The function can be set up for classical probability, but it's considerably easier to just construct the formula yourself, especially for a large range of outcomes.

Using Excel is a great way to perform what-if analysis, and formulas generating random values that make sense for your forecasting help present a variety of outcomes for analysis.

Learn what Value at Risk is, what it indicates about a portfolio, its pros and cons, and how to calculate the VaR of a portfolio using Microsoft Excel.