Portfolio risk is a specific Trading coordinate in the Bitcoin knowledge graph. In practical terms, it identifies the subject described here: Risk produced by combined positions, correlations, concentration, leverage and shared failure modes. This definition is narrower than promotional usage and should be read together with the implementation, date and evidence attached to the entry.
Portfolio risk is best understood as part of a system rather than as an isolated definition. Its related coordinates show the mechanisms, incentives and historical records that give the term practical meaning.
Portfolio risk describes how participants value, trade or obtain exposure to bitcoin. Market behavior can affect adoption and mining economics, but it does not rewrite consensus rules. Price evidence and protocol evidence answer different questions.
Understanding Portfolio risk helps distinguish a verifiable Bitcoin mechanism or historical record from slogans, products and market narratives.
Primary or authoritative records make these details checkable: portfolio risk combines position weights with volatility, correlation, liquidity, leverage and tail exposure; drawdown, expected shortfall and scenario loss answer different questions. They should be verified before using the coordinate in analysis.
The practical limit is: historical volatility is not maximum possible loss and diversification can fail during stress; estimation window, custody, gaps, nonlinear instruments and concentration must be explicit. A definition, office, chart pattern or published claim is not by itself a prediction or Bitcoin consensus rule.
For the clearest picture, read this entry together with Position sizing, Maximum drawdown, Hedging, Risk management, Bitcoin. The reverse links also lead from Volatility, Treasury reserve asset, Tracking error, Portfolio rebalancing.