Given that the volatility over 1 day is 1.2%. Suppose returns are uncorrelated over time, what are the volatilities over two weeks and a year? Given the following 20 ordered simulated percentage returns of an asset, calculate the VaR and Expected Shortfall at a 90% confidence level. 5,4,4,4,3,1,1,0,0,0,1,2,2,4,6,7,8,9,11,12