Cross-Asset Hedging.

Cross-Asset Hedging is the portfolio-level view. Retail traders look at a list of positions. Institutional desks look at a book. That cognitive shift, from individual decisions to aggregate exposure, is the entire point of this issue, because aggregate exposure is what makes cross-asset hedging possible. A trader with five long Tier C positions thinks they have diversified. Aggregated to factors, the same trader has roughly 5% NAV exposure to equity beta, and when the broader tape sells off, the diversification disappears.

You will leave with the trades-view to book-view translation, how to aggregate a book into six factor numbers in fifteen minutes a week, typical cross-asset correlations and where they regime-flip, equity / rates / FX / commodity / crypto hedge primitives, the hedging budget concept, vol-conditioned hedge sizing, and the common mistakes that turn a hedge into a second uncorrelated bet.