ZBRA vs. TSM
ZBRA (Zebra Technologies Corporation) and TSM (Taiwan Semiconductor Manufacturing Company Limited) are both stocks. Both are in the Technology sector — ZBRA in Communication Equipment, TSM in Semiconductors. Over the past 10 years, ZBRA returned 16.37%/yr vs 36.20%/yr for TSM. At a 0.39 correlation, their price movements are largely independent.
Performance
ZBRA vs. TSM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZBRA achieves a 2.67% return, which is significantly lower than TSM's 44.10% return. Over the past 10 years, ZBRA has underperformed TSM with an annualized return of 16.37%, while TSM has yielded a comparatively higher 36.20% annualized return.
ZBRA
- 1D
- -2.02%
- 1M
- 11.43%
- YTD
- 2.67%
- 6M
- -3.87%
- 1Y
- -14.62%
- 3Y*
- -3.57%
- 5Y*
- -13.56%
- 10Y*
- 16.37%
TSM
- 1D
- -2.24%
- 1M
- 8.73%
- YTD
- 44.10%
- 6M
- 48.60%
- 1Y
- 123.66%
- 3Y*
- 66.46%
- 5Y*
- 31.74%
- 10Y*
- 36.20%
ZBRA vs. TSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZBRA Zebra Technologies Corporation | 2.67% | -37.13% | 41.30% | 6.60% | -56.92% | 54.87% | 50.46% | 60.42% | 53.40% | 21.04% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 44.10% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
Correlation
The correlation between ZBRA and TSM is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 1997 | 0.39 |
The correlation between ZBRA and TSM shifts across timeframes, from 0.34 (1 year) to 0.47 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ZBRA:
$12.63B
TSM:
$2.26T
ZBRA:
$8.16
TSM:
$373.98
ZBRA:
30.55
TSM:
1.17
ZBRA:
2.29
TSM:
0.55
ZBRA:
3.64
TSM:
0.38
ZBRA:
$5.58B
TSM:
$4.13T
ZBRA:
$2.65B
TSM:
$2.55T
ZBRA:
$1.02B
TSM:
$3.14T
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZBRA vs. TSM — Risk / Return Rank
ZBRA
TSM
ZBRA vs. TSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Zebra Technologies Corporation (ZBRA) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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.
| ZBRA | TSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.85 | ||
| Sortino ratioReturn per unit of downside risk | -4.30 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.49 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 6.86 | -7.21 |
| Martin ratioReturn relative to average drawdown | -0.62 | 24.68 | -25.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ZBRA | TSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.36 | 3.49 | -3.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | 0.86 | -1.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 1.06 | -0.65 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.37 | -0.12 |
Drawdowns
ZBRA vs. TSM - Drawdown Comparison
The maximum ZBRA drawdown since its inception was -73.42%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for ZBRA and TSM.
Loading charts...
Drawdown Indicators
| ZBRA | TSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.42% | -89.08% | +15.66% |
Max Drawdown (1Y)Largest decline over 1 year | -41.62% | -18.14% | -23.48% |
Max Drawdown (3Y)Largest decline over 3 years | -52.67% | -36.82% | -15.85% |
Max Drawdown (5Y)Largest decline over 5 years | -67.78% | -56.47% | -11.31% |
Max Drawdown (10Y)Largest decline over 10 years | -67.78% | -56.47% | -11.31% |
Current DrawdownCurrent decline from peak | -59.43% | -2.24% | -57.19% |
Average DrawdownAverage peak-to-trough decline | -27.68% | -42.89% | +15.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.75% | 5.03% | +18.72% |
Volatility
ZBRA vs. TSM - Volatility Comparison
Zebra Technologies Corporation (ZBRA) has a higher volatility of 15.81% compared to Taiwan Semiconductor Manufacturing Company Limited (TSM) at 11.64%. This indicates that ZBRA's price experiences larger fluctuations and is considered to be riskier than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZBRA | TSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.81% | 11.64% | +4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 29.79% | 27.19% | +2.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.16% | 35.61% | +5.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.27% | 37.27% | +3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.27% | 34.12% | +5.15% |
Dividends
ZBRA vs. TSM - Dividend Comparison
ZBRA has not paid dividends to shareholders, while TSM's dividend yield for the trailing twelve months is around 0.76%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.76% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
ZBRA Zebra Technologies Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
ZBRA vs. TSM - Financials Comparison
This section allows you to compare key financial metrics between Zebra Technologies Corporation and Taiwan Semiconductor Manufacturing Company Limited. 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
ZBRA vs. TSM - Profitability Comparison
ZBRA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Zebra Technologies Corporation reported a gross profit of 742.00M and revenue of 1.50B. Therefore, the gross margin over that period was 49.6%.
TSM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a gross profit of 759.06B and revenue of 1.15T. Therefore, the gross margin over that period was 66.3%.
ZBRA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Zebra Technologies Corporation reported an operating income of 215.00M and revenue of 1.50B, resulting in an operating margin of 14.4%.
TSM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported an operating income of 664.08B and revenue of 1.15T, resulting in an operating margin of 58.0%.
ZBRA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Zebra Technologies Corporation reported a net income of 135.00M and revenue of 1.50B, resulting in a net margin of 9.0%.
TSM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a net income of 578.40B and revenue of 1.15T, resulting in a net margin of 50.5%.
Frequently Asked Questions
ZBRA and TSM have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZBRA has higher volatility (15.81%) compared to TSM (11.64%). In terms of maximum drawdown, ZBRA dropped -73.42% vs TSM's -89.08%.
TSM currently has the higher Sharpe Ratio (3.49 vs -0.36), 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.
Find the right allocation for ZBRA and TSM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer