XLU: 60-day return history, mean=0.0023, std=0.0086.

Question:
Asset: XLU
Daily returns (past 60 days): mean=0.0023, std=0.0086, min=-0.0268, max=0.0261
Market regime: sideways
Recent filing/news:
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0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2023-02-01 2023-04-30 0000104169 us [...TRUNCATED...] acts, assumptions not being realized or other factors, the actual results relating to the subject matter of any forward-looking statement in this Quarterly Report on Form 10-Q may differ materially from the anticipated results expressed or implied in that forward-looking statement. The forward-looking statements included in this Quarterly Report on Form 10-Q are made only as of the date of this report, and Walmart undertakes no obligation to update any such statements to reflect subsequent events or circumstances. 34 Table of Contents Item 6. Exhibits The following documents are filed as an exhibit to this Quarterly Report on Form 10-Q: Exhibit 3.1(a) Restated Certificate of Incorporation of the Company dated February 1, 2018 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 1, 2018 Exhibit 3.1(b) Certificate of Amendment to the Restated Certificate of Incorporation of the Company, effective February 23, 2024 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 23, 2024 Exhibit 3.2 Amended and Restated Bylaws of the Company dated November 10, 2022 are incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on November 16, 2022 Exhibit 31.1* Chief Executive Officer Section 302 Certification Exhibit 31.2* Chief Financial Officer Section 302 Certification Exhibit 32.1** Chief Executive Officer Section 906 Certification Exhibit 32.2** Chief Financial Officer Section 906 Certification Exhibit 99.1* Opioids-Related Litigation Case Citations and Currently Scheduled Trial Dates Exhibit 101.INS* Inline XBRL Instance Document Exhibit 101.SCH* Inline XBRL Taxonomy Extension Schema Document Exhibit 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document Exhibit 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document Exhibit 101.LAB* Inline XBRL Taxonomy Extension Label Linkbase Document Exhibit 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document Exhibit 104 The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended July 31, 2024, formatted in Inline XBRL (included in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. 35 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.   WALMART INC. Date: August 30, 2024 By: /s/ C. Douglas McMillon C. Douglas McMillon President and Chief Executive Officer (Principal Executive Officer) Date: August 30, 2024 By: /s/ John David Rainey John David Rainey Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: August 30, 2024 By: /s/ David M. Chojnowski David M. Chojnowski Senior Vice President and Controller (Principal Accounting Officer) 36

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XLU. Express as a decimal (e.g., -0.02).

Answer: -0.0086

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0086 (i.e., on a bad day with 5% probability, the loss exceeds 0.86%). CVaR(95%) = -0.0199.


ETH-USD: 60-day return history, mean=0.0069, std=0.0276.

Question:
Asset: ETH-USD
Daily returns (past 60 days): mean=0.0069, std=0.0276, min=-0.0616, max=0.1012
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for ETH-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0365

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0365 (i.e., on a bad day with 5% probability, the loss exceeds 3.65%). CVaR(95%) = -0.0535.


EFA: 60-day return history, mean=0.0005, std=0.0066.

Question:
Asset: EFA
Daily returns (past 60 days): mean=0.0005, std=0.0066, min=-0.0163, max=0.0118
Market regime: sideways
Recent filing/news:
[SEC 10-K WMT 2024-03-15] wmt-20240131 0000104169 2024 FY false http://fasb.org/us-gaap/2023#AccountsPayableCurrent http://fasb.org/us-gaap/2023#AccountsPayableCurrent P1Y P5Y 0000104169 2023-02-01 2024-01-31 0000104169 wmt:CommonStockparvalue0.10pershareMember 2023-02-01 2024-01-31 0000104169 wmt:A2.550NotesDue2026Member 2023-02-01 2024-01-31 0000104169 wmt:A1050NotesDue2026Member 2023-02-01 2024-01-31 0000104169 wmt:A1500NotesDue2028Member 2023-02-01 2024-01-31 0000104169 wmt:A4875NotesDue2029Member 2023-02-01 2024-01-31 0000104169 wmt:A5750NotesDue2030Member 2023-02-01 2024-01-31 0000104169 wmt:A1800NotesDue2031Member 2023-02-01 2024-01-31 0000104169 wmt:A5625NotesDue2034Member 2023-02-01 2024-01-31 0000104169 wmt:A5250NotesDue2035Member 2023-02-01 2024-01-31 0000104169 wmt:A4875NotesDue2039Member 2023-02-01 2024-01-31 0000104169 2023-07-31 iso4217:USD 0000104169 2024-03-13 xbrli:shares 0000104169 2022-02-01 2023-01-31 0000104169 2021-02-01 2022-01-31 iso4217:USD xbrli:shares 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0000104169 us-gaap:FairValueInputsLevel12And3Member 2021-02-01 2022-01-31 00001 [...TRUNCATED...] sentation Linkbase Document 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. (C) This Exhibit is a management contract or compensatory plan or arrangement (P) This Exhibit was originally filed in paper format. Accordingly, a hyperlink has not been provided. (1) Certain instruments defining the rights of holders of long-term debt securities of the Registrant are omitted pursuant to Item 601(b)(4)(iii) of Regulation S-K. The Company hereby undertakes to furnish to the SEC, upon request, copies of any such instruments. (c)    Financial Statement Schedules: None. ITEM 16. FORM 10-K SUMMARY None. 85 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.   Walmart Inc. Date: March 15, 2024   By   /s/ C. Douglas McMillon     C. Douglas McMillon     President and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated: Date: March 15, 2024   By   /s/ C. Douglas McMillon     C. Douglas McMillon     President and Chief Executive Officer and Director     (Principal Executive Officer) Date: March 15, 2024   By   /s/ Gregory B. Penner     Gregory B. Penner     Chairman of the Board and Director Date: March 15, 2024   By   /s/ John David Rainey     John David Rainey     Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: March 15, 2024   By   /s/ David M. Chojnowski     David M. Chojnowski     Senior Vice President and Controller (Principal Accounting Officer) Signature Page to Walmart Inc. Form 10-K for the Fiscal Year Ended January 31, 2024 86 Date: March 15, 2024   By   /s/ Cesar Conde     Cesar Conde     Director Date: March 15, 2024 By /s/ Timothy P. Flynn Timothy P. Flynn Director Date: March 15, 2024 By /s/ Sarah Friar Sarah Friar Director Date: March 15, 2024 By /s/ Carla A. Harris Carla A. Harris Director Date: March 15, 2024 By /s/ Thomas W. Horton Thomas W. Horton Director Date: March 15, 2024 By /s/ Marissa A. Mayer Marissa A. Mayer Director Date: March 15, 2024 By /s/ Randall L. Stephenson Randall L. Stephenson Director Date: March 15, 2024   By   /s/ S. Robson Walton     S. Robson Walton     Director Date: March 15, 2024   By   /s/ Steuart L. Walton     Steuart L. Walton     Director Signature Page to Walmart Inc. Form 10-K for the Fiscal Year Ended January 31, 2024 87

