The dollar amount by which the market value of a $100 par bond would change following a change of one basis point in the bond’s yield. This value can be obtained from a bond’s full price (its quoted price plus accrued interest), its modified duration, and one basis point:

DV01= P x D_M × 0.0001

where:

P is the bond’s full price
DM is the bond’s modified duration

This value is also known as price value of a basis point.