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sohomghosh
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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
skew
Measure of the asymmetry of a probability distribution.
zvi
0
4.14
14.7
0
14.46
10.8
9.95
6
18.2
small-firm effect
That investments in stocks of small firms appear to have earned abnormal returns.
zvi
0
66.74
7.2
0
12.17
10.1
11.57
7.5
11.35
soft dollars
The value of research services that brokerage houses supply to investment managers fifree of chargefl in exchange for the investment managers™ business.
zvi
0
40.69
13.1
0
16.48
17.2
11.19
15
12.44
Sortino ratio
Excess return divided by lower partial standard deviation.
zvi
0
-4.33
15.9
0
16.6
12.6
15.88
5
13.2
specialist
A trader who makes a market in the shares of one or more firms and who maintains a fifair and orderly marketfl by dealing personally in the stock.
zvi
0
59.98
11.8
0
7.03
12.3
10.66
16
14.06
speculation
Undertaking a risky investment with the objective of earning a greater profit than an investment in a risk-free alternative @a risk premium@.
zvi
0
32.22
14.2
0
13.29
15.2
11.9
17
17.89
speculative-grade 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 junk bond.
zvi
0
76.22
5.6
0
3.35
2.8
10.81
6
6.47
spot-futures parity theorem
Describes the theoretically correct relationship between spot and futures prices. Violation of the parity relationship gives rise to arbitrage opportunities. Also called the cost-of-carry relationship.
zvi
0
-0.44
16.4
0
21.74
18.2
11.2
6.166667
14.6
spread futures
Taking a long position in a futures contract of one maturity and a short position in a contract of different maturity, both on the same underlying asset.
zvi
0
27.15
16.2
0
9.87
14.2
8.48
19.5
15.24
spread options
A combination of two or more call options or put options on the same stock with differing exercise prices or times to expiration. A money spread refers to a spread with different exercise prices; a time spread refers to differing expiration dates.
zvi
0
58.62
10.3
0
10.73
12.1
8.06
14.5
12.21
statement of cash flows
A financial statement showing a firm™s cash receipts and cash payments during a specified period.
zvi
0
39.33
11.5
0
13.85
12.1
13.85
10.5
14
statistical arbitrage
Use of quantitative systems to uncover many perceived misalignments in relative pricing and ensure profit by diversifying across all of these small bets.
zvi
0
31.21
14.6
0
15.79
16.9
12.33
16.5
17.9
stock exchanges
Secondary markets where already-issued securities are bought and sold by members.
zvi
0
51.85
8.8
0
17.9
14.4
11.36
6.5
8.04
stock selection
An active portfolio management technique that focuses on advantageous selection of particular stocks rather than on broad asset allocation choices.
zvi
0
8.88
17
0
19.55
18.7
14.1
17
22
stock split
Issue by a corporation of a given number of shares in exchange for the current number of shares held by stockholders. Splits may go in either direction, either increasing or decreasing the number of shares outstanding. A reverse split decreases the number outstanding.
zvi
0
48.5
10
12.5
12.06
10.5
8.75
8.833333
11.3
stop-loss order
A sell order to be executed if the price of the stock falls below a stipulated level.
zvi
0
62.68
8.7
0
5.62
6.2
7.27
10.5
11.51
straddle
A combination of buying both a call and a put on the same asset, each with the same exercise price and expi-ration date. The purpose is to profit from expected volatility.
zvi
0
64.2
8.2
0
8.06
7.8
9.5
10.25
11.36
straight bond
A bond with no option features such as callability or convertibility.Final PDF to printerfi˛ 13
zvi
0
30.87
12.7
0
13.04
11.5
13.85
10.5
14
street name
Describes securities held by a broker on behalf of a client but registered in the name of the firm.
zvi
0
69.11
8.3
0
7.14
8.1
10.4
11.5
11.81
strike price
See exercise price.
