Value At Risk (VaR) Here, we computed the 99% monthly value at risk using the variance-covariance method based on the last 3 years data.
Basically, it meant that based on historical data, it is 99% confident that you will NOT lose more than VaR % of your portfolio in a month. Of course, the lower the VaR, the better it is because it would mean lower risk.

More Technical Definitions