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Calculate the 5-day 99% VaR for this portfolio. What does it mean? This is a question I am struggling with. I have invested in both

Calculate the 5-day 99% VaR for this portfolio. What does it mean?

This is a question I am struggling with.

I have invested in both APA Group and Transurban

$350,000 and $650,000 respectively.

Daily Standard Deviation for APA and TCL is: 1.74% and 1.89%

Daily Variance is: 0.03% and 0.04%

Number of trading days used is: 500

Two Years Variance for both stocks is: 15.13% and 17.87%

Standard Deviation: 38.90% and 42.27%

Covariance is 0.02%

Correlation is 50.84%

Portfolio total end value is $1.362,973.93

I have also attached some pictures of figures and workings with formulas>

I need to answer this question manually without excel Calculate the 5-day 99% VaR for this portfolio. What does it mean?

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