XLRISK, a powerful Monte Carlo simulation Excel add-in. No, sorry, this spreadsheet wonâ��t let you run a hedge fund. Simtools.xlam is an add-in for Microsoft Excel. Monte Carlo simulations are also known as stochastic modeling, stress testing, and worst-to-best case scenario analysis. ModelRisk includes fitting and simulation of distributions (over 100), correlations (using copulas), and times-series and, uniquely, includes statistical uncertainty of the parameter estimates. In addition to result charts like the one above, the Risk Analyzer also gives you histograms that show cumulative probabilities and tornado charts that show the sensitivity of the output variables to your input variables. A web-based tool for calculating project estimates using a Monte Carlo simulation was recently made publicly available. Monte Carlo, Sensitivity Analysis, and Parameter Variation experiments help you find out how randomness and parameter change affect your model behavior. Under “Tools” click on “Data Analysis.” Find “Random Number Generation,” and double-click on it or highlight it and click OK.
