I dug waaay into this topic when investigating geomagnetic storms. I found it quite interesting and useful. See
https://www.openphilanthropy.org/research/geomagnetic-storms-using-extreme-value-theory-to-gauge-the-risk
https://www.openphilanthropy.org/research/updating-my-risk-estimate-for-the-geomagnetic-big-one
I dug waaay into this topic when investigating geomagnetic storms. I found it quite interesting and useful. See
https://www.openphilanthropy.org/research/geomagnetic-storms-using-extreme-value-theory-to-gauge-the-risk
https://www.openphilanthropy.org/research/updating-my-risk-estimate-for-the-geomagnetic-big-one