How to use this calculator
- Enter current price, modified duration in years, convexity in years squared, yield change (percentage points).
- Choose a display currency, then select Calculate. Results also update after a brief pause while you edit.
- Read the result with the assumptions below. Export details or save a second scenario to compare your choices.
Formula and method
Assumptions and limitations
Second-order approximation for small parallel shifts; not exact repricing or suitable for optionality without appropriate measures.
Worked example
With current price = 1000, modified duration in years = 5, convexity in years squared = 30, yield change (percentage points) = 1, approximate price change is approximately -48.5.
What the result means
Positive yield changes usually reduce an ordinary fixed-rate bond’s price.
Common questions
How should I interpret approximate price change?
Positive yield changes usually reduce an ordinary fixed-rate bond’s price.
What should I check before using this result?
Second-order approximation for small parallel shifts; not exact repricing or suitable for optionality without appropriate measures.
Methodology and transparency
Calculation specification reviewed on 2026-10-14. Mathematical implementation is tested against independent reference fixtures. This does not imply review by a licensed financial professional. Read the testing and precision policy.