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underlying
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As an adjective, underlying means lying underneath. As a noun, it means the entity from whose performance a derivative derives its value.
Meanings of underlying
7 meaningsadjective
Lying underneath
“We dug down to the underlying rock.”
Basic or fundamental
“Points and straight lines are underlying elements of geometry.”
Implicit
“Many nursery rhymes have an underlying meaning.”
In the nature of something though not readily apparent
“shortcomings inherent in our approach”
“an underlying meaning”
Similar: implicit in, inherentLocated beneath or below
Being or involving basic facts or principles
“the fundamental laws of the universe”
“a fundamental incompatibility between them”
“these rudimentary truths”
Similar: fundamental, rudimentary
noun
financeThe entity from whose performance a derivative derives its value.
verb
Present participle of underlie
Meanings from Wiktionary (CC BY-SA 4.0) and Open English WordNet (CC BY 4.0).