BOSTON ( TheStreet) -- Stocks have rebounded after bottoming a year ago, but weary investors are still putting more money into bonds. Unfortunately, many of them lack the tools to pick the right issues.Last week, we discussed how investors could use duration to gauge a bond's sensitivity to interest rates. Duration can help investors determine the price change for a bond when there's a small parallel shift in the yield curve. However, a measure based on duration isn't exact because the price-to-yield curve isn't a straight line. Here's where "convexity" can help. Duration and convexity can help investors pick bonds that match their interest rate assumptions. Investors who are trying to anticipate rising interest rates should seek bonds with short duration and high convexity. Convexity measures the curve of the price-to-yield line. A more curved line will make a bond's price move less when interest rates change. Using these metrics requires some low-level calculus. Duration is the first derivative of the price-to-yield curve, meaning that it's the rate of change for a given point. Convexity is the second derivative of the same point, meaning that it is the rate of change of the rate of change. The graph below shows the duration and convexity of a 10-year Treasury note. The duration is a straight line touching the price-to-yield curve at the current price. The duration estimates the bond's price accurately when the changes in interest rates are small. When the charges are large, duration becomes a less reliable price gauge. Convexity adjusts for the curvature of the price-to-yield curve to generate an accurate price.