对风险的刻画 方差 标准差 Var (value at risk) the expected maximum loss(or worst loss)over a target horizon within a given confidence interval P(W(0)-W(1)<amr(a)=1-a对风险的刻画 • 方差 • 标准差 • VaR (Value at Risk) – the expected maximum loss (or worst loss) over a target horizon within a given confidence interval P(W(0) −W(T) Var()) =1−