Diversification

The risk that goes away, and the risk that stays

A single company can collapse on a fraud or a product failure. A portfolio of many companies will not all collapse that way. A rise in real interest rates or a deep recession can hit most equities together. The first risk is idiosyncratic and is the one diversification is for. The second is market risk and you keep it for as long as you want equity returns.

False variety

Five technology funds can be one bet. A home-country index can be a handful of banks, miners or drug companies. Crypto tokens that fall together are not a diversified alternative to equities; they are a second risk that often rises and falls with appetite for speculation. Look at the underlying drivers, not the number of tickers.

International holdings

Owning companies that earn money in many currencies is diversification of a sort and a currency exposure at the same time. Hedging the currency removes one and keeps the other, for a cost. Country pages help you hold those international claims in a lawful, workable account. They do not pick the mix.