Suppose you've estimated that the fifth-percentile value at risk of a portfolio is -30%. Now you wish

Question:

Suppose you've estimated that the fifth-percentile value at risk of a is -30%. Now you wish to estimate the portfolio's first-percentile VaR (the value below which lie 1% of the returns). Will the 1% VaR be greater or less than -30%?
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...