u1ee7a tr\u00e1i\u00a0phi\u1ebfu<\/i>\u00a0l\u00e0 y\u1ebfu t\u1ed1 ch\u00ednh khi t\u00ednh to\u00e1n th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n.<\/p>\n

N\u1ebfu ch\u00fang ta c\u00f3 hai tr\u00e1i phi\u1ebfu gi\u1ed1ng h\u1ec7t v\u1edbi s\u1ef1 kh\u00e1c bi\u1ec7t v\u1ec1 l\u00e3i su\u1ea5t coupon c\u1ee7a ch\u00fang, th\u00ec tr\u00e1i phi\u1ebfu c\u00f3 l\u00e3i su\u1ea5t coupon cao h\u01a1n s\u1ebd ho\u00e0n tr\u1ea3 chi ph\u00ed ban \u0111\u1ea7u nhanh h\u01a1n tr\u00e1i phi\u1ebfu c\u00f3 l\u1ee3i su\u1ea5t th\u1ea5p h\u01a1n.\u00a0L\u00e3i su\u1ea5t coupon c\u00e0ng cao, th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n c\u00e0ng th\u1ea5p v\u00e0 r\u1ee7i ro l\u00e3i su\u1ea5t c\u00e0ng th\u1ea5p.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Duration, Investopedia)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n (ti\u1ebfng Anh: Duration) l\u00e0 th\u01b0\u1edbc \u0111o \u0111\u1ed9 nh\u1ea1y c\u1ea3m c\u1ee7a gi\u00e1 tr\u00e1i phi\u1ebfu ho\u1eb7c c\u00f4ng c\u1ee5 n\u1ee3 kh\u00e1c \u0111\u1ed1i v\u1edbi s\u1ef1 thay \u0111\u1ed5i c\u1ee7a l\u00e3i su\u1ea5t.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31503"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=31503"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31503\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}