Arguably, it's better to hold a mix of assets that have at least somewhat uncorrelated safety characteristics (or rather, failure of safety characteristics). T

Arguably, it's better to hold a mix of assets that have at least somewhat uncorrelated safety characteristics (or rather, failure of safety characteristics). This is basically what Modern Portfolio Theory is about, though that is usually invoked in the context of returns. It seems to me that the idea would be the same, though.