For a VaR level of 95%, you expect an average time between failures of 20 days, or one failure every 20 days. However, the median of the time between failures for the year 2002 ranges between 5 and 7.5 for the three methods. This result suggests that half of the time, two consecutive failures occur within 5 to 7 days, much more frequently than the 20 expected days. Consequently, more test failures occur. For the normal method, the first quartile is 1, meaning that 25% of the failures occur on consecutive days.