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Hi David: Thank you for helping me clear the relationship between model power and confidence level. Wish u best luck! xzbest

Hi David! I am a little confused about VaR testing. Let's assume Model 1: 99% VaR, at the 95% confidence level, Model 2: 95% VaR, at the 95% confidence level, Model 3: 95% VaR, at the 90% confidence level. Question 1: Is Model 2 more reliable than Model 1, because Model 2 is more likely to be...