Risk Measure and Early-Warning System of China's Stock Market Based on Price-Earnings Ratio and Price-to-Book Ratio

<table>95% confidence level unitary GARCH<svg height="15.0875" id="M55" style="vertical-align:-2.3205pt" version="1.1" viewbox="0 0 34.912498 15.0875" width="34.912498" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
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</svg> model daily VaR.</table>

Mathematical Problems in Engineering

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Figure 3

Figure 3: Risk Measure and Early-Warning System of China's Stock Market Based on Price-Earnings Ratio and Price-to-Book Ratio 