Julia is a portfolio manager who recently implemented a new investment strategy focused on a broad range of asset classes. She seeks to measure the risk associated with the portfolio she has constructed. Julia is particularly interested in understanding how different investments contribute to the overall portfolio risk, with a focus on both individual asset volatility and the correlation among them.

To effectively assess the portfolio's risk, Julia considers several quantitative measures. Given her objectives, which risk measurement tool would be most appropriate for evaluating the total portfolio risk based on individual asset risks and correlations?