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Bank of Alfa has a portfolio that consists of two shares: 100,000 shares of HSBC Holdings plc and 50,000 shares of Tesla. The average returns

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Bank of Alfa has a portfolio that consists of two shares: 100,000 shares of HSBC Holdings plc and 50,000 shares of Tesla. The average returns and standard deviation of each share are listed below: Mean Returns Standard Deviation HSBC Holdings plc -9.20% 2.66% Tesla 500% 70% Correlation coefficient of these two shares is 0.01. Today HSBC and Tesla shares are traded at US$30.64 and US$597.95 respectively. a) Estimate tomorrow's VaR for these two shares with a confidence level of 95%, assuming that the returns on each share follow the normal distribution. b) Estimate 30-day VaR for this portfolio with a confidence level of 95%

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