ZS vs. AMZN
ZS (Zscaler, Inc.) and AMZN (Amazon.com, Inc) are both stocks. ZS operates in Software - Infrastructure (Technology), while AMZN operates in Internet Retail (Consumer Cyclical). Over the past 5 years, ZS returned -9.02%/yr vs 7.35%/yr for AMZN. A 0.50 correlation means they provide meaningful diversification when combined.
Performance
ZS vs. AMZN - Performance Comparison
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Returns By Period
In the year-to-date period, ZS achieves a -42.42% return, which is significantly lower than AMZN's 3.35% return.
ZS
- 1D
- 2.70%
- 1M
- -19.58%
- YTD
- -42.42%
- 6M
- -45.18%
- 1Y
- -57.11%
- 3Y*
- -6.33%
- 5Y*
- -9.02%
- 10Y*
- —
AMZN
- 1D
- -1.23%
- 1M
- -9.69%
- YTD
- 3.35%
- 6M
- 5.46%
- 1Y
- 12.47%
- 3Y*
- 23.49%
- 5Y*
- 7.35%
- 10Y*
- 20.83%
ZS vs. AMZN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ZS Zscaler, Inc. | -42.42% | 24.67% | -18.57% | 98.00% | -65.18% | 60.90% | 329.48% | 18.59% | 42.58% |
AMZN Amazon.com, Inc | 3.35% | 5.21% | 44.39% | 80.88% | -49.62% | 2.38% | 76.26% | 23.03% | -5.08% |
Correlation
The correlation between ZS and AMZN is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2018 | 0.50 |
Over the past year, the correlation between ZS and AMZN has dropped to 0.27 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.
Fundamentals
ZS:
$20.82B
AMZN:
$2.59T
ZS:
-$0.49
AMZN:
$8.37
ZS:
6.48
AMZN:
3.48
ZS:
8.80
AMZN:
5.87
ZS:
$3.17B
AMZN:
$742.78B
ZS:
$2.43B
AMZN:
$348.59B
ZS:
$69.08M
AMZN:
$152.71B
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Return for Risk
ZS vs. AMZN — Risk / Return Rank
ZS
AMZN
ZS vs. AMZN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Zscaler, Inc. (ZS) and Amazon.com, Inc (AMZN). 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.
| ZS | AMZN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -2.10 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.09 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 0.55 | -1.43 |
| Martin ratioReturn relative to average drawdown | -1.55 | 1.29 | -2.84 |
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Drawdowns
ZS vs. AMZN - Drawdown Comparison
The maximum ZS drawdown since its inception was -76.41%, smaller than the maximum AMZN drawdown of -94.40%. Use the drawdown chart below to compare losses from any high point for ZS and AMZN.
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Drawdown Indicators
| ZS | AMZN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.41% | -94.40% | +17.99% |
Max Drawdown (1Y)Largest decline over 1 year | -64.89% | -21.74% | -43.15% |
Max Drawdown (3Y)Largest decline over 3 years | -64.89% | -30.88% | -34.01% |
Max Drawdown (5Y)Largest decline over 5 years | -76.41% | -56.15% | -20.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.15% | — |
Current DrawdownCurrent decline from peak | -64.88% | -13.25% | -51.63% |
Average DrawdownAverage peak-to-trough decline | -32.68% | -28.19% | -4.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.90% | 9.21% | +27.69% |
Volatility
ZS vs. AMZN - Volatility Comparison
Zscaler, Inc. (ZS) has a higher volatility of 44.34% compared to Amazon.com, Inc (AMZN) at 7.92%. This indicates that ZS's price experiences larger fluctuations and is considered to be riskier than AMZN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZS | AMZN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 44.34% | 7.92% | +36.42% |
Volatility (6M)Calculated over the trailing 6-month period | 57.43% | 20.73% | +36.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.73% | 30.13% | +28.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.07% | 35.53% | +20.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.78% | 32.48% | +26.30% |
Dividends
ZS vs. AMZN - Dividend Comparison
Neither ZS nor AMZN has paid dividends to shareholders.
Financials
ZS vs. AMZN - Financials Comparison
This section allows you to compare key financial metrics between Zscaler, Inc. and Amazon.com, 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
ZS vs. AMZN - Profitability Comparison
ZS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.
AMZN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Amazon.com, Inc reported a gross profit of 66.77B and revenue of 181.52B. Therefore, the gross margin over that period was 36.8%.
ZS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Zscaler, Inc. reported an operating income of -29.64M and revenue of 850.48M, resulting in an operating margin of -3.5%.
AMZN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Amazon.com, Inc reported an operating income of 23.85B and revenue of 181.52B, resulting in an operating margin of 13.1%.
ZS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Zscaler, Inc. reported a net income of -13.88M and revenue of 850.48M, resulting in a net margin of -1.6%.
AMZN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Amazon.com, Inc reported a net income of 30.26B and revenue of 181.52B, resulting in a net margin of 16.7%.
Frequently Asked Questions
ZS and AMZN have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZS has higher volatility (44.34%) compared to AMZN (7.92%). In terms of maximum drawdown, ZS dropped -76.41% vs AMZN's -94.40%.
AMZN currently has the higher Sharpe Ratio (0.40 vs -0.97), 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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