convexity
UK[kɒnˈvɛksɪti]US[kɑːnˈvɛksɪti]
n
the state or quality of having a surface or outline that curves outward like the exterior of a sphere or circle.
n
(finance) a measure of the curvature in the relationship between bond prices and bond yields, indicating the rate of change of duration.
Morpheme Breakdown
convex
ity
convex
curved outward
ity
noun suffix
Etymology
the word 'convexity' is built upon the latin adjective 'convexus', meaning arched or vaulted. this term itself is a compound of the prefix 'con-', a form of 'com-' meaning 'together', and 'vexus', a past participle of 'vehere' meaning 'to carry', but in this context, it evolved to suggest a shape that is carried or bent together into a rounded form. the suffix '-ity', from latin '-itas', was added to form a noun denoting the state or quality of being convex. thus, the literal 'state of being arched' evolved into the modern abstract meaning describing any outward-curving surface or, in finance, a measure of curvature in a mathematical relationship.
Analysis
Structure: convex (curved outward) + ity (noun suffix)
convex (from latin 'convexus', meaning vaulted, arched) + ity (from latin '-itas', a suffix forming nouns indicating a state or condition).
Examples
the convexity of the lens helps to focus light rays.
investors analyze the bond's convexity to assess interest rate risk.
the gentle convexity of the hill made for an easy slope to climb.