zvi
0
59.97
5.6
0
5.35
6.8
9.05
1.5
14.53
strip, strap
Variants of a straddle. A strip is two puts and one call on a stock; a strap is two calls and one put, both with the same exercise price and expiration date.
zvi
0
89.08
4.8
0
4.52
5.1
7.39
8
8.9
stripped of coupons
Describes the practice of some invest-ment banks that create fisyntheticfl zero-coupon bonds by selling the individual payments made by a coupon-paying Treasury bond.
zvi
0
31.21
14.6
0
17.82
19.1
15.76
16.5
12.68
strong-form EMH
See efficient market hypothesis.
zvi
0
-8.73
15.5
0
17.4
14.7
11.73
3
21.6
subordination clause
A stipulation that senior bondholders will be paid first in the event of bankruptcy. Claims of subordinated or junior debtholders are not paid until the senior debt is paid.
zvi
0
56.76
8.9
0
10.72
9.4
9.26
8.25
11.32
substitution swap
Exchange of one bond for another more attractively priced bond with similar attributes.
zvi
0
49.82
9.5
0
14.83
12.2
10.35
8.5
11.35
supply shock
An event that influences production capacity and costs in the economy.
zvi
0
43.39
9.9
0
12.62
9.7
12.79
8.5
18.95
support level
A price level below which it is supposedly difficult for a stock or stock index to fall.
zvi
0
62.68
8.7
0
6.67
7
7.27
10.5
11.51
survivorship bias
Bias in the average returns of a sample of funds induced by excluding past returns on funds that left the sample because they happened to be unsuccessful.
zvi
0
52.53
12.6
0
10.28
14.4
10.24
16.5
15.24
swaption
An option on a swap.
zvi
0
100.24
0.5
0
-4.33
-4
10.2
1.5
2
systematic risk
Risk factors common to the whole economy; also called
zvi
0
53.88
8
0
9.31
6.6
12.86
4.5
8.04
systemic risk
Risk of breakdown in the financial system, particularly due to spillover effects from one market into others.
zvi
0
45.76
11.1
0
13.45
12.8
11.91
10.5
11.51
tax anticipation notes
Short-term municipal debt to raise funds to pay for expenses before actual collection of taxes.
zvi
0
39.33
11.5
0
12.69
11.5
11.75
11.5
16.67
tax swap
Swapping two similar bonds to capture a tax benefit.
zvi
0
53.88
8
0
8.67
6.1
12.86
5.5
12.49
tax-deferral option
The feature of the U.S. Internal Rev-enue Code that the capital gains tax on an asset is payable only when the gain is realized by selling the asset.
zvi
0
74.19
6.4
0
6.55
6.1
11.1
7.5
8.46
tax-protected retirement plans
Employer-sponsored and other plans that protect either contributions or investment earnings from taxes, at least until after retirement.
zvi
0
19.37
15
0
19.78
18.7
11.55
13
16.09
technical analysis
Research to identify mispriced securi-ties that focuses on recurrent and predictable stock price patterns and on proxies for buy or sell pressure in the market.
zvi
0
46.1
13
0
14.1
16.7
11.82
16.5
14.8
tender offer
An offer from an outside investor to share-holders of a company to purchase their shares at a stipulated price, usually substantially above the market price, so that the investor may amass enough shares to obtain control of the company.
zvi
0
31.89
18.5
0
12.14
22
9.62
25.5
18.68
term insurance
Provides a death benefit only, with no buildup of cash value.
zvi
0
68.77
6.4
0
7.35
5.9
8.49
5.5
8.04
term premiums
Excess of the yields to maturity on long-term bonds over those of short-term bonds.
zvi
0
74.19
6.4
0
9.91
9.1
8.84
7
8.46
time value of an option
Difference between an option™s price and its intrinsic value. Not to be confused with present value or the time value of money.
zvi
0
68.77
6.4
0
8.97
6.8
7.05
5.5
6.22
time-weighted average
An average @often a geometric average@ of the period-by-period holding-period returns of an investment.
