ZS vs. CRM
ZS (Zscaler, Inc.) and CRM (Salesforce, Inc.) are both stocks. Both are in the Technology sector — ZS in Software - Infrastructure, CRM in Software - Application. Over the past 5 years, ZS returned -8.51%/yr vs -5.00%/yr for CRM. Their 0.56 correlation means they have sometimes moved together and sometimes differently.
Performance
ZS vs. CRM - Performance Comparison
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Returns By Period
In the year-to-date period, ZS achieves a -32.78% return, which is significantly lower than CRM's -30.18% return.
ZS
- 1D
- 1.89%
- 1M
- 3.24%
- 6M
- -24.40%
- YTD
- -32.78%
- 1Y
- -47.05%
- 3Y*
- -2.43%
- 5Y*
- -8.51%
- 10Y*
- —
- ALL TIME*
- 22.57%
CRM
- 1D
- 1.83%
- 1M
- 12.74%
- 6M
- -12.88%
- YTD
- -30.18%
- 1Y
- -28.16%
- 3Y*
- -5.84%
- 5Y*
- -5.00%
- 10Y*
- 8.81%
- ALL TIME*
- 19.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.36B | $2.15B | $2.56B | |
| $301.30M | $351.13M | $636.73M |
ZS vs. CRM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ZS Zscaler, Inc. | -32.78% | 24.67% | -18.57% | 98.00% | -65.18% | 60.90% | 329.48% | 18.59% | 42.58% |
CRM Salesforce, Inc. | -30.18% | -20.25% | 27.76% | 98.46% | -47.83% | 14.20% | 36.82% | 18.74% | 7.66% |
Correlation
The correlation between ZS and CRM is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2018 | 0.56 |
The correlation between ZS and CRM has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.
Fundamentals
ZS:
$24.45B
CRM:
$150.71B
ZS:
-$0.48
CRM:
$8.68
ZS:
7.61
CRM:
3.97
ZS:
10.27
CRM:
4.68
ZS:
$3.17B
CRM:
$42.83B
ZS:
$2.43B
CRM:
$33.25B
ZS:
$69.08M
CRM:
$12.32B
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Return for Risk
ZS vs. CRM — Risk / Return Rank
ZS
CRM
ZS vs. CRM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Zscaler, Inc. (ZS) and Salesforce, Inc. (CRM). 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 | CRM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.90 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | -0.65 | -0.07 |
| Martin ratioReturn relative to average drawdown | -1.12 | -1.20 | +0.08 |
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Drawdowns
ZS vs. CRM - Drawdown Comparison
The maximum ZS drawdown since its inception was -76.41%, which is greater than CRM's maximum drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for ZS and CRM.
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Drawdown Indicators
| ZS | CRM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.41% | -70.50% | -5.91% |
Max Drawdown (1Y)Largest decline over 1 year | -64.89% | -43.33% | -21.56% |
Max Drawdown (3Y)Largest decline over 3 years | -64.89% | -58.67% | -6.22% |
Max Drawdown (5Y)Largest decline over 5 years | -76.41% | -58.67% | -17.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -58.67% | — |
Current DrawdownCurrent decline from peak | -59.00% | -49.34% | -9.66% |
Average DrawdownAverage peak-to-trough decline | -33.13% | -16.37% | -16.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.16% | 23.55% | +18.61% |
Volatility
ZS vs. CRM - Volatility Comparison
Zscaler, Inc. (ZS) and Salesforce, Inc. (CRM) have volatilities of 14.07% and 14.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZS | CRM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.07% | 14.40% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 58.81% | 33.51% | +25.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.68% | 41.11% | +19.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.47% | 37.77% | +18.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.62% | 35.70% | +22.92% |
Dividends
ZS vs. CRM - Dividend Comparison
ZS has not paid dividends to shareholders, while CRM's dividend yield for the trailing twelve months is around 0.93%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CRM Salesforce, Inc. | 0.93% | 0.63% | 0.48% |
ZS Zscaler, Inc. | 0.00% | 0.00% | 0.00% |
Financials
ZS vs. CRM - Financials Comparison
This section allows you to compare key financial metrics between Zscaler, Inc. and Salesforce, 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. CRM - Profitability Comparison
ZS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 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%.
CRM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Salesforce, Inc. reported a gross profit of 8.56B and revenue of 11.13B. Therefore, the gross margin over that period was 76.9%.
ZS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Zscaler, Inc. reported an operating income of -29.64M and revenue of 850.48M, resulting in an operating margin of -3.5%.
CRM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Salesforce, Inc. reported an operating income of 2.35B and revenue of 11.13B, resulting in an operating margin of 21.1%.
ZS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Zscaler, Inc. reported a net income of -13.88M and revenue of 850.48M, resulting in a net margin of -1.6%.
CRM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Salesforce, Inc. reported a net income of 2.11B and revenue of 11.13B, resulting in a net margin of 18.9%.
Frequently Asked Questions
ZS and CRM have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRM has higher volatility (14.40%) compared to ZS (14.07%). In terms of maximum drawdown, ZS dropped -76.41% vs CRM's -70.50%.
CRM currently has the higher Sharpe Ratio (-0.69 vs -0.78), 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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