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How to Hedge a Mag 7 Stock Using Its Nasdaq Correlation
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Chapters8 segments · tap to seek
ticker lesson
Breakdown
0:09lesson
Market context and initial observations
- Welcome back to tasty live
- Jamal Chandler and Mike Butler
- Kai Zing joins with research
- Market gap down half percent
- Positions stabilized
1:47SPX· ticker
SPX and Nasdaq 100 correlation
- Apple and Nasdaq 100 correlation negative 0.86
- Nasdaq up, Apple down 86% of time
- Data close to negative 0.86
- Long-term correlation rare
- Most recent in 2001
3:50NASDAQ· ticker
Nasdaq and chip sector dynamics
- Apple up, Nasdaq down
- Chip sector down: SanDisk, WDC, STX
- AI names down: CBRS, SK Hynix
- Apple and Costco correlated
- Mag seven down, Apple up
5:53NASDAQ· ticker
Price vs. return correlation
- 30-day return correlation close to zero
- Internal path differs: Nasdaq down, Apple up
- Portfolio impact of divergent paths
- Return convergence over time
8:01NASDAQ· ticker
Apple vs. mag seven correlation
- Apple and mag seven correlation close to zero
- Historical average 0.4-0.5
- Apple deviating from group
- Market diversity benefit
10:09QQQ· ticker
Apple vs. QQQ hedging
- Apple beta against QQQ drops to 0.19
- Historical beta 1.08
- Hedge ratio 0.38
- Over-hedging increases volatility
12:22VIX· ticker
Options market efficiency
- Apple and QQQ implied volatility low
- VIX below long-term average
- Market pricing efficient
- No anomalies detected
14:18lesson
Summary and future outlook
- Apple trading independently
- Hedging difficult
- Market diversity benefit
- Follow Jamal Chandler and Mike Butler
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