Super Finance Glossary
Over 10,000 financial glossary terms...
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Browsing by the letter "A"
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Active Income
Definition: Income from an active business as opposed to passive investment income according to the U.S. tax code.
Definition: Income from an active business as opposed to passive investment income according to the U.S. tax code.
Active Management
Definition: The pursuit of investment returns in excess of a specified benchmark.
Definition: The pursuit of investment returns in excess of a specified benchmark.
Active Portfolio Strategy
Definition: A strategy that uses available information and forecasting techniques to seek better performance than a buy and hold portfolio. Related: Passive portfolio strategy.
Definition: A strategy that uses available information and forecasting techniques to seek better performance than a buy and hold portfolio. Related: Passive portfolio strategy.
Active Return
Definition: Return relative to a benchmark. If a portfolio's return is 5%, and the benchmark's return is 3%, then the portfolio's active return is 2%.
Definition: Return relative to a benchmark. If a portfolio's return is 5%, and the benchmark's return is 3%, then the portfolio's active return is 2%.
Active Risk
Definition: The risk (annualized standard deviation) of the active return. Also called the tracking error.
Definition: The risk (annualized standard deviation) of the active return. Also called the tracking error.
Actual Market
Definition: Used in context of general equities. Firm market. Antithesis of Subject market.
Definition: Used in context of general equities. Firm market. Antithesis of Subject market.
Actuals [Cash And Spot Commodities]
Definition: The physical or cash commodity, as distinguished from a futures contract. See Cash and Spot Commodity.
Definition: The physical or cash commodity, as distinguished from a futures contract. See Cash and Spot Commodity.
Actuals [Underlying Commodities]
Definition: The physical commodities underlying a futures contract. Cash commodity, physical asset.
Definition: The physical commodities underlying a futures contract. Cash commodity, physical asset.
Ad Valorem Tax
Definition: A type of tax calculated based on percentage of gross or stated value. For example, VAT.
Definition: A type of tax calculated based on percentage of gross or stated value. For example, VAT.
Additional Bonds Test
Definition: A test for ensuring that bond issuers can meet the debt service requirements of issuing any new additional bonds.
Definition: A test for ensuring that bond issuers can meet the debt service requirements of issuing any new additional bonds.
Adequacy Of Coverage
Definition: A test that measures the extent to which the value of an asset is protected from potential loss either through insurance or hedging.
Definition: A test that measures the extent to which the value of an asset is protected from potential loss either through insurance or hedging.
Adjustable Mortgage Loan
Definition: A mortgage instrument that allows maximum flexibility in selecting the terms under which interest rates and payments may be adjusted over the maturity of the loan. Includes adjustable rate mortgages, renegotiated rate mortgages, variable rate mortgages.
Definition: A mortgage instrument that allows maximum flexibility in selecting the terms under which interest rates and payments may be adjusted over the maturity of the loan. Includes adjustable rate mortgages, renegotiated rate mortgages, variable rate mortgages.
Adjustable Rate
Definition: Applies mainly to convertible securities. Refers to interest rate or dividend that is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bonds or notes. Typically, such issues have a set floor or ceiling, called caps and collars that limits the adjustment.
Definition: Applies mainly to convertible securities. Refers to interest rate or dividend that is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bonds or notes. Typically, such issues have a set floor or ceiling, called caps and collars that limits the adjustment.
Adjustable Rate Mortgage (ARM)
Definition: A mortgage loan that allows the interest rate to be changed, usually based on an established index, at specific intervals over the maturity of the loan.
Definition: A mortgage loan that allows the interest rate to be changed, usually based on an established index, at specific intervals over the maturity of the loan.
Adjustable-rate Mortgage (ARM)
Definition: A mortgage that features predetermined adjustments of the loan interest rate at regular intervals based on an established index. The interest rate is adjusted at each interval to a rate equivalent to the index value plus a predetermined spread, or margin, over the index, usually subject to per-interval and to life-of-loan interest rate and/or payment rate caps.
Definition: A mortgage that features predetermined adjustments of the loan interest rate at regular intervals based on an established index. The interest rate is adjusted at each interval to a rate equivalent to the index value plus a predetermined spread, or margin, over the index, usually subject to per-interval and to life-of-loan interest rate and/or payment rate caps.
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