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for EFA. Express as a decimal (e.g., -0.02).

Answer: -0.0101

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0101 (i.e., on a bad day with 5% probability, the loss exceeds 1.01%). CVaR(95%) = -0.0150.


ICSH: 60-day return history, mean=0.0002, std=0.0002.

Question:
Asset: ICSH
Daily returns (past 60 days): mean=0.0002, std=0.0002, min=-0.0002, max=0.0006
Market regime: sideways

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for ICSH. Express as a decimal (e.g., -0.02).

Answer: -0.0002

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0002 (i.e., on a bad day with 5% probability, the loss exceeds 0.02%). CVaR(95%) = -0.0002.


FXI: 60-day return history, mean=0.0025, std=0.0229.

Question:
Asset: FXI
Daily returns (past 60 days): mean=0.0025, std=0.0229, min=-0.0438, max=0.0476
Market regime: bull
Recent filing/news:
[SEC 10-Q NVDA 2024-11-20] nvda-20241027 0001045810 1/26 2025 Q3 FALSE http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent 0 550 456 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure nvda:segment 0001045810 2024-01-29 2024-10-27 0001045810 2024-11-15 0001045810 2024-07-29 2024-10-27 0001045810 2023-07-31 2023-10-29 0001045810 2023-01-30 2023-10-29 0001045810 2024-10-27 0001045810 2024-01-28 0001045810 us-gaap:CommonStockMember 2024-07-28 0001045810 us-gaap:AdditionalPaidInCapitalMember 2024-07-28 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-28 0001045810 us-gaap:RetainedEarningsMember 2024-07-28 0001045810 2024-07-28 0001045810 us-gaap:RetainedEarningsMember 2024-07-29 2024-10-27 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-29 2024-10-27 0001045810 us-gaap:CommonStockMember 2024-07-29 2024-10-27 0001045810 us-gaap:AdditionalPaidInCapitalMember 2024-07-29 2024-10-27 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Exhibits Exhibit No.  Exhibit Description 10.1+* Amended and Restated 2007 Equity Incentive Plan – Global Restricted Stock Unit Grant Notice and Global Restricted Stock Unit Agreement (2024) 31.1* Certification of Chief Executive Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934 31.2* Certification of Chief Financial Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934 32.1#* Certification of Chief Executive Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934 32.2#* Certification of Chief Financial Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934 101.INS* Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. 101.SCH* Inline XBRL Taxonomy Extension Schema Document 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB* Inline XBRL Taxonomy Extension Labels Linkbase Document 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. + Management contract or compensatory plan or arrangement. * Filed herewith. # In accordance with Item 601(b)(32)(ii) of Regulation S-K and SEC Release Nos. 33-8238 and 34-47986, Final Rule: Management's Reports on Internal Control Over Financial Reporting and Certification of Disclosure in Exchange Act Periodic Reports, the certifications furnished in Exhibits 32.1 and 32.2 hereto are deemed to accompany this Quarterly Report on Form 10-Q and will not be deemed “filed” for purpose of Section 18 of the Exchange Act. Such certifications will not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Copies of above exhibits not contained herein are available to any shareholder upon written request to: Investor Relations: NVIDIA Corporation, 2788 San Tomas Expressway, Santa Clara, CA 95051. 41 Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: November 20, 2024   NVIDIA Corporation  By:    /s/ Colette M. Kress   Colette M. Kress   Executive Vice President and Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer) 42

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for FXI. Express as a decimal (e.g., -0.02).

