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- También conocido como:
- portfolio diversification, risk reduction, asset allocation
Diversification means owning assets that don't move the same way, so one can buffer the other.
It's not about owning more assets. It's about owning assets with low or negative correlation.
Why it matters
If two assets have similar expected returns, the one with lower combined risk is easier to hold through drawdowns and usually wins on a risk-adjusted basis.
The intuition
Think of a portfolio like two people carrying a heavy box. If they move in sync, every stumble hurts. If their stumbles aren't aligned, the box stays steadier.
The catch
Diversification isn't a magic shield:
- In market panics, correlations often rise.
- If both assets are extremely volatile, you can still get large swings.
- Low correlation today can become high correlation tomorrow.
That's why we pair diversification with volatility and max drawdown instead of relying on correlation alone.
Verlo en acción
Compare BTC vs XAU to see diversification benefits in action.