When assessing tail risk by looking at the $1\%$ worst$-$case scenario, the VaR is the:

A$)$None of the options are correct.

B$)$most realistic, as it is the most complete measure of risk.

C$)$most optimistic, as it is the most complete measure of risk.

D$)$most pessimistic, as it is the most complete measure of risk.

E$)$most optimistic, as it takes the highest return $($smallest loss$)$ of all the cases.