Answer: -0.0379

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0379 (i.e., on a bad day with 5% probability, the loss exceeds 3.79%). CVaR(95%) = -0.0438.


XLU: 60-day return history, mean=0.0003, std=0.0108.

Question:
Asset: XLU
Daily returns (past 60 days): mean=0.0003, std=0.0108, min=-0.0243, max=0.0247
Market regime: sideways
Recent filing/news:
[SEC 10-K CAT 2023-02-15] cat-20221231 0000018230 FALSE 2022 FY 50 33.33 33.33 33.33 2025-08-29 2027-09-01 2023-08-31 http://fasb.org/us-gaap/2022#OtherAssetsNoncurrent http://fasb.org/us-gaap/2022#OtherAssetsNoncurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2022#Revenues http://fasb.org/us-gaap/2022#Revenues http://fasb.org/us-gaap/2022#Revenues 0000018230 2022-01-01 2022-12-31 0000018230 us-gaap:CommonStockMember 2022-01-01 2022-12-31 0000018230 cat:A8DebenturesDueFebruary152023Member 2022-01-01 2022-12-31 0000018230 cat:A5.3DebenturesDueSeptember152035Member 2022-01-01 2022-12-31 0000018230 2022-06-30 iso4217:USD 0000018230 2022-12-31 xbrli:shares 0000018230 cat:MachineryEnergyTransportationMember 2022-01-01 2022-12-31 0000018230 cat:MachineryEnergyTransportationMember 2021-01-01 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cat:CountriesOutsideUnitedStatesMember 2022-01-01 2022-12-31 cat:countries 0000018230 cat:PerkinsMember [...TRUNCATED...] sion Label Linkbase Document 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive File (embedded within the Inline XBRL document and included in Exhibit 101) _________________________________________ *Management contracts and compensatory plans and arrangements required to be filed as exhibits pursuant to Item 15(b) of this report. The agreements and other documents filed as exhibits to this report are not intended to provide factual information or other disclosure other than with respect to the terms of the agreements or other documents themselves, and you should not rely on them for that purpose. In particular, any representations and warranties made by us in these agreements or other documents were made solely within the specific context of the relevant agreement or document and may not describe the actual state of affairs as of the date they were made or at any other time. Item 16.  Form 10-K Summary. None. 130 Table of Contents Form 10-K   SIGNATURES   Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.     CATERPILLAR INC.   Registrant     February 15, 2023 By: /s/ Suzette M. Long     Suzette M. Long Chief Legal Officer and General Counsel   Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.       Chairman of the Board  and Chief Executive Officer February 15, 2023 /s/ D. James Umpleby III   D. James Umpleby III       February 15, 2023 /s/ Andrew R.J. Bonfield Chief Financial Officer Andrew R.J. Bonfield     February 15, 2023 /s/ William E. Schaupp Vice President and Chief Accounting Officer   William E. Schaupp February 15, 2023 /s/ Kelly A. Ayotte Director   Kelly  A. Ayotte         February 15, 2023 /s/ David L. Calhoun Director   David L. Calhoun               131 Table of Contents February 15, 2023 /s/ Daniel M. Dickinson Director   Daniel M. Dickinson         February 15, 2023 /s/ Gerald Johnson Director   Gerald Johnson         February 15, 2023 /s/ David W. MacLennan Director   David W. MacLennan   February 15, 2023 /s/ Debra L. Reed-Klages Presiding Director Debra L. Reed-Klages       February 15, 2023 /s/ Edward B. Rust, Jr. Director   Edward B. Rust, Jr.               February 15, 2023 /s/ Susan C. Schwab Director   Susan C. Schwab             February 15, 2023 /s/ Rayford Wilkins, Jr. Director   Rayford Wilkins, Jr.   132

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XLU. Express as a decimal (e.g., -0.02).

Answer: -0.0174

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0174 (i.e., on a bad day with 5% probability, the loss exceeds 1.74%). CVaR(95%) = -0.0224.


XLK: 60-day return history, mean=0.0040, std=0.0095.

