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FinRAD_Financial_Readability_Assessment_Dataset

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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
income beneficiary
One who receives income from a trust.
zvi
0
89.75
2.5
0
4.94
2.9
6.24
2.5
2.8
income statement
A financial statement showing a firm™s revenues and expenses during a specified period.
zvi
0
24.44
13.1
0
14.83
12.2
15.21
10.5
17.51
index arbitrage
An investment strategy that exploits diver-gences between actual futures prices and their theoretically correct parity values to make a profit.
zvi
0
8.88
17
0
18.1
17.8
13.31
16
18
index fund
A mutual fund holding shares in proportion to their representation in a market index such as the S&P 500.
zvi
0
52.19
10.7
0
8.65
9.6
12.89
12.5
13.92
index model
A model of stock returns using a market index such as the S&P 500 to represent common or system-atic risk factors.Final PDF to printerˇ 7
zvi
0
46.1
13
0
8.54
12.4
15.61
15.5
11.6
index option
A call or put option based on a stock market index.
zvi
0
85.69
4
0
2.65
1.6
8.49
4.5
4.4
indifference curve
A curve connecting all portfolios with the same utility according to their means and standard deviations.
zvi
0
38.32
11.9
0
14.67
13.1
10.35
13
18.9
industry life cycle
Stages through which firms typically pass as they mature.
zvi
0
79.26
4.4
0
11.86
8.7
11.1
4.5
8.04
inflation
The rate at which the general level of prices for goods and services is rising.
zvi
0
81.63
5.6
0
6.89
6.5
6.49
7.5
6
information ratio
Ratio of alpha to the standard deviation of diversifiable risk.
zvi
0
27.49
11.9
0
11.98
9
13.61
6
12
initial public offering IPO
Stock issued to the public for the first time by a formerly privately owned company.
zvi
0
64.71
8
0
8.81
8.1
8.59
10.5
11.33
input list
List of parameters such as expected returns, variances, and covariances necessary to determine the optimal risky portfolio.
zvi
0
11.92
15.8
0
17.92
16.7
13.77
15.5
23.27
inside information
Nonpublic knowledge about a cor-poration possessed by corporate officers, major owners, or other individuals with privileged access to information about a firm.
zvi
0
6.84
17.8
0
18.33
19.3
14.06
18
21.53
insider trading
Trading by officers, directors, major stockholders, or others who hold private inside information allowing them to benefit from buying or selling stock.
zvi
0
23.77
15.4
0
16.19
17.6
12.62
17
19.71
insurance principle
The law of averages. The average outcome for many independent trials of an experiment will approach the expected value of the experiment.
zvi
0
34.93
11.1
0
11.58
8.9
9.92
7.5
13.49
interest coverage ratio
Measure of financial leverage. Earnings before interest and taxes as a multiple of interest expense.
zvi
0
38.48
9.8
0
12.83
9.3
11.38
4.75
11
interest rate
The number of dollars earned per dollar invested per period.
zvi
0
52.87
8.4
0
10.24
7.6
12.03
6
12
interest rate parity relationship theorem
The rela-tion between spot and forward exchange rates and for-eign and domestic interest rates that rules out arbitrage opportunities.
zvi
0
35.27
13.1
0
17.23
16.8
12.06
14.5
16.02
interest rate swaps
Contracts between two parties to trade cash flows corresponding to different interest rates.
zvi
0
41.36
10.7
0
17.1
14
11.57
8.5
11.35
intermarket spread swap
Switching from one segment of the bond market to another @from Treasuries to corporates, for example@.
zvi
0
55.24
9.5
0
12.53
12.2
10.35
11
11.4
international financial reporting standards IFRS
Accounting standards used in many non-U.S. markets; compared to U.S. accounting standards, IFRS rely more on principles and less on rules.
zvi
0
58.62
10.3
0
13.11
15.5
12.95
13.5
12.21
intrinsic value of a firm
The present value of a firm™s expected future net cash flows discounted by the required rate of return.
zvi
0
61.67
9.1
0
9.8
10.1
10.67
11
11.64
intrinsic value of a share
The present value of expected future cash flows the firm will provide shareholders on a per share basis.
zvi
0
70.13
8
0
10.15
10.3
11.55
11
11.64
intrinsic value of an option
The value the option would have if it were about to expire.
zvi
0
84.68
4.4
0
4.57
3.4
6.86
5
4.8
inventory turnover ratio
Cost of goods sold as a multiple of average inventory.
zvi
0
52.87
8.4
0
6.76
4.8
8.87
7
16
investment
Commitment of current resources in the expectation of deriving greater resources in the future.
