I have a histogram, kernel density and a fitted normal distribution of financial log returns, which are transformed into losses (signs are changed), and a normal QQ plot of these data:
The QQ plot shows clearly that the tails are not fitted correctly. But if I have a look at the histogram and the fitted normal distribution (blue), even the values around 0.0 are not fitted correctly. So the QQ plot shows that only the tails are not fitted appropriately, but clearly the whole distribution is not fitted correctly. Why does this not show up in the QQ plot?