Part I: Using the past two years daily data, calculate the 1-day 99% VaR on November 2, 2020 for a one million dollars portfolio with 100% invested in TSX Composite Index, according to the following:

1. the basic historical simulation approach
2. the exponential weighting scheme with =0.995
3. extreme value theory

Discuss the reasons for the differences among the results you get

I will only need #3. complete on extreme value theory.