# DV01

*Markets & Instruments — Finicade finance glossary*

The dollar change in a bond or portfolio's value for a one-basis-point move in yield — 'dollar value of an 01'. Traders use it to size and hedge interest-rate risk in cash terms rather than percentages.

**Also known as:** pv01, dollar duration

**Related terms:** [Modified Duration](https://finicade.com/glossary/modified-duration), [Duration](https://finicade.com/glossary/duration), [Hedging](https://finicade.com/glossary/hedging)

**Taught in:** Quant Quest — Bond Risk Mechanics, Worked

Source: https://finicade.com/glossary/dv01