Dollar Duration
Dollar duration is a measure of a fixed-income security's price sensitivity to yield changes. It is expressed as the dollar change in price from a 1 basis point (0.01%) move in yield.
Example: A $1,000 bond with a modified duration of 4.5 has a DV01 of approximately 0.45, meaning a 1 basis point move in yield would change the price by about $0.45.
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