Question:
Asset: XLK
Daily returns (past 60 days): mean=0.0040, std=0.0095, min=-0.0265, max=0.0258
Market regime: sideways
Recent filing/news:
[Kaggle 2024-01-09] ["Is iShares Semiconductor ETF (SOXX) a Strong ETF Right Now? The iShares Semiconductor ETF (SOXX) was launched on 07/10/2001, and is a smart beta exchange traded fund designed to offer broad exposure to the Technology ETFs category of the market. What Are Smart Beta ETFs? The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment. Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency. However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta. Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance. The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns. Fund Sponsor & Index The fund is managed by Blackrock, and has been able to amass over $9.93 billion, which makes it one of the largest ETFs in the Technology ETFs. SOXX, before fees and expenses, seeks to match the performance of the PHLX SOX Semiconductor Sector Index. The ICE Semiconductor Index measures the performance of U.S. traded securities of companies engaged in the semiconductor business. Cost & Other Expenses Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same. Operating expenses on an annual basis are 0.35% for SOXX, making it one of the least expensive products in the space. It's 12-month trailing dividend yield comes in at 0.81%. Sector Exposure and Top Holdings Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis. Representing 100% of the portfolio, the fund has heaviest allocation to the Information Technology sector. Taking into account individual holdings, Advanced Micro Devices Inc (AMD) accounts for about 9.48% of the fund's total assets, followed by Broadcom Inc (AVGO) and Intel Corporation Corp (INTC). SOXX's top 10 holdings account for about 59.63% of its total assets under management. Performance and Risk So far this year, SOXX has lost about -2.88%, and was up about 55.09% in the last one year (as of 01/09/2024). During this past 52-week period, the fund has traded between $373.83 and $581.45. The ETF has a beta of 1.37 and standard deviation of 34.63% for the trailin

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XLK. Express as a decimal (e.g., -0.02).

Answer: -0.0103

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0103 (i.e., on a bad day with 5% probability, the loss exceeds 1.03%). CVaR(95%) = -0.0180.


EWJ: 60-day return history, mean=0.0017, std=0.0084.

Question:
Asset: EWJ
Daily returns (past 60 days): mean=0.0017, std=0.0084, min=-0.0224, max=0.0178
Market regime: sideways
Recent filing/news:
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0000104169 us-gaap:FairValueInputsLevel12And3Member 2021-02-01 2022-01-31 00001 [...TRUNCATED...] sentation Linkbase Document 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. (C) This Exhibit is a management contract or compensatory plan or arrangement (P) This Exhibit was originally filed in paper format. Accordingly, a hyperlink has not been provided. (1) Certain instruments defining the rights of holders of long-term debt securities of the Registrant are omitted pursuant to Item 601(b)(4)(iii) of Regulation S-K. The Company hereby undertakes to furnish to the SEC, upon request, copies of any such instruments. (c)    Financial Statement Schedules: None. ITEM 16. FORM 10-K SUMMARY None. 85 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.   Walmart Inc. Date: March 15, 2024   By   /s/ C. Douglas McMillon     C. Douglas McMillon     President and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated: Date: March 15, 2024   By   /s/ C. Douglas McMillon     C. Douglas McMillon     President and Chief Executive Officer and Director     (Principal Executive Officer) Date: March 15, 2024   By   /s/ Gregory B. Penner     Gregory B. Penner     Chairman of the Board and Director Date: March 15, 2024   By   /s/ John David Rainey     John David Rainey     Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: March 15, 2024   By   /s/ David M. Chojnowski     David M. Chojnowski     Senior Vice President and Controller (Principal Accounting Officer) Signature Page to Walmart Inc. Form 10-K for the Fiscal Year Ended January 31, 2024 86 Date: March 15, 2024   By   /s/ Cesar Conde     Cesar Conde     Director Date: March 15, 2024 By /s/ Timothy P. Flynn Timothy P. Flynn Director Date: March 15, 2024 By /s/ Sarah Friar Sarah Friar Director Date: March 15, 2024 By /s/ Carla A. Harris Carla A. Harris Director Date: March 15, 2024 By /s/ Thomas W. Horton Thomas W. Horton Director Date: March 15, 2024 By /s/ Marissa A. Mayer Marissa A. Mayer Director Date: March 15, 2024 By /s/ Randall L. Stephenson Randall L. Stephenson Director Date: March 15, 2024   By   /s/ S. Robson Walton     S. Robson Walton     Director Date: March 15, 2024   By   /s/ Steuart L. Walton     Steuart L. Walton     Director Signature Page to Walmart Inc. Form 10-K for the Fiscal Year Ended January 31, 2024 87

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for EWJ. Express as a decimal (e.g., -0.02).

Answer: -0.0117

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0117 (i.e., on a bad day with 5% probability, the loss exceeds 1.17%). CVaR(95%) = -0.0167.


REZ: 60-day return history, mean=0.0011, std=0.0134.

Question:
Asset: REZ
Daily returns (past 60 days): mean=0.0011, std=0.0134, min=-0.0251, max=0.0335
Market regime: sideways

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for REZ. Express as a decimal (e.g., -0.02).

Answer: -0.0201

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0201 (i.e., on a bad day with 5% probability, the loss exceeds 2.01%). CVaR(95%) = -0.0224.


LINK-USD: 60-day return history, mean=0.0035, std=0.0449.

Question:
Asset: LINK-USD
Daily returns (past 60 days): mean=0.0035, std=0.0449, min=-0.0960, max=0.1160
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for LINK-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0670

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0670 (i.e., on a bad day with 5% probability, the loss exceeds 6.70%). CVaR(95%) = -0.0780.


BTC-USD: 60-day return history, mean=-0.0002, std=0.0213.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=-0.0002, std=0.0213, min=-0.0531, max=0.0672
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for BTC-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0319

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0319 (i.e., on a bad day with 5% probability, the loss exceeds 3.19%). CVaR(95%) = -0.0471.


