> ## Documentation Index
> Fetch the complete documentation index at: https://docs.activeviam.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Risk factor [MAR10.9]

The **Risk Factor** is used to identify [sensitivities](./sensitivities).
However, it is not used directly in the calculations, instead the **[Tranche](./tranche)**, **Curve Type**, and tenor fields are used (as appropriate for the risk-measure).
This means that multiple **Risk Factor Names** may be used for the same risk-factor.

| Field                     | Key | Risk Measure | Description                                         |
| ------------------------- | --- | ------------ | --------------------------------------------------- |
| As-of Date                | Y   | All          | Timestamp (at close of business) for the data (T-1) |
| Risk Factor Name          | Y   | All          | A name for the risk-factor                          |
| Risk Class                | Y   | All          | “CSR non-Sec”                                       |
| Risk Measure              | Y   | All          | “Delta”, “Vega”, or “Curvature”                     |
| Sensitivity Tenor         |     | Delta        | The time to maturity of the traded instrument       |
| Option Maturity           |     | Vega         | The maturity of the option                          |
| Tranche Name (Underlying) |     | All          | The name of the tranche credit spread curve         |
| Curve Type                |     | Delta & Vega | “Bond” or “CDS”                                     |

For Curvature, the risk-factor is the same as the underlying.