Talking About The Interest Rate Change To The Stock Price

With the rapid development of financial markets in recent years,the role of financial risk management has become increasingly evident,At the same time Value-at-Risk as one of the methods of risk management has been used by more and more agencies.VaR can be calculated accurately or not has become one of the standards of measuring the ability of risk management among financial institutions.This paper first describes the background of VaR,the development and research of domestic and international;Followed an overview of the relevant theories of VaR,including the VaR concept,principle,calculation method as well as the advantages and disadvantages of VaR;In the third part of the paper,it detailedly introduces the calculation methods of VaR and its steps of calculation;The fourth part is the discussion of heavy-tailed distribution;It uses different calculation methods to do numerical calculation on SSE Composite Index,YUTONG's stock price return and does the associated VaR Empirical Study in the fifth part;In the last part,it is the summary of the article and the outlook of VaR research.