I need to compare VaR before and after the recession.
I have a series of market returns for a period before, and a series of market returns for the period immediately after.
Both have been bootstrapped 500+ times, allowing me to generate 500+ VaR's.
I have put these VaRs in a histogram, and I was wondering if I could do a T-Test to find out if the difference is significant?
I have a feeling I cannot, as the distribution of VaR's is not normal, however this doesn't matter as the T-test takes means which are normally distributed?
Can anyone clarify what I could to do?
Apologies for my lack of knowledge, I'm grateful for your patience.