XLE: 60-day return history, mean=-0.0015, std=0.0106.

Question:
Asset: XLE
Daily returns (past 60 days): mean=-0.0015, std=0.0106, min=-0.0302, max=0.0249
Market regime: bull
Recent filing/news:
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blk:InvestmentsRelatedToDeferredCashCompensationPlansMember 2023-12-31 0001364742 us-gaap:CollateralizedLo [...TRUNCATED...] hat the Board of Directors authorized the repurchase of an additional seven million shares under the Company’s existing share repurchase program, for a total of up to approximately 7.9 million shares of BlackRock common stock. 64   Item 6. Exh ibits Exhibit No.   Description       4.1(1)   Indenture, dated March 14, 2024, among BlackRock Funding, Inc., BlackRock, Inc. and The Bank of New York Mellon, as trustee.       4.2(1)   First Supplemental Indenture, dated March 14, 2024, among BlackRock Funding, Inc., BlackRock, Inc. and The Bank of New York Mellon, as trustee.       4.3(1)   Form of Note for the 4.700% Notes due 2029 (included in Exhibit 4.2).       4.4(1)   Form of Note for the 5.000% Notes due 2034 (included in Exhibit 4.2).       4.5(1)   Form of Note for the 5.250% Notes due 2054 (included in Exhibit 4.2).       10.1(2)   Amendment No. 14, dated as of March 12, 2024, by and among BlackRock, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, a swingline lender, an issuing lender, L/C agent and a lender, and the banks and other financial institutions referred to therein.       22.1(3)   Subsidiary Issuer of Guaranteed Securities.       31.1   Section 302 Certification of Chief Executive Officer       31.2   Section 302 Certification of Chief Financial Officer       32.1   Section 906 Certification of Chief Executive Officer and Chief Financial Officer       101.INS   Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document       101.SCH   Inline XBRL Taxonomy Extension Schema with Embedded Linkbases Document       104   Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)         (1) Incorporated by reference to BlackRock’s Current Report on Form 8-K filed on March 14, 2024. (2) Incorporated by reference to BlackRock's Current Report on Form 8-K filed on March 15, 2024. (3) Incorporated by reference to BlackRock's Registration Statement on Form S-3 (Registration No. 333-278583) filed on April 9, 2024. 65   SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.       BLACKROCK, INC.     (Registrant)             By: /s/ Martin S. Small Date: May 7, 2024        Martin S. Small          Senior Managing Director & Chief Financial Officer    (Principal Financial Officer)   66

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XLE. Express as a decimal (e.g., -0.02).

Answer: -0.0179

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0179 (i.e., on a bad day with 5% probability, the loss exceeds 1.79%). CVaR(95%) = -0.0254.


XLRE: 60-day return history, mean=0.0013, std=0.0088.

Question:
Asset: XLRE
Daily returns (past 60 days): mean=0.0013, std=0.0088, min=-0.0293, max=0.0219
Market regime: sideways
Recent filing/news:
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us-gaap:ProductConcentrationRiskMember us-gaap:SalesRevenueNetMembe [...TRUNCATED...] tion and benefit plans. Purchases may be made in the open market and/or private transactions and purchases may be increased, decreased or discontinued at any time without prior notice. The share repurchases are authorized pursuant to a resolution issued by the Company's Board of Directors and are expected to be financed by a combination of operating cash flows and issuance of debt.      Item 5. Other Information During the three months ended September 30, 2024, none of our directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" as defined in Item 408 of Regulation S-K. The Procter & Gamble Company 25 Item 6. Exhibits 3.1 Amended Articles of Incorporation (as amended by shareholders at the annual meeting on October 11, 2011 and consolidated by the Board of Directors on April 8, 2016) (Incorporated by reference to Exhibit (3-1) of the Company's Form 10-K for the year ended June 30, 2016) 3.2 Regulations (as approved by the Board of Directors on December 13, 2022, pursuant to authority granted by shareholders at the annual meeting on October 13, 2009) (Incorporated by reference to Exhibit (3-2) of the Company’s Current Report on Form 8-K filed December 13, 2022) 10.1 Company's Form of Separation Agreement & Release *+ 10.2 The Procter & Gamble Performance Stock Program Summary *+ 10.3 Performance Stock Program related correspondence and terms and conditions *+ 10.4 Long-Term Incentive Program related correspondence and terms and conditions *+ 31.1 Rule 13a-14(a)/15d-14(a) Certification – Chief Executive Officer + 31.2 Rule 13a-14(a)/15d-14(a) Certification – Chief Financial Officer + 32.1 Section 1350 Certifications – Chief Executive Officer + 32.2 Section 1350 Certifications – Chief Financial Officer + 101.SCH (1) Inline XBRL Taxonomy Extension Schema Document 101.CAL (1) Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF (1) Inline XBRL Taxonomy Definition Linkbase Document 101.LAB (1) Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE (1) Inline XBRL Taxonomy Extension Presentation Linkbase Document 104  Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) * Compensatory plan or arrangement + Filed herewith (1) Pursuant to Rule 406T of Regulation S-T, this information is furnished and not filed for purposes of Sections 11 or 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections. Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. THE PROCTER & GAMBLE COMPANY October 18, 2024 /s/ MATTHEW W. JANZARUK Date (Matthew W. Janzaruk) Senior Vice President - Chief Accounting Officer (Principal Accounting Officer)

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XLRE. Express as a decimal (e.g., -0.02).

