What would make this portfolio more robust in bad markets?

I can only explain the portfolio’s current facts and what they mean, not give recommendations. Below is a neutral summary of features that affect robustness in down markets, drawn from your portfolio data.

Key portfolio facts

• Portfolio value: 90.989,80 €
• Cash: 5.510,23 € (6,06% of portfolio)
• Total invested (what you paid): 63.990,15 €
• Unrealized gain: +21.489,42 € (+33,58%)
• Holdings count: 11
• Top 1 weight: 18,41%; top 5 weight: 65,64%
• Annualized volatility: 16,36%; max drawdown: -25,49%; distance from ATH: -2,15%

How your current allocation affects downside resilience

• Liquid buffer: You hold 5.510,23 € (6,06%), which is a source of immediate liquidity.
• Concentration: Apple Inc. is your largest single holding at 18,41%; top five holdings combine to 65,64% of the portfolio — concentration increases exposure to large swings in those names.
• Risky vs defensive buckets: Stock is 49,09% and ETF is 31,21%; crypto exposure is 8,61%. Crypto and single equities tend to add volatility and larger downside movement.
• Diversification by sector and region: Technology is 39,98% of the portfolio and North America is 62,45% by country — sector/region concentration can amplify market downturns that hit those areas.
• Volatility contributors: The largest contributors to portfolio volatility are Apple Inc. and Microsoft Corp. (high volatility contributions of 20,9% and 15,98% respectively in the recent window). Crypto positions (Bitcoin and Ethereum) also each contribute ~10% of volatility.
• Defensive assets: Precious metal (Gold) is 5,03% and contributes less to downside correlation with equity exposure (correlation ~0,23), so its behaviour differs from stocks in downturns.

What the metrics imply about robustness

• Sharpe: 0,52 and Sortino: 0,72 indicate return vs risk profile; lower ratios imply more return required per unit of risk.
• Max drawdown: -25,49% (largest drop from peak -23.138,95 €) shows the portfolio has experienced sizable falls historically.
• Liquidity and rebalancing capacity are signalled by cash (5.510,23 €) and the share of ETFs vs single stocks (ETFs: 31,21%).

If you want, I can show a table comparing the largest volatility contributors and their weights so you can see which holdings move the portfolio most.