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21 of 73 unique stocks in common · Jaccard: 28.8%
A weighted portfolio overlap of 33.7% indicates a moderate overlap (a meaningful shared core). This means that out of every ₹100 you invest across these two schemes, approximately ₹33.7 is allocated to the exact same companies at the same relative proportions. The schemes share 21 common holdings.
The largest overlapping asset in their portfolios is Reliance Industries, which commands a weight of 7.73% in NJ Arbitrage Fund and 8.25% in SBI Nifty 50 ETF. Holding both schemes increases your concentration in Reliance Industries rather than expanding your diversification.
If the overlap is above 30%, it is typically because both schemes benchmark to the same index (e.g. Nifty 50 or Nifty LargeMidcap 250) or overlap in their top large-cap picks. To improve your portfolio's diversification, consider allocating one of these tranches to a category with lower structural correlation (such as a mid-cap, small-cap, or international equity fund).
| Stock | in NJ | in SBI |
|---|---|---|
| Reliance IndustriesPetroleum Products | 7.73% | 8.25% |
| HDFC BankBanks | 6.95% | 10.53% |
| State Bank of IndiaBanks | 3.77% | 3.70% |
| Bharti AirtelTelecom - Services | 2.90% | 5.19% |
| Bajaj FinanceFinance | 3.79% | 2.25% |
| Axis BankBanks | 2.13% | 3.41% |
| Titan CompanyConsumer Durables | 1.32% | 1.55% |
| ICICI BankBanks | 1.09% | 8.30% |
| Larsen & ToubroConstruction | 0.80% | 4.43% |
| Adani EnterprisesMetals & Minerals Trading | 4.17% | 0.78% |
| Tata Motors Passenger VehiclesAutomobiles | 1.93% | 0.76% |
| TrentRetailing | 0.67% | 0.87% |
| Hindustan UnileverDiversified FMCG | 0.62% | 1.77% |
| Hindalco IndustriesNon - Ferrous Metals | 0.55% | 1.51% |
| Jio Financial ServicesFinance | 0.43% | 0.72% |
| CiplaPharmaceuticals & Biotechnology | 0.35% | 0.73% |
| Grasim IndustriesCement & Cement Products | 0.23% | 1.10% |
| HDFC Life Insurance CompanyInsurance | 0.16% | 0.59% |
| Bajaj FinservFinance | 0.14% | 0.95% |
| ITCDiversified FMCG | 0.10% | 2.56% |
| Bharat ElectronicsAerospace & Defense | 0.04% | 1.36% |
Weighted overlap = Σ min(weight in fund A, weight in fund B) across shared stocks, from each fund's latest public monthly portfolio (as on May 2026). Equity holdings only, ISIN-verified. Not investment advice.