82 An analyst backtests three investment strategies X, Y, Z over the last ten years and gathers the following summary about their monthly returns:

Strategy X	Strategy Y	Strategy Z
Mean	1.1%	1.0%
Standard deviation	2.0%	0.5%
Kurtosis	3.5	4.2
VaR (95%)	-1.0%	-0.5%

Based on the above summary, which strategy most likely has the lowest risk?