ZS vs. CAT
ZS (Zscaler, Inc.) and CAT (Caterpillar Inc.) are both stocks. ZS operates in Software - Infrastructure (Technology), while CAT operates in Farm & Heavy Construction Machinery (Industrials). Over the past 5 years, ZS returned -9.02%/yr vs 35.17%/yr for CAT. At a 0.16 correlation, their price movements are largely independent.
Performance
ZS vs. CAT - 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 CAT's 59.62% return.
ZS
- 1D
- 2.70%
- 1M
- -19.58%
- YTD
- -42.42%
- 6M
- -45.18%
- 1Y
- -57.11%
- 3Y*
- -6.33%
- 5Y*
- -9.02%
- 10Y*
- —
CAT
- 1D
- 1.44%
- 1M
- 2.51%
- YTD
- 59.62%
- 6M
- 52.94%
- 1Y
- 157.79%
- 3Y*
- 57.16%
- 5Y*
- 35.17%
- 10Y*
- 31.33%
ZS vs. CAT - 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% |
CAT Caterpillar Inc. | 59.62% | 60.30% | 24.66% | 25.95% | 18.60% | 15.95% | 26.97% | 19.51% | -16.34% |
Correlation
The correlation between ZS and CAT 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 (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2018 | 0.16 |
The correlation between ZS and CAT shifts across timeframes, from -0.06 (1 year) to 0.22 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
ZS:
$20.82B
CAT:
$424.14B
ZS:
-$0.49
CAT:
$20.07
ZS:
6.48
CAT:
6.04
ZS:
8.80
CAT:
22.73
ZS:
$3.17B
CAT:
$70.76B
ZS:
$2.43B
CAT:
$23.01B
ZS:
$69.08M
CAT:
$15.31B
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Return for Risk
ZS vs. CAT — Risk / Return Rank
ZS
CAT
ZS vs. CAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Zscaler, Inc. (ZS) and Caterpillar Inc. (CAT). 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 | CAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.41 | ||
| Sortino ratioReturn per unit of downside risk | -6.37 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.65 | -0.85 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 11.24 | -12.12 |
| Martin ratioReturn relative to average drawdown | -1.55 | 36.80 | -38.34 |
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Drawdowns
ZS vs. CAT - Drawdown Comparison
The maximum ZS drawdown since its inception was -76.41%, roughly equal to the maximum CAT drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for ZS and CAT.
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Drawdown Indicators
| ZS | CAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.41% | -73.43% | -2.98% |
Max Drawdown (1Y)Largest decline over 1 year | -64.89% | -13.88% | -51.01% |
Max Drawdown (3Y)Largest decline over 3 years | -64.89% | -34.05% | -30.84% |
Max Drawdown (5Y)Largest decline over 5 years | -76.41% | -34.05% | -42.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.36% | — |
Current DrawdownCurrent decline from peak | -64.88% | -3.18% | -61.70% |
Average DrawdownAverage peak-to-trough decline | -32.68% | -19.73% | -12.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.90% | 4.23% | +32.67% |
Volatility
ZS vs. CAT - Volatility Comparison
Zscaler, Inc. (ZS) has a higher volatility of 44.34% compared to Caterpillar Inc. (CAT) at 13.16%. This indicates that ZS's price experiences larger fluctuations and is considered to be riskier than CAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZS | CAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 44.34% | 13.16% | +31.18% |
Volatility (6M)Calculated over the trailing 6-month period | 57.43% | 28.37% | +29.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.73% | 35.19% | +23.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.07% | 30.79% | +25.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.78% | 30.98% | +27.80% |
Dividends
ZS vs. CAT - Dividend Comparison
ZS has not paid dividends to shareholders, while CAT's dividend yield for the trailing twelve months is around 0.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAT Caterpillar Inc. | 0.66% | 1.02% | 1.49% | 1.69% | 1.93% | 2.07% | 2.26% | 2.56% | 2.58% | 1.97% | 3.32% | 4.33% |
ZS Zscaler, Inc. | 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
ZS vs. CAT - Financials Comparison
This section allows you to compare key financial metrics between Zscaler, Inc. and Caterpillar 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. CAT - 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%.
CAT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported a gross profit of 6.11B and revenue of 17.42B. Therefore, the gross margin over that period was 35.1%.
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%.
CAT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported an operating income of 3.09B and revenue of 17.42B, resulting in an operating margin of 17.7%.
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%.
CAT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Caterpillar Inc. reported a net income of 2.55B and revenue of 17.42B, resulting in a net margin of 14.6%.
Frequently Asked Questions
ZS and CAT 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.
ZS has higher volatility (44.34%) compared to CAT (13.16%). In terms of maximum drawdown, ZS dropped -76.41% vs CAT's -73.43%.
CAT currently has the higher Sharpe Ratio (4.43 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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