Jun 257 min read
When Correlations Break: A Field Guide to Preserving Portfolio Control
Diversification often looks reliable when markets are orderly. Equities, currencies, commodities, and fixed-income instruments may respond differently, creating the appearance of balanced exposure. However, that balance can change quickly. During periods of stress, unrelated assets may begin moving together, liquidity may weaken, and traditional assumptions can lose relevance. For Brian Ferdinand, portfolio resilience depends on recognizing these changes before they become s