{"id":5691,"date":"2025-07-15T13:34:45","date_gmt":"2025-07-15T13:34:45","guid":{"rendered":"https:\/\/functiontranslator.com\/mduration\/"},"modified":"2021-02-26T09:59:25","modified_gmt":"2021-02-26T09:59:25","slug":"mduration","status":"publish","type":"post","link":"https:\/\/functiontranslator.com\/cs\/mduration\/","title":{"rendered":"MDURATION"},"content":{"rendered":"

\u00davod do v\u00fdpo\u010dtu modifikovan\u00e9 doby trv\u00e1n\u00ed dluhopisu<\/h2>\n

Modifikovan\u00e1 doba trv\u00e1n\u00ed, zn\u00e1m\u00e1 jako MDURATION v Excelu a Google Sheets, je finan\u010dn\u00ed funkce pou\u017e\u00edvan\u00e1 k vyhodnocen\u00ed citlivosti ceny dluhopisu na zm\u011bny \u00farokov\u00fdch sazeb. Tato hodnota, vyj\u00e1d\u0159en\u00e1 v letech, je kl\u00ed\u010dov\u00e1 pro investory ke spr\u00e1vn\u00e9mu hodnocen\u00ed rizika a stability dluhov\u00fdch n\u00e1stroj\u016f. N\u00e1sledn\u011b je pops\u00e1no, jak s funkc\u00ed efektivn\u011b pracovat.<\/p>\n

Popis a syntaxe funkce<\/h2>\n

Syntaxe funkce MDURATION v Excelu a Google Sheets i jej\u00ed parametry jsou jednoduch\u00e9 a intuitivn\u00ed:<\/p>\n

