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Second pass regression |
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Definition of Second pass regressionSecond pass regressionA cross-sectional regression of portfolio returns on betas. The estimated slope is the
Related Terms:Agency pass-throughsMortgage pass-through securities whose principal and interest payments are Conventional pass-throughsAlso called private-label pass-throughs, any mortgage pass-through security not First-pass regressionA time series regression to estimate the betas of securities portfolios. Fully modified pass-throughsAgency pass-throughs that guarantee the timely payment of both interest and Linear regressionA statistical technique for fitting a straight line to a set of data points. Modified pass-throughsAgency pass-throughs that guarantee (1) timely interest payments and (2) principal Mortgage pass-through securityAlso called a passthrough, a security created when one or more mortgage Multiple regressionThe estimated relationship between a dependent variable and more than one explanatory variable. Passive portfolio strategyA strategy that involves minimal expectational input, and instead relies on Pass-through rateThe net interest rate passed through to investors after deducting servicing, management, Pass-through securitiesA pool of fixed-income securities backed by a package of assets (i.e. mortgages) Pass-through coupon rateThe interest rate paid on a securitized pool of assets, which is less than the rate Passive investment strategySee: passive management. Passive investment managementBuying a well-diversified portfolio to represent a broad-based market Passive portfolioA market index portfolio. Private-label pass-throughsRelated: Conventional pass-throughs. Regression analysisA statistical technique that can be used to estimate relationships between variables. Regression equationAn equation that describes the average relationship between a dependent variable and a Regression toward the meanThe tendency for subsequent observations of a random variable to be closer to its mean. Secondary issue1) Procedure for selling blocks of seasoned issues of stocks. Secondary marketThe market where securities are traded after they are initially offered in the primary Simple linear regressionA regression analysis between only two variables, one dependent and the other explanatory. Secondary MarketThe market where securities are exchanged between investors. least squares regression analysisa statistical technique that investigates the association between dependent and independent variables; it determines the line of "best fit" for a set of observations by minimizing the sum of the squares multiple regressiona statistical technique that uses two or regression lineany line that goes through the means (or averages) of the set of observations for an independent variable and its dependent variables; mathematically, there is a line of “best fit,” which is the least squares regression line simple regressiona statistical technique that uses only one independent variable to predict a dependent variable Regression analysisStatistical analysis techniques that quantify the secondary marketMarket in which already issued securities are traded among investors. Secondary MarketNew security issues are first sold directly to the public by the issuing firm or the government. After this initial sale, the owners of the securities can trade them among themselves or others; such activity is said to take place on the secondary market. Secondary MarketIn investment terminology, the market in which securities are traded after they have been issued by corporations. When a company sells a new issue of securities, the transaction is considered a "primary market transaction".
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