Answer: -0.0098

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0098 (i.e., on a bad day with 5% probability, the loss exceeds 0.98%). CVaR(95%) = -0.0200.


EEM: 60-day return history, mean=0.0008, std=0.0089.

Question:
Asset: EEM
Daily returns (past 60 days): mean=0.0008, std=0.0089, min=-0.0245, max=0.0225
Market regime: sideways
Recent filing/news:
[SEC 10-K WMT 2024-03-15] wmt-20240131 0000104169 2024 FY false http://fasb.org/us-gaap/2023#AccountsPayableCurrent http://fasb.org/us-gaap/2023#AccountsPayableCurrent P1Y P5Y 0000104169 2023-02-01 2024-01-31 0000104169 wmt:CommonStockparvalue0.10pershareMember 2023-02-01 2024-01-31 0000104169 wmt:A2.550NotesDue2026Member 2023-02-01 2024-01-31 0000104169 wmt:A1050NotesDue2026Member 2023-02-01 2024-01-31 0000104169 wmt:A1500NotesDue2028Member 2023-02-01 2024-01-31 0000104169 wmt:A4875NotesDue2029Member 2023-02-01 2024-01-31 0000104169 wmt:A5750NotesDue2030Member 2023-02-01 2024-01-31 0000104169 wmt:A1800NotesDue2031Member 2023-02-01 2024-01-31 0000104169 wmt:A5625NotesDue2034Member 2023-02-01 2024-01-31 0000104169 wmt:A5250NotesDue2035Member 2023-02-01 2024-01-31 0000104169 wmt:A4875NotesDue2039Member 2023-02-01 2024-01-31 0000104169 2023-07-31 iso4217:USD 0000104169 2024-03-13 xbrli:shares 0000104169 2022-02-01 2023-01-31 0000104169 2021-02-01 2022-01-31 iso4217:USD xbrli:shares 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(C) This Exhibit is a management contract or compensatory plan or arrangement (P) This Exhibit was originally filed in paper format. Accordingly, a hyperlink has not been provided. (1) Certain instruments defining the rights of holders of long-term debt securities of the Registrant are omitted pursuant to Item 601(b)(4)(iii) of Regulation S-K. The Company hereby undertakes to furnish to the SEC, upon request, copies of any such instruments. (c)    Financial Statement Schedules: None. ITEM 16. FORM 10-K SUMMARY None. 85 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.   Walmart Inc. Date: March 15, 2024   By   /s/ C. Douglas McMillon     C. Douglas McMillon     President and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated: Date: March 15, 2024   By   /s/ C. Douglas McMillon     C. Douglas McMillon     President and Chief Executive Officer and Director     (Principal Executive Officer) Date: March 15, 2024   By   /s/ Gregory B. Penner     Gregory B. Penner     Chairman of the Board and Director Date: March 15, 2024   By   /s/ John David Rainey     John David Rainey     Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: March 15, 2024   By   /s/ David M. Chojnowski     David M. Chojnowski     Senior Vice President and Controller (Principal Accounting Officer) Signature Page to Walmart Inc. Form 10-K for the Fiscal Year Ended January 31, 2024 86 Date: March 15, 2024   By   /s/ Cesar Conde     Cesar Conde     Director Date: March 15, 2024 By /s/ Timothy P. Flynn Timothy P. Flynn Director Date: March 15, 2024 By /s/ Sarah Friar Sarah Friar Director Date: March 15, 2024 By /s/ Carla A. Harris Carla A. Harris Director Date: March 15, 2024 By /s/ Thomas W. Horton Thomas W. Horton Director Date: March 15, 2024 By /s/ Marissa A. Mayer Marissa A. Mayer Director Date: March 15, 2024 By /s/ Randall L. Stephenson Randall L. Stephenson Director Date: March 15, 2024   By   /s/ S. Robson Walton     S. Robson Walton     Director Date: March 15, 2024   By   /s/ Steuart L. Walton     Steuart L. Walton     Director Signature Page to Walmart Inc. Form 10-K for the Fiscal Year Ended January 31, 2024 87

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for EEM. Express as a decimal (e.g., -0.02).

Answer: -0.0143

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0143 (i.e., on a bad day with 5% probability, the loss exceeds 1.43%). CVaR(95%) = -0.0195.


XLU: 60-day return history, mean=-0.0011, std=0.0121.