MDURATION(settlement, maturity, coupon, yld, frequency, [basis])<\/code><\/pre>\n
    \n
  • settlement<\/code> – datum vyrovn\u00e1n\u00ed dluhopisu, co\u017e je den, kdy kupuj\u00edc\u00ed za\u010d\u00edn\u00e1 b\u00fdt vystaven \u00farokov\u00e9mu riziku.<\/li>\n
  • maturity<\/code> – datum splatnosti dluhopisu, tedy kdy m\u00e1 b\u00fdt zaplacena jeho hlavn\u00ed \u010d\u00e1stka.<\/li>\n
  • coupon<\/code> – ro\u010dn\u00ed kuponov\u00e1 sazba dluhopisu.<\/li>\n
  • yld<\/code> – ro\u010dn\u00ed v\u00fdnos dluhopisu.<\/li>\n
  • frequency<\/code> – frekvence kuponov\u00fdch plateb za rok, b\u011b\u017en\u011b 1 (ro\u010dn\u011b), 2 (pololetn\u011b), nebo 4 (\u010dtvrtletn\u011b).<\/li>\n
  • basis<\/code> – nepovinn\u00fd argument specifikuj\u00edc\u00ed metodu u\u010dtov\u00e1n\u00ed dne pou\u017eitou pro v\u00fdpo\u010det, nap\u0159\u00edklad 0 pro 30\/360 metodu, 1 pro aktu\u00e1ln\u00ed\/aktu\u00e1ln\u00ed, atd.<\/li>\n<\/ul>\n
    Praktick\u00e9 aplikace ve finan\u010dn\u00ed anal\u00fdze<\/h2>\n
    Modifikovan\u00e1 doba trv\u00e1n\u00ed m\u016f\u017ee b\u00fdt vyu\u017eita v n\u00e1sleduj\u00edc\u00edch p\u0159\u00edpadech:<\/p>\n
      \n
    1. Hodnocen\u00ed investice do dluhopisu:<\/b> Investor srovn\u00e1v\u00e1 dva dluhopisy s r\u016fzn\u00fdmi kuponov\u00fdmi sazbami a dobami splatnosti ke zji\u0161t\u011bn\u00ed, kter\u00fd z nich je m\u00e9n\u011b citliv\u00fd na zm\u011bny v \u00farokov\u00fdch sazb\u00e1ch.<\/li>\n
    2. Rizikov\u00e9 \u0159\u00edzen\u00ed portfolia:<\/b> Finan\u010dn\u00ed mana\u017eer hled\u00e1 zp\u016fsoby, jak sn\u00ed\u017eit portfoliov\u00e9 riziko t\u00edm, \u017ee vypo\u010d\u00edt\u00e1 a optimalizuje doby trv\u00e1n\u00ed r\u016fzn\u00fdch dluhopis\u016f, aby minimalizoval potenci\u00e1ln\u00ed ztr\u00e1ty v d\u016fsledku zm\u011bn \u00farokov\u00fdch sazeb.<\/li>\n<\/ol>\n
      P\u0159\u00edklad v\u00fdpo\u010dtu a aplikace<\/h2>\n
      Pro zji\u0161t\u011bn\u00ed modifikovan\u00e9 doby trv\u00e1n\u00ed dluhopisu s n\u00e1sleduj\u00edc\u00edmi specifikacemi:<\/p>\n\n\n\n\n\n\n\n\n
      Parametr<\/th>\nHodnota<\/th>\n<\/tr>\n
      Datum vyrovn\u00e1n\u00ed<\/td>\n01.01.2023<\/td>\n<\/tr>\n
      Datum splatnosti<\/td>\n01.01.2028<\/td>\n<\/tr>\n
      Kuponov\u00e1 sazba<\/td>\n5%<\/td>\n<\/tr>\n
      V\u00fdnos<\/td>\n6%<\/td>\n<\/tr>\n
      Frekvence<\/td>\n2<\/td>\n<\/tr>\n
      Z\u00e1klad<\/td>\n0<\/td>\n<\/tr>\n<\/table>\n
      =MDURATION(\"01.01.2023\", \"01.01.2028\", 0.05, 0.06, 2, 0)<\/code><\/pre>\n
      Tento p\u0159\u00edklad ukazuje z\u00e1kladn\u00ed metodu pro v\u00fdpo\u010det modifikovan\u00e9 doby trv\u00e1n\u00ed dluhopisu v Excelu nebo Google Sheets. V\u00fdsledn\u00e1 hodnota ukazuje, kolik let je pot\u0159eba, aby byla cena dluhopisu pln\u011b adjusted na zm\u011bny v \u00farokov\u00fdch sazb\u00e1ch.<\/p>\n","protected":false},"excerpt":{"rendered":"
      Vr\u00e1t\u00ed Macauleyho modifikovanou dobu cenn\u00e9ho pap\u00edru o\u00a0nomin\u00e1ln\u00ed hodnot\u011b 100 K\u010d<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[283],"tags":[],"class_list":["post-5691","post","type-post","status-publish","format-standard","hentry","category-financni"],"acf":[],"yoast_head":"\nFunkce MDURATION v Excelu: jak funguje, primjeri kori\u0161tenja formule<\/title>\n<meta name=\"description\" content=\"Opis funkcije MDURATION u Excelu i Google tablicama. Sintaksa, parametri funkcije te prakti\u010dni primjeri.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/functiontranslator.com\/cs\/mduration\/\" \/>\n<meta property=\"og:locale\" content=\"cs_CZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Funkce MDURATION v Excelu: jak funguje, primjeri kori\u0161tenja formule\" \/>\n<meta property=\"og:description\" content=\"Opis funkcije MDURATION u Excelu i Google tablicama. Sintaksa, parametri funkcije te prakti\u010dni primjeri.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/functiontranslator.com\/cs\/mduration\/\" \/>\n<meta property=\"og:site_name\" content=\"Function Translator\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-15T13:34:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-26T09:59:25+00:00\" \/>\n<meta name=\"author\" content=\"glavadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Funkce MDURATION v Excelu: jak funguje, primjeri kori\u0161tenja formule\" \/>\n<meta name=\"twitter:label1\" content=\"Napsal(a)\" \/>\n\t<meta name=\"twitter:data1\" content=\"glavadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Odhadovan\u00e1 doba \u010dten\u00ed\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minuty\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/functiontranslator.com\/cs\/mduration\/\",\"url\":\"https:\/\/functiontranslator.com\/cs\/mduration\/\",\"name\":\"Funkce MDURATION v Excelu: jak funguje, primjeri kori\u0161tenja formule\",\"isPartOf\":{\"@id\":\"https:\/\/functiontranslator.com\/no\/#website\"},\"datePublished\":\"2025-07-15T13:34:45+00:00\",\"dateModified\":\"2021-02-26T09:59:25+00:00\",\"author\":{\"@id\":\"https:\/\/functiontranslator.com\/no\/#\/schema\/person\/87663eece497ca58643166ecb09f1389\"},\"description\":\"Opis funkcije MDURATION u Excelu i Google tablicama. Sintaksa, parametri funkcije te prakti\u010dni primjeri.