AIRJ vs. ZS

Last updated Jun 3, 2026

AIRJ (AirJoule Technologies Corp) and ZS (Zscaler, Inc.) are both stocks. AIRJ operates in Building Products & Equipment (Industrials), while ZS operates in Software - Infrastructure (Technology). Over the past year, AIRJ returned 34.31% vs -50.83% for ZS. At a 0.07 correlation, their price movements are largely independent.

Performance

AIRJ vs. ZS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AirJoule Technologies Corp (AIRJ) and Zscaler, Inc. (ZS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIRJ achieves a 39.09% return, which is significantly higher than ZS's -35.91% return.

AIRJ

• 1D: 5.38%
• 1M: 74.52%
• YTD: 39.09%
• 6M: 97.12%
• 1Y: 34.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZS

• 1D: -7.42%
• 1M: 3.10%
• YTD: -35.91%
• 6M: -40.36%
• 1Y: -50.83%
• 3Y*: 0.41%
• 5Y*: -4.79%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIRJ vs. ZS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AIRJ AirJoule Technologies Corp	39.09%	-50.53%	-33.62%
ZS Zscaler, Inc.	-35.91%	24.67%	-7.02%

Correlation

The correlation between AIRJ and ZS is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	0.07

Fundamentals

Market Cap AIRJ : $324.11M ZS : $23.17B
EPS AIRJ : -$0.76 ZS : -$0.49
PB Ratio AIRJ : 1.21 ZS : 9.79
Total Revenue (TTM) AIRJ : $0.00 ZS : $3.17B
Gross Profit (TTM) AIRJ : -$13.18K ZS : $2.43B
EBITDA (TTM) AIRJ : -$27.31M ZS : $69.08M

Return for Risk

AIRJ vs. ZS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIRJ

AIRJ Risk / Return Rank: 55
AIRJ Sharpe Ratio Rank: 55
AIRJ Sortino Ratio Rank: 58
AIRJ Omega Ratio Rank: 56
AIRJ Calmar Ratio Rank: 56
AIRJ Martin Ratio Rank: 52

ZS

ZS Risk / Return Rank: 9
ZS Sharpe Ratio Rank: 7
ZS Sortino Ratio Rank: 9
ZS Omega Ratio Rank: 7
ZS Calmar Ratio Rank: 13
ZS Martin Ratio Rank: 8

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIRJ vs. ZS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AirJoule Technologies Corp (AIRJ) 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.

	AIRJ	ZS	Difference
Sharpe ratio Return per unit of total volatility	0.43	-0.88	+1.31
Sortino ratio Return per unit of downside risk	1.22	-1.08	+2.31
Omega ratio Gain probability vs. loss probability	1.14	0.83	+0.32
Calmar ratio Return relative to maximum drawdown	0.69	-0.74	+1.43
Martin ratio Return relative to average drawdown	1.15	-1.35	+2.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AIRJ vs. ZS - Sharpe Ratio Comparison

The current AIRJ Sharpe Ratio is 0.43, which is higher than the ZS Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of AIRJ and ZS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AIRJ	ZS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	-0.88	+1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.34	0.34	-0.68

Drawdowns

AIRJ vs. ZS - Drawdown Comparison

The maximum AIRJ drawdown since its inception was -87.38%, which is greater than ZS's maximum drawdown of -76.41%. Use the drawdown chart below to compare losses from any high point for AIRJ and ZS.

Drawdown Indicators

	AIRJ	ZS	Difference
Max Drawdown Largest peak-to-trough decline	-87.38%	-76.41%	-10.97%
Max Drawdown (1Y) Largest decline over 1 year	-61.91%	-64.89%	+2.98%
Max Drawdown (3Y) Largest decline over 3 years	—	-64.89%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-76.41%	—
Current Drawdown Current decline from peak	-72.45%	-60.91%	-11.54%
Average Drawdown Average peak-to-trough decline	-64.99%	-32.57%	-32.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.03%	35.23%	+1.80%

Volatility

AIRJ vs. ZS - Volatility Comparison

The current volatility for AirJoule Technologies Corp (AIRJ) is 29.03%, while Zscaler, Inc. (ZS) has a volatility of 45.01%. This indicates that AIRJ 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.

Volatility by Period

	AIRJ	ZS	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.03%	45.01%	-15.98%
Volatility (6M) Calculated over the trailing 6-month period	60.31%	56.92%	+3.39%
Volatility (1Y) Calculated over the trailing 1-year period	80.04%	58.55%	+21.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.58%	56.05%	+32.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.58%	58.42%	+30.16%

Dividends

AIRJ vs. ZS - Dividend Comparison

Neither AIRJ nor ZS has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both AIRJ and ZS in my portfolio?

AIRJ and ZS have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIRJ or ZS?

ZS has higher volatility (45.01%) compared to AIRJ (29.03%). In terms of maximum drawdown, AIRJ dropped -87.38% vs ZS's -76.41%.

Which has better risk-adjusted returns?

AIRJ currently has the higher Sharpe Ratio (0.43 vs -0.88), 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.