zvi
0
-10.42
18.2
0
16.93
15.9
11.1
13
17.03
times interest earned
Synonym for interest coverage ratio. Ratio of EBIT to interest expense.Tobin™s q Ratio of market value of the firm to replacement cost.
zvi
0
43.39
9.9
0
10.83
8.5
12.08
7
9.85
total asset turnover ATO
The annual sales generated by each dollar of assets @sales/assets@.
zvi
0
35.95
10.7
0
12.56
10.9
10.45
7
12
tracking error
The difference between the return on a managed portfolio and that of a benchmark portfolio against which the manager is evaluated.
zvi
0
33.24
13.8
0
12.82
13.8
7.69
15.5
12.21
tracking portfolio
A portfolio constructed to have returns with the highest possible correlation with a systematic risk factor.
zvi
0
29.86
13.1
0
15.77
13.9
12.33
13
16.4
tranche
See collateralized mortgage obligation.
zvi
0
-34.11
19
0
27.55
23
15.68
3
21.6
Treasury bill
Short-term, highly liquid government debt obligation issued at a discount from the face value and returning the face amount at maturity.
zvi
0
41.7
12.7
0
13.92
15.1
10.69
14.5
14.11
Treasury bond
Debt obligation of the federal government with original maturity between 10 and 30 years.
zvi
0
31.89
12.3
0
13.22
11.1
13.35
12
17.03
Treasury note
Debt obligation of the federal government with original maturity between 1 and 10 years.
zvi
0
31.89
12.3
0
12.81
10.8
13.35
12
17.03
treasury stock
Stock that has been repurchased by the issuing company and is held in the company™s treasury.
zvi
0
55.24
9.5
0
10.32
9.6
8.38
12
11.4
Treynor-Black model
A special case of the Markowitz model of efficient diversification, derived by assuming returns are generated by the index model.Treynor™s measure Ratio of excess return to beta.
zvi
0
18.69
17.4
0
15.03
18.6
13.75
18.5
16.73
trin statistic
Ratio of average trading volume in declining stocks to average volume in advancing stocks. Used in technical analysis.
zvi
0
36.96
10.3
0
12.84
9.5
11.98
6.5
14.71
trough
The transition point between recession and recovery.
zvi
0
30.53
10.7
0
17.35
13
10.75
5.5
19.94
turnover
The ratio of the trading activity of a portfolio to the assets of the portfolio.
zvi
0
47.79
10.3
0
7.24
6.8
9.64
10.5
11.33
12b-1 fees
Annual fees charged by a mutual fund to pay for marketing and distribution costs.
zvi
0
57.27
8.8
0
9.91
8.5
13.35
11
17.03
two-stage dividend discount model
Dividend discount model that allows for an initial high-growth period before the firm settles down to a sustainable growth trajectory.Final PDF to printerfi˝ 14
zvi
0
30.2
15
0
15.67
17.5
14.7
17
17.93
unbundling
See bundling.
zvi
0
120.21
-3.1
0
1.3
7.8
11.63
0
0.8
underwriters
Investment bankers who help companies issue their securities to the public.
zvi
0
43.39
9.9
0
15.29
11.9
11.36
7.5
15.31
underwriting, underwriting syndicate
Underwriters @investment bankers@ purchase securities from the issuing company and resell them. Usually a syndicate of investment bankers is organized behind a lead firm.
zvi
0
25.46
12.7
0
16.4
13.4
11.47
10.5
16.47
unemployment rate
The ratio of the number of people classified as unemployed to the total labor force.
zvi
0
56.25
9.1
0
8.81
8.1
10.7
8.5
11.33
unique risk
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also called firm-specific risk,
zvi
0
4.64
14.5
0
17.47
13.7
12.43
5.25
13.67
unit investment trust
Money invested in a portfolio whose composition is fixed for the life of the fund.
zvi
0
64.71
8
0
8.05
7.4
9.64
10.5
14
universal life policy
An insurance policy that allows for a varying death benefit and premium level over the term of the policy, with an interest rate on the cash value that changes with market interest rates.
