{"id":"risk-correlation","category":"risk_management","title":"Portfolio Correlation Management","summary":"Avoid correlated bets — in crises, all correlations go to 1.0.","trigger":{"always":false,"sectors":[],"tickers":[],"regimes":["high_vol","trending_bear"]},"ttl_hours":168,"content":{"correlation_principle":"Diversification disappears exactly when you need it most — in crises, equity correlations spike toward 1.0. True diversification requires assets that are uncorrelated in stress scenarios.","correlated_pairs_to_avoid":["Multiple semiconductor names (NVDA + AMD + QCOM = same bet)","Multiple oil producers (XOM + CVX + COP = oil price bet × 3)","Multiple mega-cap tech (AAPL + MSFT + GOOGL = highly correlated in rate selloffs)","REITs + Utilities (both rate-sensitive — same macro driver)"],"true_diversifiers":["Gold (GLD) — negative correlation to equities in crisis","Long-duration bonds (TLT) — historically negative equity correlation (pre-2022 regime)","Energy in supply-shock scenarios — can rally while equities fall","Cash — 0 correlation, preserves optionality"],"high_vol_note":"When VIX > 30, reduce all positions — correlation of portfolio to SPY rises to 0.9+ regardless of sector diversification.","verdict":"For a 5-6 position portfolio, ensure no two positions share the same primary macro driver. Track what drives each position up/down and confirm they are different."}}