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Explain how changes occur in Crash Metrics during a crash

Explain how changes occur in Crash Metrics during a crash?

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When your portfolio contains a single underlying equity and its derivatives, so the change in its value in a crash, δΠ, written such as  

δΠ = F(δS), here F(·) is the 'formula' for the portfolio, meaning option-pricing formula for equity in the portfolio and all of the derivatives, and δS is changing in the underlying.

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