Is it faster to traverse the DOM from a cached selector than to find an ID’d element in the DOM?

There are a lot of questions about whether or not finding an element is faster via class or id or some other selector. I’m not interested in that. I want to know if you have:

var link = $  (this); //let's say you're in a click handler

Is it faster to find the container by doing

var container = link.closest('.container'); //assume container is .container

or

var container = $  ('#mycontainer'); //assume same element as above

I’m asking this question not just for the particular scenario above (ok, well, yes, for this scenario too) but for cached traversal vs. creating a fresh jQuery object that has an ID. I notice in a lot of my code I tend to do the former method (since it can lend itself to being more dynamic), but I was always curious if it was faster to do it the latter way.

Thanks

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