Workshop on Risk Correlation Analysis and Risk Measurement

The analysis of inter-risk correlation and risk aggregation is an important factor to risk measurement, such as the interaction of market risk, credit risk and operational risk. Correlation analysis and risk measurement can be viewed as a Multiple Criteria Decision Making problem in a certain extent, which is the trade-off among different aspects, such as the “project triangle”（cost, quality and schedule）.Some mathematical models such as Copula models are used for measuring risk correlation, but risk management must extend far beyond the use of standard measurement in practical operations and applications. An important aspect is to emphasize on the correlation analysis of risks and thus effectively measure all kinds of financial risks.