Respuesta :
The sensitivity of a derivative's value to price of underlying asset is measured by derivative's delta.
What is an underlying asset?
A financial derivative's underlying asset is referred to by the investment phrase "underlying asset" and denotes the actual financial asset or security on which it is based. As a result, the value of the underlying asset determines the value of the financial derivative. The location of the trading market is one feature that differentiates underlying financial assets apart from derivatives. Unlike financial derivatives, which are typically traded solely on specialist exchanges like futures trading exchanges, privately or in over-the-counter markets, underlying assets are almost always available for trading in the cash, or "spot," markets. There are many sorts, or classes, of underlying assets, and each one has particular qualities that have an impact on the nature and structure of the derivatives related to it.
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