zvi
0
37.98
16.2
0
10.22
17.2
9.58
23.5
19.26
utility
The measure of the welfare or satisfaction of an investor.
zvi
0
61.33
7.2
0
9.08
6.6
8.87
5
8
utility value
The welfare a given investor assigns to an investment with a particular return and risk.
zvi
0
47.79
10.3
0
10.37
9.3
10.7
8.5
11.33
value at risk VaR
Measure of downside risk. The loss that will be incurred in the event of an extreme adverse price change with some given, typically low, probability.
zvi
0
67.25
7
0
9.9
8.4
9.31
6.25
8.2
variable annuities
Annuity contracts in which the insurance company pays a periodic amount linked to the investment performance of an underlying portfolio.
zvi
0
17.34
15.8
0
16.36
16.1
12.52
18
22
variable life policy
An insurance policy that provides a fixed death benefit plus a cash value that can be invested in a variety of funds from which the policyholder can choose.
zvi
0
43.06
14.2
0
9.52
14.3
10.66
20
19.77
variation margin
See maintenance margin.
zvi
0
34.59
9.2
0
13.12
13
14.31
1.5
14.53
vega
The response of option price to a change in the standard deviation of the underlying asset.
zvi
0
46.78
10.7
0
9.63
8.9
10.35
9
11.4
venture capital VC
Money invested to finance a new, not yet publicly traded firm.
zvi
0
68.77
6.4
0
7.93
6.3
11.36
5.5
8.04
views
An analyst™s opinion on the likely performance of a stock or sector compared to the market-consensus expectation.
zvi
0
28.84
13.5
0
14.85
14
11.91
12.5
16.21
volatility risk
The risk in the value of options portfolios due to unpredictable changes in the volatility of the underlying asset.
zvi
0
43.73
11.9
0
12.01
12.1
11.23
13.5
16.02
weak-form EMH
See efficient market hypothesis.
zvi
0
-8.73
15.5
0
17.4
14.7
11.73
3
21.6
well-diversified portfolio
A portfolio spread out over many securities in such a way that the weight in any security is close to zero, resulting in negligible diversifi-able risk.
zvi
0
36.63
14.6
0
10.68
14.6
10.39
19
19.63
whole-life insurance policy
Provides a death benefit and a kind of savings plan that builds up cash value for possible future withdrawal.
zvi
0
60.65
9.5
0
10.21
10.6
8.73
12.5
11.81
workout period
Realignment period of a temporary misaligned yield relationship.
zvi
0
-4.33
15.9
0
20.95
16.2
15.88
7
23.2
world investable wealth
The part of world wealth that is traded and is therefore accessible to investors.
zvi
0
74.19
6.4
0
9.91
8.5
8.84
7
8.46
writing a call
Selling a call option.
zvi
0
75.88
3.7
0
2.9
2.9
11.73
1
1.6
yield curve
A graph of yield to maturity as a function of time to maturity.
zvi
0
66.74
7.2
0
4.16
3.5
9.14
7.5
8.28
yield to maturity YTM
A measure of the average rate of return that will be earned on a bond if held to maturity.
zvi
0
69.11
8.3
0
4.41
5.9
7.9
11.5
11.81
zero-beta portfolio
The minimum-variance portfolio uncorrelated with a chosen efficient portfolio.
zvi
0
-30.73
19.8
0
24.79
19.7
12.86
8.5
21.38
zero-coupon bond
A bond paying no coupons that sells at a discount and provides only payment of face value at maturity.
zvi
0
60.65
9.5
0
8.07
8.9
10.4
10.5
9.71
zero-investment portfolio
A portfolio of zero net value, established by buying and shorting component securities, usually in the context of an arbitrage strategy.Final PDF to printer
zvi
0
13.28
17.4
0
14.45
16.7
14.04
19
21.27
Absolute advantage
The ability of Coun-try A to produce a commodity ciently @i.e., with greater output per unit of input@ than Country B. Possession of such an absolute advantage does not nec-essarily mean that A can export this commodity to B successfully. Country B may still have the com-parative advantage.