zvi
0
40.35
11.1
0
15.71
13.2
12.23
9
14.17
investment bankers
Firms specializing in the sale of new securities to the public, typically by underwriting the issue.
zvi
0
29.86
13.1
0
12.53
11.6
10.35
12
16.4
investment company
Financial intermediaries that pool and invest the funds of individual investors in securities or other assets.
zvi
0
12.94
15.4
0
16.53
14.5
12.33
12
16.4
investment horizon
Time horizon for purposes of invest-ment decisions.
zvi
0
30.53
10.7
0
15.67
12.4
15.26
5.5
14.23
investment portfolio
Set of securities chosen by an investor.
zvi
0
55.91
7.2
0
7.37
5
8.5
3.5
8.51
investment-grade bond
Bond rated BBB and above or Baa and above. Lower-rated bonds are classified as speculative-grade or junk bonds.
zvi
0
53.88
8
0
9.94
7.7
10.22
5
8.04
issued shares
Shares that have been issued by the company.JJensen™s alpha The alpha of an investment.
zvi
0
57.27
8.8
0
11.94
10.5
11.1
8
8.46
junk bond
A bond rated Ba or lower by Moody™s or BB or lower by Standard & Poor™s, or an unrated bond. Also called a speculative-grade bond.
zvi
0
47.12
12.7
0
7.43
11.4
12.06
6.25
12.93
kurtosis
Measure of the fatness of the tails of a probability distribution. Indicates probability of observing extreme high or low values.
zvi
0
27.49
11.9
0
12.56
9.5
10.45
6.5
12
latency
The time it takes to accept, process, and deliver a trading order.
zvi
0
76.22
5.6
0
6.95
6.1
9.5
6
8.13
Law of One Price
The rule stipulating that equivalent securities or bundles of securities must sell at equal prices to preclude arbitrage opportunities.
zvi
0
18.35
15.4
0
18.16
17.1
11.23
15.5
18.13
leading economic indicators
Economic series that tend to rise or fall in advance of the rest of the economy.
zvi
0
72.16
7.2
0
5.62
5.7
9.36
9
11.4
leverage ratio
Ratio of debt to total capitalization of a firm.
zvi
0
53.88
8
0
6.06
4
12.86
4.5
8.04
LIFO
The last-in first-out accounting method of valuing inventories.
zvi
0
46.44
8.8
0
18.81
15.5
11.93
5
13.2
limit order
An order specifying a price at which an investor is willing to buy or sell a security.
zvi
0
62.68
8.7
0
5.97
6.5
7.27
10.5
11.51
liquidation value
Net amount that could be realized by selling the assets of a firm after paying the debt.
zvi
0
71.14
7.6
0
6.67
7
10.05
8.5
9.15
liquidity preference theory
Theory that investors demand a risk premium on long-term bonds. Implies that the forward rate generally will exceed the expected future interest rate.Final PDF to printer˘ 8
zvi
0
49.31
9.7
0
13.04
10.9
13.66
8.75
12.81
liquidity premium
Forward rate minus expected future short interest rate.
zvi
0
37.98
10
0
14.46
10.8
11.93
5
13.2
load
Sales charge on the purchase of some mutual funds.
zvi
0
87.72
3.3
0
7.39
5.1
11.1
4.5
8.04
load fund
A mutual fund with a sales commission, or load.
zvi
0
79.26
4.4
0
4.78
3.5
11.1
5.5
12.49
lock-up period
Period in which investors cannot redeem investments in the hedge fund.
zvi
0
60.31
7.6
0
12.62
9.7
12.79
6.5
11.67
log-normal distribution
The probability distribution that characterizes a variable whose log has a normal @bell-shaped@ distribution.
zvi
0
14.97
14.7
0
20.23
17.9
11.1
11
14.17
London Interbank Offered Rate LIBOR
Lending rate among banks in the London market.
zvi
0
80.28
4.1
0
7.9
5.6
9.95
3
3.2
long position
The futures trader who commits to purchas-ing the underlying asset.
zvi
0
35.95
10.7
0
13.72
10.9
15.19
6
8
long position hedge
Hedging the future cost of a purchase by taking a long futures position to protect against changes in the price of the asset.
zvi
0
65.05
9.9
0
8.71
11.2
9.58
12.5
10.94
lower partial standard deviation LPSD
Standard deviation computed using only the portion of the return distribution below a threshold such as the risk-free rate or the sample average.MMacaulay™s duration Effective maturity of bond, equal to weighted average of the times until each payment, with weights proportional to the present value of the payment.
