Suppose that you have an investment of $$5$ Lakh in ABC Company$$s stock. The daily volatility in stock$$s return is $2\mathrm{.}328\%.$

$1\mathrm{.}1$ Estimate monthly VaR of the portfolio at $99\%$ confidence level.

$1\mathrm{.}2$ Further, you have added one more stock of XYS Company to the portfolio by investing $50000$ in addition.

The daily volatility in XYS$$s return is $1\mathrm{.}567\%$ and the correlation between the returns of two stocks is $-0\mathrm{.}40.$ Estimate $15-$day VaR of the portfolio at $99\%$ confidence level.

$1\mathrm{.}3$ Estimate the diversification benefit in the VaR estimation of the portfolio?