2026-07-072026-07-07http://salesiana.dossiersoluciones.com/handle/123456789/208726Based on a recent theorem due to the authors, it is shown how the extreme tail dependence between an asset and a factor or index or between two assets can be easily calibrated. Portfolios constructed with stocks with minimal tail dependence with the market exhibit a remarkable degree of decorrelation with the market at no cost in terms of performance measured by the Sharpe ratio.11 pages including 3 figuresStatistical MechanicsTrading and Market Microstructuretext