zvi
0
5.84
24.4
0
15.39
28.9
12.6
33
25.87
maintenance, or variation, margin
An established value below which a trader™s margin may not fall. Reaching the maintenance margin triggers a margin call.
zvi
0
61.83
7
0
11.45
8.6
9.93
4.75
8.01
mark-to-market accounting
See fair value accounting.
zvi
0
50.5
7.2
0
8.7
7.7
7.78
2
11.6
market model
Another version of the index model that breaks down return uncertainty into systematic and nonsystematic components.
zvi
0
-3.99
17.8
0
18.67
16.3
12.33
13
16.4
market order
A buy or sell order to be executed immedi-ately at current market prices.
zvi
0
41.36
10.7
0
8.16
7.2
10.35
7.5
11.35
market portfolio
The portfolio encompassing all assets in which each asset is held in proportion to its market value.
zvi
0
54.22
9.9
0
10.73
10.3
9.12
11.5
13.86
market price of risk
A measure of the extra return, or risk premium, that investors demand to bear risk. The ratio of the risk premium of the market portfolio to the variance of its return.
zvi
0
64.2
8.2
0
7.48
7.3
7.97
8.25
8.78
market risk
Risk factors common to the whole economy; also called systematic or
zvi
0
51.85
8.8
0
11.06
8.5
12.79
6.5
11.67
market segmentation
The theory that long- and short-maturity bonds are traded in essentially distinct or seg-mented markets and that prices in one market do not affect those in the other.
zvi
0
43.06
14.2
0
11.2
16.1
11.23
18
15.49
market timer
An investor who speculates on broad market moves rather than on specific securities.
zvi
0
49.82
9.5
0
13.5
11.2
10.35
8.5
14.43
market timing
Asset allocation in which the investment in the market is increased if one forecasts that the market will outperform T-bills.
zvi
0
51.18
11.1
0
12.88
13.5
10.94
13
14
market-neutral bet
A strategy designed to exploit relative mispricing within a market but which is hedged to avoid taking a stance on the direction of the broad market.
zvi
0
45.09
13.4
0
10.45
14
10.39
17
15.02
market-value-weighted index
An index of the value of a portfolio of securities computed by calculating a weighted average of the returns of each security in the portfolio, with weights proportional to outstanding market value.marketŒbook-value @P/B@ ratio Ratio of price per share to book value per share.
zvi
0
9.9
22.8
0
13.54
25.6
11.92
32
25.78
marking to market
Describes the daily settlement of obligations on futures positions.
zvi
0
20.04
12.7
0
18.3
14
11.1
6.5
12.49
mean-variance M-V criterion
The selection of portfolios based on the means and variances of their returns. The choice of the highest expected return portfolio for a given level of variance or the lowest variance portfolio for a given expected return.
zvi
0
52.7
10.5
0
11.55
11.5
8.82
12.25
11.72
mean-variance analysis
Evaluation of risky prospects based on the expected value and variance of possible outcomes.
zvi
0
48.81
9.9
0
14.43
12.1
12.23
9
11.31
mental accounting
Individuals mentally segregate assets into independent accounts rather than viewing them as part of a unified portfolio.
zvi
0
11.92
15.8
0
17.57
15.9
12.84
13.5
18.56
minimum-variance frontier
Graph of the lowest possible portfolio standard deviation corresponding to each value of portfolio expected return.
zvi
0
12.94
15.4
0
18.33
16
11.34
14
16.4
minimum-variance portfolio
The portfolio of risky assets with lowest possible variance.
zvi
0
45.42
9.2
0
13.83
10.3
12.86
5.5
8.04
modern portfolio theory MPT
Principles underlying analysis and evaluation of rational portfolio choices based on riskŒreturn trade-offs and efficient diversification.
zvi
0
-20.91
20.2
0
26.27
22.8
16.27
16
26.4
modified duration
Macaulay™s duration divided by 1 + yield to maturity. Measures interest rate sensitivity of bonds.
zvi
0
22.07
11.9
0
13.64
10.3
16.39
5.25
17.09
momentum effect
The tendency of poorly performing stocks and well-performing stocks in one period to continue that abnormal performance in following periods.
zvi
0
17.34
15.8
0
17.52
17.3
11.73
19
22
monetary policy
Actions taken by the Board of Governors of the Federal Reserve System to influence the money sup-ply or interest rates.
zvi
0
42.72
12.3
0
11.14
12.1
12.52
14
16
mortality tables
Tables of probability that individuals of various ages will die within a year.
zvi
0
32.9
11.9
0
10.83
9
11.57
8.5
14.43
mortgage-backed security
Ownership claim in a pool of mortgages or an obligation that is secured by such a pool. Also called a pass-through,because payments are passed along from the mortgage originator to the purchaser of the .
