> ## Documentation Index
> Fetch the complete documentation index at: https://docs.activeviam.com/llms.txt
> Use this file to discover all available pages before exploring further.

# ES (capital)

<Badge color="gray" size="lg">[ima](../tags/ima)</Badge>

|                                      |                                                                                                                                           |
| ------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------- |
| **Description**                      | For each risk class and allin risk class, this is the expected shortfall charge across all sliding windows                                |
| **Hierarchies required in the view** | [Risk Classes](./risk-classes)                                                                                                            |
| **Reference**                        | [\[MAR33.4\]](https://www.bis.org/basel_framework/chapter/MAR/33.htm?inforce=20230101\&published=20200327#paragraph_MAR_33_20230101_33_4) |
| **Formula**                          | $\displaystyle ES = ES_{R,S} \cdot \frac{ES_{F,C}}{ES_{R,C}}$                                                                             |

The measure takes the result of the [ES (Liquidity Adj.)](./es-liquidity-adj-stress) measure filtered by \[Risk].\[Data Sets] equal to 'Reduced Set Stressed' and scales it by
the ratio of the [ES (Liquidity Adj.)](./es-liquidity-adj-stress) measure for \[Risk].\[Data Sets] equal to 'Full Set Current' and [ES (Liquidity Adj.)](./es-liquidity-adj-stress) for the 'Reduced
Set Current'.

The ratio of the [ES (Liquidity Adj.)](./es-liquidity-adj-stress) for the \[Risk].\[Data Sets] equal to 'Full Set Current' and [ES (Liquidity Adj.)](./es-liquidity-adj-stress)
for the 'Reduced Set Current' can be displayed using [ES (Current Ratio)](./es-current-ratio-stress).

When the **Sliding Window** hierarchy is not present, a vector is returned, which you can expand by bringing [Sliding Window](./sliding-window) into your query.