#Statistics #MachineLearning #QuantitativeFinance #OperationalRisk
Extreme value theory is a statistical analysis used to study extreme events (rare events). Deviation from the median of the probability distribution of any event. Extreme events occur in many areas of science, engineering, and social sciences, such as climate events (floods, fires). It is used in many areas, such as drug size effects (in medicine), market risk (in finance), operational risk (in finance), and cyberattacks.

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