{"id":6514,"date":"2025-07-15T13:34:48","date_gmt":"2025-07-15T13:34:48","guid":{"rendered":"https:\/\/functiontranslator.com\/duree\/"},"modified":"2021-02-26T08:05:18","modified_gmt":"2021-02-26T08:05:18","slug":"duration","status":"publish","type":"post","link":"https:\/\/functiontranslator.com\/fr\/duration\/","title":{"rendered":"DUREE"},"content":{"rendered":"<h2>Introduction \u00e0 la fonction DUREE<\/h2>\n<p>La fonction DUREE est utilis\u00e9e pour calculer la dur\u00e9e de Macaulay des titres \u00e0 revenu fixe, un concept essentiel dans la gestion du risque de taux d&rsquo;int\u00e9r\u00eat et l&rsquo;analyse des obligations. La dur\u00e9e de Macaulay mesure en ann\u00e9es le temps n\u00e9cessaire pour r\u00e9cup\u00e9rer le prix pay\u00e9 pour un titre via ses flux de tr\u00e9sorerie actualis\u00e9s.<\/p>\n<h2>Syntaxe de la fonction<\/h2>\n<p>La syntaxe pour la fonction DUREE diff\u00e8re l\u00e9g\u00e8rement entre Microsoft Excel et Google Sheets, mais les principes fondamentaux restent les m\u00eames.<\/p>\n<ul>\n<li><strong>Microsoft Excel :<\/strong>\n<pre><code>=DUREE(date_\u00e9mission, date_\u00e9ch\u00e9ance, taux_coupon, rendement, fr\u00e9quence, [base])<\/code><\/pre>\n<\/li>\n<li><strong>Google Sheets :<\/strong>\n<pre><code>=DURATION(date_\u00e9mission, date_\u00e9ch\u00e9ance, taux_coupon, rendement, fr\u00e9quence, [base])<\/code><\/pre>\n<\/li>\n<\/ul>\n<p><strong>Param\u00e8tres :<\/strong><\/p>\n<ul>\n<li><strong>date_\u00e9mission :<\/strong> la date \u00e0 laquelle l&rsquo;obligation est \u00e9mise.<\/li>\n<li><strong>date_\u00e9ch\u00e9ance :<\/strong> la date \u00e0 laquelle l&rsquo;obligation arrivera \u00e0 \u00e9ch\u00e9ance.<\/li>\n<li><strong>taux_coupon :<\/strong> le taux annuel du coupon de l&rsquo;obligation.<\/li>\n<li><strong>rendement :<\/strong> le taux de rendement annuel de l&rsquo;obligation.<\/li>\n<li><strong>fr\u00e9quence :<\/strong> le nombre de paiements de coupon par ann\u00e9e (1 = annuel, 2 = semestriel, etc.).<\/li>\n<li><strong>base :<\/strong> (optionnel) le type de d\u00e9compte des jours utilis\u00e9 (0 = US (NASD) 30\/360, 1 = R\u00e9el\/R\u00e9el, etc.).<\/li>\n<\/ul>\n<h2>Exemple de calcul<\/h2>\n<p>Consid\u00e9rons une obligation avec les caract\u00e9ristiques suivantes :<\/p>\n<ul>\n<li>Date d&rsquo;\u00e9mission : 01\/01\/2020<\/li>\n<li>Date d&rsquo;\u00e9ch\u00e9ance : 01\/01\/2030<\/li>\n<li>Taux de coupon : 5%<\/li>\n<li>Rendement : 6%<\/li>\n<li>Fr\u00e9quence de paiement : semestrielle (2)<\/li>\n<li>Base : US (NASD) 30\/360 (0)<\/li>\n<\/ul>\n<pre><code>=DUREE(\"01\/01\/2020\", \"01\/01\/2030\", 5%, 6%, 2, 0)<\/code><\/pre>\n<p>Ce calcul indique la dur\u00e9e en ann\u00e9es, refl\u00e9tant le temps moyen n\u00e9cessaire pour que l&rsquo;investissement initial soit r\u00e9cup\u00e9r\u00e9 \u00e0 travers les paiements des coupons et du principal.<\/p>\n<h2>Sc\u00e9narios d&rsquo;utilisation pratique<\/h2>\n<p>Voici quelques sc\u00e9narios o\u00f9 la fonction DUREE peut \u00eatre particuli\u00e8rement utile :<\/p>\n<h3>Sc\u00e9nario 1: Analyse de Sensibilit\u00e9<\/h3>\n<p>Un gestionnaire de portefeuille souhaite \u00e9valuer l&rsquo;impact d&rsquo;un changement de rendement sur la dur\u00e9e de ses obligations pour ajuster son exposition au risque de taux d&rsquo;int\u00e9r\u00eat.<\/p>\n<p>Il utilise la fonction DUREE pour simuler les variations de la dur\u00e9e des obligations en fonction de modifications hypoth\u00e9tiques du rendement.<\/p>\n<h3>Sc\u00e9nario 2: Comparaison de diff\u00e9rents titres<\/h3>\n<p>Un investisseur compare deux obligations aux caract\u00e9ristiques distinctes pour d\u00e9terminer laquelle correspond le mieux \u00e0 son horizon d&rsquo;investissement.<\/p>\n<p>Il utilise la fonction pour calculer et comparer la dur\u00e9e de chaque obligation, en tenant compte de leurs diff\u00e9rentes dates d&rsquo;\u00e9ch\u00e9ance, taux de coupon, et fr\u00e9quences de paiement.<\/p>\n<p>En somme, la fonction DUREE est un outil indispensable pour les investisseurs et gestionnaires de portefeuille souhaitant \u00e9valuer et g\u00e9rer le risque associ\u00e9 \u00e0 leurs investissements en obligations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renvoie la duR\u00e9e, en ann\u00e9es, d\u2019un titRe dont l\u2019int\u00e9R\u00eat est peR\u00e7u p\u00e9Riodiquement<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[311],"tags":[],"class_list":["post-6514","post","type-post","status-publish","format-standard","hentry","category-finances"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fonction DURATION (DUREE) dans Excel : comment \u00e7a marche, exemples et syntaxe<\/title>\n<meta name=\"description\" content=\"Pr\u00e9sentation de la fonction DURATION (DUREE) d\u2019Excel et Google Sheets. 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