I'm just getting into trading options. I think it would be sensible to ensure that my multiple outstanding trades at any given time are not correlated so that if I lose on one, I am not more likely to lose on another in a short timespan. However, calculating the correlation between options trades seems much more complicated than calculating the correlation between equities. Not only does one have to consider the correlation between the underlying asset price, but also the implied volatility. Moreover, some strategies have highly non-linear returns.
Is correlation something I should be worried about? If so, how do people typically approach this?