Growth Investing Stock Market Glossary
From A for ‘Asset’ to Z for the ‘Zero-Coupon Yield Curve’ — your comprehensive guide to everything that matters in the markets.
Z-Score (Altman-Z-Score)
Insolvency early warning indicator based on weighted balance sheet ratios.
Z-Spread (Zero-Volatility-Spread)
Constant spread on the yield curve that aligns the present value of cash flows with the market price.
Zahlungsreihe
Ordered sequence of deposits and withdrawals as the basis for valuation models.
Zeichnungsgewinn
The course plus between the issue price and the first stock market price after the listing.
Zeichnungsrecht
Right of existing shareholders to subscribe for new shares in proportion to capital increases.
Zeitwert
Current fair value of an asset at a specific date.
Zero-Beta-Portfolio
Portfolio with beta close to zero compared to the market with an independent source of return.
Zero-Coupon-Inflation-Swap (ZCIS)
Exchange fixed inflation payments for realized inflation in a single payment at the end of the term.
Zero-Coupon-Rate (ZCR)
Discount factor or interest rate for a lump sum payment at the end of the term.
Zerobond (Zero Coupon Bond)
Bond without ongoing coupons with yield from issuance discount.
Zielvolatilität
Targeted volatility level of a portfolio or product.
Zins
Price of capital per period as the basic measure of valuation and financing.
Zinsarbitrage
Exploitation of interest rate differentials between markets or currencies.
Zinsausgleich
Compensation payment for accrued interest in securities purchases between coupon dates.
Zinsbindung
Setting an interest rate for a specific period, often in the case of loans.
Zinsdeckungsgrad (ICR)
Ratio of result variables to interest expense as a debt service measure.
Zinsduration
Sensitivity of the bond price to interest rate changes in percentage points.
Zinsfutures
Standardized futures on interest rates or bond benchmarks.
Zinsgleitklausel
Agreement on the automatic adjustment of variable interest rates to reference rates.
Zinskurveninversion
Situation where short-term investments offer higher returns than long-term investments.
Zinskurvenparallelverschiebung
Uniform change in all maturities on the yield curve.
Zinsoption (Cap/Floor/Collar)
The text appears to be valid German.
Translated to English:
`Derivative to limit or participate in interest rate movements.`
Zinsparität, ungedeckt (UIP)
Expectation relationship between exchange rate change and interest rate differential without hedging.
Zinsperiode
Period between two interest payments of an instrument.
Zinsreset
Adjustment of variable interest rates of a floater to the reference rate at the reset date.
Zinsrisiko
Risk of loss from unexpected interest rate changes for prices and earnings.
Zinsstruktur
Distribution and relationship of interest rates across maturities, credit ratings, and markets.
Zinsstrukturhypothese
Theory to explain the shape of the yield curve, such as expectations or liquidity preference.
Zinsswap (IRS)
Exchange fixed for variable interest payments on a nominal amount.
Zinstermin (Kupontermin)
Due date of a periodic interest payment.
Zinsvolatilität
Fluctuation intensity of interest rates and prices derived from them.
Zinswende
Cyclical change from interest rate cuts to interest rate hikes or vice versa.
Zinsziel
The level of key money market rates targeted by the central bank.
Zinszielband
Tolerance corridor in which the central bank controls the key interest rate.
Zombie companies
A company that only survives thanks to favorable financing and can hardly meet debt service.
Zykliker (Cyclical Stock)
Stock with high sensitivity to economic cycles.