sam
1
38.32
11.9
13.6
10.55
10.5
11.34
11.333333
13.07
Actual, cyclical, and structural budget
The actual budget cit or surplus is the amount recorded in a given year. This is composed of the structural budget, which calcu-lates what government revenues, cits would be if the economy were operating at potential output, and the cycli-cal budget, which measures the effect of the business cycle on the budget.
sam
1
28.17
15.8
0
11.32
15.3
11
16
13.48
Adaptive expectations
See expecta-tions.
sam
1
-49
20.6
0
12.9
19.6
19.53
1
20.8
Adverse selection
A type of market failure in which those people with the highest risk are the most likely to buy insurance. More broadly, adverse selection encompasses sit-uations in which sellers and buyers have different information about a product, such as in the market for used cars.
sam
1
40.18
13.2
0
11.61
13.6
10.02
14.25
12.56
Aggregate demand
Total planned or desired spending in the economy during a given period. It is deter-mined by the aggregate price level uenced by domestic invest-ment, net exports, government spending, the consumption func-tion, and the money supply.
sam
1
28.33
13.7
0
13.92
14.1
12.63
12.75
12.71
Appreciation
@of a currency@. See depreciation @of a currency@.
sam
1
-12.79
17
0
7.21
7.9
7.98
2.5
13.2
Appropriable
Term applied to resources for which the owner can capture the full economic value. In a well-functioning competitive market, appropriable resources ciently. Also refer to inappropriable.
sam
1
3.42
14.9
10.5
15.45
12.1
10.14
5
11.17
Arbitrage
The purchase of a good or asset in one market for immediate resale in another market in order t from a price discrepancy.
sam
1
39.67
13.4
0
7.72
10.3
8.9
14.5
12.68
Asset
A physical property or intangi-ble right that has economic value. Important examples are plant, equipment, land, patents, copy- nancial instruments such as money or bonds.
sam
1
24.95
12.9
0
14.08
12.5
11.2
8.75
14.6
Asymmetric information
A situation where one party to a transaction has better information than the other party. This often leads to a market failure or even to no mar-ket at all.
sam
1
56.76
8.9
0
7.13
6.6
8.17
7.75
9.94
Automatic
@ or built-in@ stabilizers. The property of a government tax and spending system that cushions income changes in the private sector. Examples include unem- ployment compensation and pro- gressive income taxes.
sam
1
35.95
10.7
10.5
14.3
11.7
12.55
5.833333
9.33
Budget
An account, usually for a year, of planned expenditures and expected receipts. For a govern-ment, the receipts are tax reve-nues. See also actual, cyclical, and structural budget.
sam
1
28.5
11.5
10.5
11.68
9.8
11.1
5.166667
9.53
Business cycles
Fluctuations in total national output, income, and employment, usually lasting for a period of 2 to 10 years, marked by widespread and simultaneous expansion or contraction in many sectors of the economy. C C I G NX schedule. A schedule showing the planned or desired levels of aggregate demand for each level of GDP, or the graph on which this schedule is depicted.
sam
1
-26.32
32.6
0
10.87
32.8
14.53
14.166667
32.18
Average cost
Refer to cost, average.
sam
1
-93.33
27.3
0
2.9
4.1
11.73
2
11.6
Average product
Total product or output divided by the quantity of one of the inputs. Hence, the aver- ned as total product divided by the amount of labor input, and simi-larly for other inputs. Average revenue. Total revenue divided by total number of units sold—i.e., revenue per unit. Aver-age revenue is generally equal to price.
sam
1
28.13
13.7
12.5
9.97
11
10.47
7.625
10.1
Average tax rate
Total taxes divided by total income; also known as effective tax rate.
sam
1
42.38
10.3
0
9.38
7.7
9.5
7
11.47