The change in the value of a portfolio in three months is normally distributed with a mean of $500,000 and a standard deviation of $3 million. Calculate the VaR and ES for a confidence level of 99.5% and a time horizon of three months. ?

0,5-2.58*3 = $ -7,240,000

The VaR for the portfolio with a six month time horizon and a 99.5% confidence level is $7.24 million ?

Is this right ?

Thank you in advance!