If we are talking about overall portfolio hedging, there are several ways to do so.

1. Bonds 

Bonds usually are not as volatile as stocks and are supposed to act as anchors. Personally though, I am not a fan of it. As I feel that the hedging isn't very effective and the returns are too Low.

2. Gold

Gold is another well known hedge. Gold performs well during crisis. However,gold doesnt reward u well for holding. It's really only to be used as hedge. Another alternative to gold can be the gold miners. I am currently hedging by owning some $Regis Resources Ltd(RRL.AU)$there are other gold miners like 

Eg: $Barrick Gold Corp(GOLD)$

Alternatively, can gold for gold miner etf like 

$GDX

3. Defensive blue chips

This is my preferred hedging style for my dividend portfolio. The defensive in this case, will refer to companies that even In crisis, u have no choice but to use. When other not as defensive stocks drop, there will potentially be rotation into such stocks.

Eg. Utilities, telecom, transport

Personally, I own $AGL ENERGY LTD(AGL.AU)$, $COMFORTDELGRO CORPORATION LTD(C52.SI)$$SINGTEL(Z74.SI)$

their returns aren't great, but I treat them ashedges during time of crisis.

Consumer staples are also good hedges, $XLP is a gd consumer staple etf.

4. Inverse ETF and VXX

there are ETFs that tracks the inverse, which means when markets drop, They rally.

Eg will be $TZA and $SPDN.

Another way that we can do hedging is by having a way to profit when the markets haveincreased volatily. That will be $VXX.

Personally, I am using $TZA and $VXX as hedges in my options portfolio.

5. Options.

This is a love and hate relationship. [Facepalm] when I reach this part, many will auto switch off. I perfectly understand, options isn't for everyone. But amongst all the hedges, options is the most effective.

There are 2 main approach, buying put options to profit when there's Downside or sellingcall options.

Personally, I dun like to buy options, as i liketime to help me, whereas when we buy put options, time works against us.

My preferred hedge is to sell call options.

U can sell call options on stocks that u already own, creating covered calls.

Currently, I am selling call options on my positions, forming a hedge. That's also the reason y when $baba drops so much lately, my friend was asking me how come I can still be profitable.

 [Helpless] 

It just goes to show that the hedging works. [Cool] [Cool] [Cool] 

Guess that's all I can think of today. 

Hope that the above sharing can help. 

[Victory]