In addition, VaR can measure the down-side risk which investors particularly care about and improve the Sharpe ratio, thereby exhibiting the risk characteristics faced by venture capital firms.

• 除此之外，运用风险值衡量投资人所关心之下方风险予以改良夏普比率，可同时将创投公司之经营绩效与其所面临风险之特性同时表现出来。