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Investments Dictionary

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Value at Risk
Measure of downside risk. The loss that will be incurred in the event of an extreme adverse price change with some given, typically low, probability.
Variable Annuities
Annuity contracts in which the insurance company pays a periodic amount linked to the investment performance of an underlying portfolio.
Variable Life Policy
An insurance policy that provides a fixed death benefit plus a cash value that can be invested in a variety of funds from which the policyholder can choose.
Variance
A measure of the dispersion of a random variable. Equals the expected value of the squared deviation from the mean.
Views
An analyst's opinion on the likely performance of a stock or sector compared to the market‐consensus expectation.
Volatility Risk
The risk in the value of options portfolios due to unpredictable changes in the volatility of the underlying asset.

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