There are other kinds of risk too.
1. Capital risk.
2. Liquidity risk
3. Currency risk
4. Interest rate risk
5. Financial risk
6. Credit risk
7. Event risk (Black Swan)
However, the biggest risk of all is when you elect not to invest or participate in the market.
You are assuring yourself of a declining standard of living because inflation will eat away the value of your holdings over time.
It is impossible to avoid risk in investing or in life.
Risk can be managed, through asset allocation and diversification, within and among asset classes and managing risk is crucial to investment success.