Before revision:  Since our findings are particularly relevant for large portfolios, where even small correlation changes can have a large impact, a further application would be to stress-test portfolios of central counterparties, which are of systemically relevant size.
After revision:  Since our findings are particularly relevant for large portfolios, where even small correlation changes can have a large impact, a further application would be to stress test portfolios of central counterparties, which are of systemically relevant size.