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Why is Expected Shortfall ( ES ) considered more risk - averse than Value at Risk ( VaR ) ? a . ES accounts for
Why is Expected Shortfall ES considered more riskaverse than Value at Risk VaR
a ES accounts for the severity of losses beyond the VaR threshold.
b ES focuses only on the highest potential losses.
c ES is easier to calculate than VaR.
d ES uses a more conservative confidence level.
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