ADBE vs. ZS
ADBE (Adobe Inc) and ZS (Zscaler, Inc.) are both stocks. Both operate in the Software - Infrastructure industry within the Technology sector. Over the past 5 years, ADBE returned -17.45%/yr vs -8.30%/yr for ZS. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
ADBE vs. ZS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ADBE having a -32.93% return and ZS slightly lower at -33.39%.
ADBE
- 1D
- -1.06%
- 1M
- 20.28%
- 6M
- -20.73%
- YTD
- -32.93%
- 1Y
- -35.83%
- 3Y*
- -23.30%
- 5Y*
- -17.45%
- 10Y*
- 9.12%
- ALL TIME*
- 19.41%
ZS
- 1D
- -0.08%
- 1M
- 20.00%
- 6M
- -29.98%
- YTD
- -33.39%
- 1Y
- -48.11%
- 3Y*
- 0.18%
- 5Y*
- -8.30%
- 10Y*
- —
- ALL TIME*
- 22.53%
ADBE vs. ZS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ADBE Adobe Inc | -32.93% | -21.29% | -25.46% | 77.28% | -40.65% | 13.38% | 51.64% | 45.78% | 3.37% |
ZS Zscaler, Inc. | -33.39% | 24.67% | -18.57% | 98.00% | -65.18% | 60.90% | 329.48% | 18.59% | 42.58% |
Correlation
The correlation between ADBE and ZS is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2018 | 0.55 |
The correlation between ADBE and ZS shifts across timeframes, from 0.43 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ADBE:
$93.31B
ZS:
$24.23B
ADBE:
$17.42
ZS:
-$0.49
ADBE:
3.87
ZS:
7.50
ADBE:
8.19
ZS:
10.18
ADBE:
$25.20B
ZS:
$3.17B
ADBE:
$22.46B
ZS:
$2.43B
ADBE:
$9.68B
ZS:
$69.08M
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Return for Risk
ADBE vs. ZS — Risk / Return Rank
ADBE
ZS
ADBE vs. ZS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Adobe Inc (ADBE) and Zscaler, Inc. (ZS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ADBE | ZS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.86 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.74 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.44 | -1.18 | -0.26 |
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Drawdowns
ADBE vs. ZS - Drawdown Comparison
The maximum ADBE drawdown since its inception was -79.89%, roughly equal to the maximum ZS drawdown of -76.41%. Use the drawdown chart below to compare losses from any high point for ADBE and ZS.
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Drawdown Indicators
| ADBE | ZS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.89% | -76.41% | -3.48% |
Max Drawdown (1Y)Largest decline over 1 year | -48.13% | -64.89% | +16.76% |
Max Drawdown (3Y)Largest decline over 3 years | -69.53% | -64.89% | -4.64% |
Max Drawdown (5Y)Largest decline over 5 years | -71.90% | -76.41% | +4.51% |
Max Drawdown (10Y)Largest decline over 10 years | -71.90% | — | — |
Current DrawdownCurrent decline from peak | -65.90% | -59.37% | -6.53% |
Average DrawdownAverage peak-to-trough decline | -26.10% | -33.02% | +6.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.87% | 40.81% | -15.94% |
Volatility
ADBE vs. ZS - Volatility Comparison
The current volatility for Adobe Inc (ADBE) is 10.20%, while Zscaler, Inc. (ZS) has a volatility of 14.43%. This indicates that ADBE experiences smaller price fluctuations and is considered to be less risky than ZS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ADBE | ZS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.20% | 14.43% | -4.23% |
Volatility (6M)Calculated over the trailing 6-month period | 30.49% | 58.88% | -28.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.07% | 60.29% | -24.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.88% | 56.40% | -19.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.58% | 58.68% | -24.10% |
Dividends
ADBE vs. ZS - Dividend Comparison
Neither ADBE nor ZS has paid dividends to shareholders.
Financials
ADBE vs. ZS - Financials Comparison
This section allows you to compare key financial metrics between Adobe Inc and Zscaler, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ADBE vs. ZS - Profitability Comparison
ADBE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Adobe Inc reported a gross profit of 5.90B and revenue of 6.62B. Therefore, the gross margin over that period was 89.2%.
ZS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Zscaler, Inc. reported a gross profit of 657.82M and revenue of 850.48M. Therefore, the gross margin over that period was 77.4%.
ADBE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Adobe Inc reported an operating income of 2.24B and revenue of 6.62B, resulting in an operating margin of 33.8%.
ZS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Zscaler, Inc. reported an operating income of -29.64M and revenue of 850.48M, resulting in an operating margin of -3.5%.
ADBE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Adobe Inc reported a net income of 1.71B and revenue of 6.62B, resulting in a net margin of 25.9%.
ZS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Zscaler, Inc. reported a net income of -13.88M and revenue of 850.48M, resulting in a net margin of -1.6%.
Frequently Asked Questions
ADBE and ZS have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZS has higher volatility (14.43%) compared to ADBE (10.20%). In terms of maximum drawdown, ADBE dropped -79.89% vs ZS's -76.41%.
ZS currently has the higher Sharpe Ratio (-0.80 vs -1.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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