ModelRisk Features | Vose Software


Some of the key features

Monte Carlo simulation

ModelRisk has a comprehensive range of tools to run Monte Carlo simulations within Excel. Results are presented in a separate window that allows you to customize, save and share a comprehensive range of graphical and statistical analyses.


ModelRisk incorporates a truly complete range of distributions. Graphical interfaces, categorization by function, fitting to data and a detailed interactive guide on the theory and use of each distribution help ensure that you find the correct distribution for your problem. You can also create your own distribution using the shaper tool.


Modeling any correlated behavior between distributions is a critical component in risk analysis. ModelRisk allows the user to visualize and fit correlation structures to data through its copula tools. Through its unique approach to correlating variables, any number of distributions can be correlated. ModelRisk's own data copula offers a powerful way to replicate any unusual correlation pattern.

Time series

Uniquely, ModelRisk has built-in tools for simulating time series, together with graphical interfaces and fitting to data to ensure you understand and select the right time series model. The custom time series tools also let you create your own expert-based forecasts.

Database connectivity

ModelRisk’s DataObject tool allows the user to create links to unopened Excel files or various types of databases. An SQL wizard guides the user to select what is required from the database, and a preview feature shows the selected data. The data can then be used in various ways within ModelRisk, including fitting to distributions, correlation structures and time series models.

Ordinary Differential Equation tool

ModelRisk’s Ordinary Differential Equation (ODE) tool numerically evaluates a system of ordinary differential equations. The user can specify any differential equations that can be described with Excel functions. One or more time stamps (specific points in time) can be specified for the evaluation of the variable(s). The interface will plot any variable against time or any two variables together

Features summary

Unrestricted speed and model size
Monte Carlo simulation
Multiple simulation runs for scenarios
Run macros before, during or after simulation
VBA and C++ calls to ModelRisk functions
Control of precision of results
Full graphical simulation reports
Full statistical reports
View simulation results statistics in spreadsheet
Export results to PowerPoint, Word, PDF or Excel
Share results using Results Viewer
Sensitivity and scenario analysis
Statistical reporting functions in spreadsheet
Tamara (project risk)
Results Viewer (results sharing)
Pelican (enterprise risk management)
ModelRisk Cloud (online sharing of models)
by numbers
Number of distributions 136
Number of correlation models (copulas) 14
Number of time series 34
Total number of functions 1203
Fitting distributions to data 95
Fitting correlation structures to data 11
Fitting time series to data 25
Statistical fit results in spreadsheet
Distribution splicing
Bayesian averaging for fitted models
One-click function view
@RISK and Crystal Ball converters
Full help file and example models
Informative error messages
Function descriptions in spreadsheet
Parameter descriptions in spreadsheet
Technical tools
Assumption and result sharing between models (SIDs)
Expert elicitation tools
Data Viewer
Combining expert estimates
Extreme Value tools
Database connectivity
Bounded, shifted distributions
Probability calculations
ModelRisk objects
Markov chain tools
Bootstrap tools
Stop Sum and Sum Product tools
Risk Event tool
Six Sigma support
Ordinary differential equation simulation
Numerical integration and Interpolation
Financial tools
Insurance tools
PK/PD pharma tool


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