hedqe — a finance lab

hedqe is an educational finance lab. You supply the inputs; it shows the formula it evaluated, the exhibit that explains it, and the number it produced. Six modules: • Time value of money: present and future value, annuities, amortization schedules, NPV and IRR. • Bonds: price and yield to maturity, Macaulay and modified duration, convexity, and the Taylor approximation of a price change. • Discounted cash flow: FCFF, WACC, the Gordon terminal value, enterprise value, and a sensitivity surface over the discount rate and the growth rate. • Portfolios: means and covariances, shrinkage, the global minimum variance and tangency portfolios, the efficient frontier, and CAPM beta. • Options: Black–Scholes–Merton, the Greeks, a Cox–Ross–Rubinstein lattice, implied volatility, payoff diagrams, forwards and covered interest parity. • Risk: value at risk and expected shortfall computed two ways, horizon scaling, and drawdown. What makes it different: Everything computes on your device. There is no account, no sign-up, and nothing is sent anywhere. hedqe works with no network connection at all. Available in English and Spanish, with a light and a dark theme. hedqe is an educational and analytical tool. Nothing in it is investment advice, a recommendation, or a solicitation. All inputs are your own; no market data is supplied and no live quotes are shown. hedqe — by VirtueNeuro. Free, with no advertising and no in-app purchases.