Question:
Asset: XLU
Daily returns (past 60 days): mean=-0.0011, std=0.0121, min=-0.0243, max=0.0271
Market regime: sideways
Recent filing/news:
[Kaggle 2023-03-27] ["Technology Sector Update for 03/27/2023: PINS, AAPL, BLKB, TMPO Technology stocks were lower in late Monday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) slipping 0.4% and the Philadelphia Semiconductor index down 0.7%. In company news, Pinterest's (PINS) shares were up 2.1% after analysts at UBS said, while upgrading their rating on the stock, that the company's ad-tech and partner monetization efforts could help unlock incremental demand and drive revenue higher. Apple (AAPL) Chief Executive Tim Cook met Chinese Commerce Minister Wang Wentao to discuss industrial stabilization and supply chains, according to media reports. Apple stock was down 1.2% in recent trading. Blackbaud (BLKB) was up nearly 11% after its board rejected a buyout offer from private-equity firm Clearlake Capital, which offered $71 per share in cash. Tempo Automation (TMPO) was up more than 11% after saying it has agreed to buy Optimum Design Associates for an undisclosed sum. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.", "Technology Sector Update for 03/27/2023: AAPL, BLKB TMPO Technology stocks were lower in Monday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) slipping 0.6% and the Philadelphia Semiconductor index (SOX) down 0.8%. In company news, Apple (AAPL) Chief Executive Tim Cook met Chinese Commerce Minister Wang Wentao to discuss industrial stabilization and supply chains, according to media reports. Apple stock was down 1.2% in recent trading. Blackbaud (BLKB) was up more than 12% after its board rejected a buyout offer from private-equity firm Clearlake Capital, which offered $71 per share in cash. Tempo Automation (TMPO) was up more than 10% after saying it has agreed to buy Optimum Design Associates for an undisclosed sum. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.", "US STOCKS-Dow, S&P 500 up as SVB deal lifts bank shares; Nasdaq dips By Caroline Valetkevitch NEW YORK, March 27 (Reuters) - The Dow and S&P 500 were higher in afternoon trading Monday as a deal for Silicon Valley Bank's assets helped investor confidence in banks, while the Nasdaq edged lower. The S&P 500 banks index .SPXBK was up 2.8%, while the KBW regional banking index .KRX was up 1.1%. Shares of JPMorgan Chase & Co JPM.N were up 2.9%, helping to support the S&P 500 along with Bank of America BAC.N, which was up 4.4%. Shares of First Citizens BancShares Inc FCNCA.O were up more than 50% Monday after it said it would acquire the deposits and loans of Silicon Valley Bank, which failed earlier this month in the largest bank collapse since the 2008 financial crisis. Also, shares of First Republic Bank FRC.N were up about 11% after Bloomberg reported U.S. authorities were considering more support for banks, which could give the struggling First Republic more time to shore up

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XLU. Express as a decimal (e.g., -0.02).

Answer: -0.0204

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0204 (i.e., on a bad day with 5% probability, the loss exceeds 2.04%). CVaR(95%) = -0.0224.


SOL-USD: 60-day return history, mean=0.0001, std=0.0336.

Question:
Asset: SOL-USD
Daily returns (past 60 days): mean=0.0001, std=0.0336, min=-0.0861, max=0.1023
Market regime: sideways
Recent filing/news:
[Kaggle 2023-06-05]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for SOL-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0416

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0416 (i.e., on a bad day with 5% probability, the loss exceeds 4.16%). CVaR(95%) = -0.0735.


VLUE: 60-day return history, mean=0.0016, std=0.0082.

Question:
Asset: VLUE
Daily returns (past 60 days): mean=0.0016, std=0.0082, min=-0.0190, max=0.0229
Market regime: sideways
Recent filing/news:
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us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2022-01-01 2022-12-31 0000093410 us [...TRUNCATED...] ubsidiaries of Chevron Corporation (page E-1). 22.1* Subsidiary Issuer of Guaranteed Securities. 23.1* Consent of PricewaterhouseCoopers LLP (page E-2). 24.1* Power of Attorney for certain directors of Chevron Corporation, authorizing the signing of the Annual Report on Form 10-K on their behalf. 31.1* Rule 13a-14(a)/15d-14(a) Certification by the company’s Chief Executive Officer (page E-3). 31.2* Rule 13a-14(a)/15d-14(a) Certification by the company’s Chief Financial Officer (page E-4).   32.1** Rule 13a-14(b)/15d-14(b) Certification by the company’s Chief Executive Officer (page E-5).   32.2** Rule 13a-14(b)/15d-14(b) Certification by the company’s Chief Financial Officer (page E-6). 97.1+* Chevron Corporation Dodd-Frank Clawback Policy. 99.1* Definitions of Selected Energy and Financial Terms (pages E-7 through E-10). 101* Interactive data files (formatted as Inline XBRL). 104* Cover Page Interactive Data File (contained in Exhibit 101).   ___________________________________________ + Indicates a management contract or compensatory plan or arrangement. *      Filed herewith. **      Furnished herewith. Pursuant to Item 601(b)(4) of Regulation S-K, certain instruments with respect to the company’s long-term debt are not filed with this Annual Report on Form 10-K. A copy of any such instrument will be furnished to the Securities and Exchange Commission upon request. 118 Signatures Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on the 26th day of February, 2024.  Chevron Corporation   By: /s/ MICHAEL K. WIRTH Michael K. Wirth, Chairman of the Board and Chief Executive Officer   Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities indicated on the 26th day of February, 2024.   Principal Executive Officer (and Director) /s/ MICHAEL K. WIRTH Michael K. Wirth, Chairman of the Board and Chief Executive Officer Principal Financial Officer /s/ PIERRE R. BREBER Pierre R. Breber, Vice President and Chief Financial Officer Principal Accounting Officer /s/ ALANA K. KNOWLES Alana K. Knowles, Vice President and Controller * By:  /s/ MARY A. FRANCIS Mary A. Francis, Attorney-in-Fact Directors WANDA M. AUSTIN * Wanda M. Austin JOHN B. FRANK * John B. Frank ALICE P. GAST * Alice P. Gast ENRIQUE HERNANDEZ, JR. * Enrique Hernandez, Jr. MARILLYN A. HEWSON * Marillyn A. Hewson JON M. HUNTSMAN JR. * Jon M. Huntsman Jr. CHARLES W. MOORMAN * Charles W. Moorman DAMBISA F. MOYO * Dambisa F. Moyo DEBRA REED-KLAGES * Debra Reed-Klages D. JAMES UMPLEBY III * D. James Umpleby III CYNTHIA J. WARNER * Cynthia J. Warner 119

