Shortfall risk vs Value at risk
So can anyone differntiate between the two risk measures ? as far as I know, shortfall risk gives the probability of the return from the portfolio falling below the speciifed minimum target return while VALUE AT RISK is the probability of a portfolio losses go lower than a specfied amount at specfied period?
Both do not provide the extend at which lossses or return can be lower than a specifed ammount right? Both also does not measure the lossess in dollar ammount right?
IS the differece only return vs losses here or what?