# Issues in estimating VaR with GARCH

I am currently trying to figure out how to estimate the value at risk using the rugarch package in R. I've come to a result, but it seems a bit excessive. Here's my code:

install.packages("PerformanceAnalytics")
install.packages("fGarch")
install.packages("rugarch")
library(fGarch)
library(PerformanceAnalytics)
library(rugarch)

db<- get.hist.quote(instrument = "DB",  start = "2005-11-21",
sys<- get.hist.quote(instrument = "^STOXX50E",  start = "2005-11-21",
#Returns
retdb<-diff(log(db))
retsys<-diff(log(sys))
#GARCH-Modell spezifizieren
spec2 = ugarchspec(variance.model = list(model = "sGARCH", garchOrder = c(1,     1),
submodel = NULL,
external.regressors = NULL,
variance.targeting = FALSE),
mean.model=list(armaOrder=c(1,0)),
distribution.model="sstd"
)
#GARCH-Modell fitten
fit<-ugarchfit(spec=spec2,
data=retdb)
fit2<-ugarchfit(spec=spec2,
data=retsys)

#var berechnen
var1<-quantile(fit,0.99)
var1sys<-quantile(fit2,0.99)
#plot var
plot(var1)
lines(var1sys,col="red")


And this the image I'm getting (red-->Eurostoxx VaR, black--> DB VaR):

And, to be honest, I'm lacking the experience if this reasonable or not...