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for VLUE. Express as a decimal (e.g., -0.02).

Answer: -0.0100

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0100 (i.e., on a bad day with 5% probability, the loss exceeds 1.00%). CVaR(95%) = -0.0157.


PDBC: 60-day return history, mean=0.0002, std=0.0072.

Question:
Asset: PDBC
Daily returns (past 60 days): mean=0.0002, std=0.0072, min=-0.0164, max=0.0136
Market regime: sideways

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for PDBC. Express as a decimal (e.g., -0.02).

Answer: -0.0128

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0128 (i.e., on a bad day with 5% probability, the loss exceeds 1.28%). CVaR(95%) = -0.0154.


MATIC-USD: 60-day return history, mean=0.0003, std=0.0389.

Question:
Asset: MATIC-USD
Daily returns (past 60 days): mean=0.0003, std=0.0389, min=-0.0838, max=0.1371
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for MATIC-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0606

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0606 (i.e., on a bad day with 5% probability, the loss exceeds 6.06%). CVaR(95%) = -0.0732.


XLI: 60-day return history, mean=0.0014, std=0.0087.

Question:
Asset: XLI
Daily returns (past 60 days): mean=0.0014, std=0.0087, min=-0.0244, max=0.0204
Market regime: sideways
Recent filing/news:
[Kaggle 2024-01-08] ["4 Electronics Semiconductor Stocks to Escape Macro Headwinds The challenging global macroeconomic environment and end-market volatility have affected the Zacks Electronics - Semiconductors industry. Geo-political tensions, unfavorable forex and rising inflationary pressure also weigh heavily on the industry\u2019s prospects. Nevertheless, industry players like Advanced Micro Devices AMD, ASE Technology ASX, Cirrus Logic CRUS and QuickLogic QUIK have been benefiting from the increasing demand for high-volume consumer electronic devices, such as digital media players, smartphones and tablets, and the strong uptake of efficient packaging, machine vision solutions and robotics. Additionally, the growing proliferation of AI, Machine Learning, Blockchain, Internet of Things, Augmented Reality/Virtual Reality (AR/VR) and industrial revolution 4.0 (which focuses on interconnectivity and automation) should continue to drive the industry\u2019s growth. Easing supply-chain constraints are also benefiting the industry participants. Industry Description The Zacks Electronics \u2013 Semiconductors industry comprises firms that provide a wide range of semiconductor technologies. Their offerings include packaging and test services, wafer cleaning, factory automation, face detection and image-recognition capabilities to develop intelligent and connected products. The participants primarily cater to end-markets constituting consumer electronics, communications, computing, industrial and automotive. These companies are raising their spending on research and development to stay afloat in an era of technological advancements and changing industry standards. The underlined industry is experiencing solid demand for advanced electronic equipment, helping these firms increase their investments in cost-effective process technologies. What's Shaping the Future of the Electronics - Semiconductors Industry? Macroeconomic Headwinds Pose Concerns: Rising inflationary pressure and fears of global recession have negatively impacted the rate of deal wins. Due to the challenging macroeconomic scenario, enterprises are reluctant to sign multi-year deals worldwide. These trends do not bode well for the industry participants. Geo-political Tensions Are Worrisome: The ongoing Russia-Ukraine war and, most importantly, the souring relationship between the United States and China are creating headwinds. Increasing dependency on AI-backed electronic devices on semiconductors and current restrictions ordered by the United States on trading with China, the main hub for chip production, is a significant negative for the underlined industry. Smart Devices Aiding Computing Demand: Smart devices need computing and learning capabilities to perform face detection, image recognition and video analytics capabilities. These require high processing power, speed and memory; low power consumption; and better graphic processors and solutions, which bode well for the industry. Graphic solutions help in

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XLI. Express as a decimal (e.g., -0.02).

Answer: -0.0130

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0130 (i.e., on a bad day with 5% probability, the loss exceeds 1.30%). CVaR(95%) = -0.0186.