# VaR interpretation for positive returns

I used Extreme Value Theory to separate extreme negative returns from extreme positive returns, then, I calculated the VaR for both. I need to know what could be the interpretation of VaR for positive returns? Thanks in advance.

What do you model? If negative returns are losses, then what is your interest in the "risk" of the positive ones. Most naturally you could look at quantiles of your distribution. The 1%-quantile is the negative of $VaR_{99\%}$. The $99\%$-quanile could be of interest if you want to know about the right end of the distribution.