I have been reading about the fact that sudden market swings can actually cause a lot of shivers in the portfolio performance, but I want to know about the big picture. What does market volatility really do to asset allocation strategies? Are investors likely to have higher rebalancing rates, or do they tend to move to less risky assets during bad times? The reason is that I am researching this under <span style="box-sizing: border-box; margin: 0px; padding: 0px;">my Asset</span> Management Dissertation Topics ,and I would love to know the opinion of anyone who has studied or has personal experience with these trends. What is the general way professionals change their approaches in response to volatility spikes?