What is ODDFYIELD?
ODDFYIELD is a DAX function that is used to calculate the yield of a security that has an odd (or non-standard) first interest period. This function is typically used for calculating the yield of bonds that have an irregular first interest period.
The ODDFYIELD function takes the following arguments:
– Settlement: The date when the security is traded and the transaction is completed
– Maturity: The date when the security matures
– Last Interest: The date of the last interest payment
– Rate: The annual coupon rate of the security
– Pr: The price per $100 face value of the security
– Redemption: The redemption value per $100 face value of the security
– Frequency: The number of coupon payments per year
– Basis: The day count basis to be used in the calculation
How to use ODDFYIELD in Power BI
To use the ODDFYIELD function in Power BI, you need to create a new measure in your data model. You can do this by selecting the “New Measure” option from the “Modelling” tab in the Power BI Desktop.
Once you have created a new measure, you can enter the ODDFYIELD function into the formula bar. The formula should look like this:
ODDFYIELD(Settlement, Maturity, Last Interest, Rate, Pr, Redemption, Frequency, Basis)
You will need to replace each argument with a valid reference to a column in your data model. For example, if you have a column called “Settlement Date” that contains the settlement date for each security, you would replace the “Settlement” argument with “Settlement Date”.
Example of using ODDFYIELD
Let’s say you have a dataset that contains information about a bond that has an odd first interest period. The dataset contains the following columns:
– Settlement Date
– Maturity Date
– Last Interest Date
– Coupon Rate
– Redemption Value
– Coupon Frequency
– Day Count Basis
To calculate the yield of the bond using the ODDFYIELD function, you would create a new measure and enter the following formula:
ODDFYIELD([Settlement Date], [Maturity Date], [Last Interest Date], [Coupon Rate], [Price], [Redemption Value], [Coupon Frequency], [Day Count Basis])
Power BI would then calculate the yield of the bond based on the information in your dataset.
The ODDFYIELD function is a powerful tool that can be used to analyze financial data in Power BI. By understanding how the function works and how to use it in your calculations, you can gain valuable insights into your financial data and make more informed business decisions.