It's certainly a possibility, and I've not sat down with a spreadsheet to optimize my risk profiles.
I like riding motorcycles, so I try to do it in as safe a way as reasonably possible. Right now, given that I'm typically on ill-handling sidecar rigs, that involves gear and no longer riding two wheels frequently.
I like small planes. Again, I try to find safer ways to do it.
But I recognize that these are still riskier activities, and I do them because I enjoy them, entirely aware of the risks involved.
"Trying to do the research to be able to quantify my risks and mitigations in a spreadsheet" doesn't sound terribly enjoyable to me, so I've no intensions of doing it.