[증권사 금리 압박]⑥ NH증권, 균형 구조 속 동시 둔화 리스크

NH Securities demonstrates the paradox of portfolio diversification: its balanced mix of brokerage, investment banking, and asset management provides stability in normal markets, but creates correlated downside risk when broader economic conditions deteriorate. With interest rates in flux and market sentiment turning conservative, all revenue streams face simultaneous pressure from common factors. This structural vulnerability highlights how diversification cannot fully insulate financial firms from cyclical industry-wide downturns.