\",\"breadcrumb\":{\"@id\":\"https:\/\/functiontranslator.com\/cs\/mduration\/#breadcrumb\"},\"inLanguage\":\"cs\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/functiontranslator.com\/cs\/mduration\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/functiontranslator.com\/cs\/mduration\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Funkce aplikace Excel\",\"item\":\"https:\/\/functiontranslator.com\/cs\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Finan\u010dn\u00ed\",\"item\":\"https:\/\/functiontranslator.com\/cs\/financni\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"MDURATION\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/functiontranslator.com\/no\/#website\",\"url\":\"https:\/\/functiontranslator.com\/no\/\",\"name\":\"Function Translator\",\"description\":\"Excel function translator\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/functiontranslator.com\/no\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"cs\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/functiontranslator.com\/no\/#\/schema\/person\/87663eece497ca58643166ecb09f1389\",\"name\":\"glavadmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"cs\",\"@id\":\"https:\/\/functiontranslator.com\/no\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/03ccd9347c5339db75deede5a8c5b2bf1d40e0bce26a5251fcaac6331d381db8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/03ccd9347c5339db75deede5a8c5b2bf1d40e0bce26a5251fcaac6331d381db8?s=96&d=mm&r=g\",\"caption\":\"glavadmin\"},\"sameAs\":[\"https:\/\/functiontranslator.com\"],\"url\":\"https:\/\/functiontranslator.com\/cs\/author\/glavadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Funkce MDURATION v Excelu: jak funguje, primjeri kori\u0161tenja formule","description":"Opis funkcije MDURATION u Excelu i Google tablicama. Sintaksa, parametri funkcije te prakti\u010dni primjeri.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/functiontranslator.com\/cs\/mduration\/","og_locale":"cs_CZ","og_type":"article","og_title":"Funkce MDURATION v Excelu: jak funguje, primjeri kori\u0161tenja formule","og_description":"Opis funkcije MDURATION u Excelu i Google tablicama. Sintaksa, parametri funkcije te prakti\u010dni primjeri.","og_url":"https:\/\/functiontranslator.com\/cs\/mduration\/","og_site_name":"Function Translator","article_published_time":"2025-07-15T13:34:45+00:00","article_modified_time":"2021-02-26T09:59:25+00:00","author":"glavadmin","twitter_card":"summary_large_image","twitter_title":"Funkce MDURATION v Excelu: jak funguje, primjeri kori\u0161tenja formule","twitter_misc":{"Napsal(a)":"glavadmin","Odhadovan\u00e1 doba \u010dten\u00ed":"2 minuty"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/functiontranslator.com\/cs\/mduration\/","url":"https:\/\/functiontranslator.com\/cs\/mduration\/","name":"Funkce MDURATION v Excelu: jak funguje, primjeri kori\u0161tenja formule","isPartOf":{"@id":"https:\/\/functiontranslator.com\/no\/#website"},"datePublished":"2025-07-15T13:34:45+00:00","dateModified":"2021-02-26T09:59:25+00:00","author":{"@id":"https:\/\/functiontranslator.com\/no\/#\/schema\/person\/87663eece497ca58643166ecb09f1389"},"description":"Opis funkcije MDURATION u Excelu i Google tablicama. Sintaksa, parametri funkcije te prakti\u010dni primjeri.","breadcrumb":{"@id":"https:\/\/functiontranslator.com\/cs\/mduration\/#breadcrumb"},"inLanguage":"cs","potentialAction":[{"@type":"ReadAction","target":["https:\/\/functiontranslator.com\/cs\/mduration\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/functiontranslator.com\/cs\/mduration\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Funkce aplikace Excel","item":"https:\/\/functiontranslator.com\/cs\/"},{"@type":"ListItem","position":2,"name":"Finan\u010dn\u00ed","item":"https:\/\/functiontranslator.com\/cs\/financni\/"},{"@type":"ListItem","position":3,"name":"MDURATION"}]},{"@type":"WebSite","@id":"https:\/\/functiontranslator.com\/no\/#website","url":"https:\/\/functiontranslator.com\/no\/","name":"Function Translator","description":"Excel function translator","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/functiontranslator.com\/no\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"cs"},{"@type":"Person","@id":"https:\/\/functiontranslator.com\/no\/#\/schema\/person\/87663eece497ca58643166ecb09f1389","name":"glavadmin","image":{"@type":"ImageObject","inLanguage":"cs","@id":"https:\/\/functiontranslator.com\/no\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/03ccd9347c5339db75deede5a8c5b2bf1d40e0bce26a5251fcaac6331d381db8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/03ccd9347c5339db75deede5a8c5b2bf1d40e0bce26a5251fcaac6331d381db8?s=96&d=mm&r=g","caption":"glavadmin"},"sameAs":["https:\/\/functiontranslator.com"],"url":"https:\/\/functiontranslator.com\/cs\/author\/glavadmin\/"}]}},"_links":{"self":[{"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/posts\/5691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/comments?post=5691"}],"version-history":[{"count":2,"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/posts\/5691\/revisions"}],"predecessor-version":[{"id":30829,"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/posts\/5691\/revisions\/30829"}],"wp:attachment":[{"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/media?parent=5691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/categories?post=5691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/functiontranslator.com\/cs\/wp-json\/wp\/v2\/tags?post=5691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}