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Duration is an approximate measure of a bond's price sensitivity to changes in interest rates. If a bond has a duration of 6 years, for example, its price will rise about 6% if its yield drops by a percentage point (100 basis points), and its price will fall by about 6% if its yield rises by that amount.
Some also use length in the same context as distance like when one says, âHold it at armâs length!â. Summary: 1.Length is describing how long something is while width is describing how wide an object is. 2.In geometry, length pertains to the longest side of the rectangle while width is the shorter side. 3.Length can also refer to an extent of time or a measure of distance. 4.The most common unit for measuring length is the meter.