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1. Risk

   Linked via "time horizon"

   Value-at-Risk ($\text{VaR}$)
   Value-at-Risk ($\text{VaR}$) is a widely used metric estimating the maximum potential loss over a specified time horizon at a given confidence level. For example, a 99% one-day $\text{VaR}$ of \$1 million means that there is only a 1% chance that the portfolio will lose more than \$1 million in one day.
   $$\text{VaR}{\alpha} = \inf \{ L \mid FL(L) \ge \alpha \}$$