If VaR is measured on a daily basis and a typical month has 20–22 business days, then 5% of the days equates to about 1 day per month or once in 20 trading days.

NO.PZ201512181000007202问题如下In Statement 2, Kynnersley implies ththe portfolio: A.is risk of losing $4,500 eatrang y B.value is expecteto cline $90,000 or more onin 20 trang ys. C.ha 5% chanof falling in value a maximum of $90,000 on a single trang y. B is correct. Value risk is the minimum loss thwoulexpectea certain percentage of the time over a certain perioof time. Statement 2 implies ththere is a 5% chanthe portfolio will fall in value $90,000 (= $6,000,000 ×1.5%) or more in a single y. If Vis measureon a ily basis ana typicmonth h20–22 business ys, then 5% of the ys equates to about 1 y per month or onin 20 trang ys. 能翻译一下b吗，谢谢老师

NO.PZ201512181000007202问题如下In Statement 2, Kynnersley implies ththe portfolio: A.is risk of losing $4,500 eatrang y B.value is expecteto cline $90,000 or more onin 20 trang ys. C.ha 5% chanof falling in value a maximum of $90,000 on a single trang y. B is correct. Value risk is the minimum loss thwoulexpectea certain percentage of the time over a certain perioof time. Statement 2 implies ththere is a 5% chanthe portfolio will fall in value $90,000 (= $6,000,000 ×1.5%) or more in a single y. If Vis measureon a ily basis ana typicmonth h20–22 business ys, then 5% of the ys equates to about 1 y per month or onin 20 trang ys. 这个20y 问什么和一天一样 怎么理解

老师，这个5% of one y = onper month (1 y out of 20 ys is 5% of the month) 我懂 但是要是转换成月的概念，我们不是应该用那种 miu * 20 - sigma * sq root 20 么？ 为什么monthly mini loss和aly minimum loss 一样呢?

请问题目哪里说这个var给定的时间范围是一个月啊