zvi
0
62.68
8.7
0
10.55
10.5
9.59
11.25
11.51
multifactor CAPM
Generalization of the basic CAPM that accounts for extra-market hedging demands.Final PDF to printer 9
zvi
0
30.87
12.7
0
15.36
13.7
14.91
10.5
8.67
multifactor model
Model of security returns positing that returns respond to several systematic risk factors as well as firm-specific influences.
zvi
0
10.91
16.2
0
17.22
16.3
14.18
14
16.09
municipal bonds
Tax-exempt bonds issued by state and local governments. General obligation bonds are backed by the general taxing power of the issuer. Revenue bonds are backed by the proceeds from the project or agency they are issued to finance.
zvi
0
67.04
7.1
10.5
10.66
8.8
10.08
7
7.19
mutual fund theorem
A result associated with the CAPM, asserting that investors will choose to invest their entire risky portfolio in a market-index mutual fund.
zvi
0
40.69
13.1
0
13.58
15.2
13.34
15
16.07
NAICS codes
North American Industrial Classifica-tion System codes that use numerical values to identify industries.
zvi
0
-9.41
17.8
0
21.97
18.4
15.21
12.5
20.58
naked option writing
Writing an option without an offset-ting stock position.
zvi
0
37.98
10
0
14.46
11.4
11.93
5
8.2
NASDAQ Stock Market
The computer-linked price quo-tation and trade execution system on which thousands of securities trade.
zvi
0
31.89
12.3
0
18.15
15.9
13.35
11
14.17
neglected-firm effect
That investments in stock of less well-known firms have generated abnormal returns.
zvi
0
42.38
10.3
0
15.65
12.8
10.81
8
14.8
net asset value NAV
Assets minus liabilities expressed on a per-share basis.
zvi
0
21.06
12.3
0
14.46
11.4
15.88
4
8.2
nominal interest rate
The interest rate in terms of nominal @not adjusted for purchasing power@ dollars.
zvi
0
41.36
10.7
0
11.7
10.4
11.57
10.5
17.51
nondirectional strategy
A position designed to exploit temporary misalignments in relative pricing. Typically involves a long position in one security hedged with a short position in a related security.
zvi
0
23.93
13.3
0
14.38
11.8
11.32
11.75
15.77
nondiversifiable risk
Risk factors common to the whole economy; also called
zvi
0
62.34
6.8
0
9.31
6.6
12.86
4.5
8.04
nonsystematic risk
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also called unique risk,
zvi
0
30.02
10.9
0
15.15
11.5
13.48
4.75
13.67
normal distribution
Bell-shaped probability distribution that characterizes many natural phenomena.
zvi
0
-55.09
22.9
0
31.1
25
15.88
8
28.2
notional principal
Principal amount used to calculate swap payments.
zvi
0
55.91
7.2
0
14.86
11
13.01
4.5
14.23
on the run
Recently issued bond, selling at or near par value.
zvi
0
62.34
6.8
0
7.39
5.6
12.86
4.5
8.04
on-the-run yield curve
Relationship between yield to maturity and time to maturity for newly issued bonds selling at or near par value.
zvi
0
35.27
13.1
0
11.08
11.4
11.23
12.5
11.81
open interest
The number of futures contracts outstanding.
zvi
0
48.47
8
0
15.88
12.2
11.83
3
9.07
open-end mutual fund
A fund that issues or redeems its own shares at net asset value @NAV@.
zvi
0
82.65
5.2
0
4.52
4.7
11.1
6
5.6
optimal risky portfolio
An investor™s best combination of risky assets; the combination that maximizes the Sharpe ratio.
zvi
0
40.35
11.1
0
15.71
13.5
13.35
9
11.31
option elasticity
The percentage increase in an option™s value given a 1% change in the value of the underlying security.
zvi
0
44.75
11.5
0
9.51
10.1
10.67
12
13.87
original issue discount bond
A bond issued with a low coupon rate that sells at a discount from par value.
zvi
0
89.08
4.8
0
4.52
4.8
10.35
7
6.4
out of the money
Out of the money describes an option where exercise would result in a negative cash flow. Out-of-the-money options are therefore never exercised.
zvi
0
51.85
8.8
0
12.91
10.6
9.92
6.5
9.85
outstanding shares
Shares that have been issued by the company and are held by investors.
zvi
0
83.66
4.8
0
7.24
6.1
7.93
6.5
5.2
over-the-counter OTC market
An informal network of brokers and dealers where securities can be traded @not a formal exchange@.
zvi
0
46.78
10.7
0
11.42
11
11.34
9
11.4