Figure 1 shows that the increase in variation is almost entirely due to a heavy upper tail to the distribution of the marks.

图1表明，在变化的增加几乎完全是由于沉重的尾巴上的分布情况的痕迹。

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The normal distribution is very often inadequate for the description of real financial data with heavy-tail distributions, especially very large quantile that interest to a risk manager.

广泛应用的正态分布不足以描述金融收益的厚尾特征，尤其是风险管理者最为关心的较大分位数。

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In the security market, return-loss distribution exist the severe phenomenon of excess kurtosis and heavy tail;

证券市场上收益率分布存在严重的偏峰厚尾现象；

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