What is macaulay duration - Definition and Meaning

Macaulay Duration :

Macaulay Duration is a concept developed and named after Frederick Macaulay. It is measure of weighted average maturity of cash flows. Each cash flow weight can be found by dividing the present value of the cash flow by the price. The concept is commonly used by the portfolio managers.

Formula :

Macaulay Duration formula
Magnetic Flux Density Mean Absolute Error

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