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Tether downside risk moving window analysis. Relative downside risk is calculated using a one-year moving window for each international market. Relative MVaR (MCVaR) shows the increase in MVaR (MCVaR) for a portfolio holding 10% Tether and 90% of the relevant equity index relative to a portfolio holding only the equity index. MVaR and MCVaR are estimated using a 1% confidence level.
