ZS vs. CVS
ZS (Zscaler, Inc.) and CVS (CVS Health Corporation) are both stocks. ZS operates in Software - Infrastructure (Technology), while CVS operates in Healthcare Plans (Healthcare). Over the past 5 years, ZS returned -9.02%/yr vs 7.08%/yr for CVS. At a 0.05 correlation, their price movements are largely independent.
Performance
ZS vs. CVS - 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 CVS's 30.67% return.
ZS
- 1D
- 2.70%
- 1M
- -19.58%
- YTD
- -42.42%
- 6M
- -45.18%
- 1Y
- -57.11%
- 3Y*
- -6.33%
- 5Y*
- -9.02%
- 10Y*
- —
CVS
- 1D
- 1.47%
- 1M
- 6.33%
- YTD
- 30.67%
- 6M
- 30.57%
- 1Y
- 56.67%
- 3Y*
- 16.60%
- 5Y*
- 7.08%
- 10Y*
- 3.70%
ZS vs. CVS - 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% |
CVS CVS Health Corporation | 30.67% | 84.35% | -40.77% | -12.53% | -7.63% | 54.87% | -5.14% | 17.26% | 1.70% |
Correlation
The correlation between ZS and CVS is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2018 | 0.05 |
The correlation between ZS and CVS shifts across timeframes, from -0.13 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
Fundamentals
ZS:
$20.82B
CVS:
$130.41B
ZS:
-$0.49
CVS:
$2.30
ZS:
6.48
CVS:
0.32
ZS:
8.80
CVS:
1.68
ZS:
$3.17B
CVS:
$407.91B
ZS:
$2.43B
CVS:
$56.59B
ZS:
$69.08M
CVS:
$9.99B
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Return for Risk
ZS vs. CVS — Risk / Return Rank
ZS
CVS
ZS vs. CVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Zscaler, Inc. (ZS) and CVS Health Corporation (CVS). 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 | CVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.89 | ||
| Sortino ratioReturn per unit of downside risk | -3.67 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.35 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 3.62 | -4.51 |
| Martin ratioReturn relative to average drawdown | -1.55 | 9.33 | -10.87 |
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Drawdowns
ZS vs. CVS - Drawdown Comparison
The maximum ZS drawdown since its inception was -76.41%, which is greater than CVS's maximum drawdown of -64.07%. Use the drawdown chart below to compare losses from any high point for ZS and CVS.
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Drawdown Indicators
| ZS | CVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.41% | -64.07% | -12.34% |
Max Drawdown (1Y)Largest decline over 1 year | -64.89% | -16.44% | -48.45% |
Max Drawdown (3Y)Largest decline over 3 years | -64.89% | -43.98% | -20.91% |
Max Drawdown (5Y)Largest decline over 5 years | -76.41% | -56.79% | -19.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.79% | — |
Current DrawdownCurrent decline from peak | -64.88% | 0.00% | -64.88% |
Average DrawdownAverage peak-to-trough decline | -32.68% | -19.54% | -13.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.90% | 6.38% | +30.52% |
Volatility
ZS vs. CVS - Volatility Comparison
Zscaler, Inc. (ZS) has a higher volatility of 44.34% compared to CVS Health Corporation (CVS) at 7.50%. This indicates that ZS's price experiences larger fluctuations and is considered to be riskier than CVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZS | CVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 44.34% | 7.50% | +36.84% |
Volatility (6M)Calculated over the trailing 6-month period | 57.43% | 25.88% | +31.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.73% | 31.05% | +27.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.07% | 29.98% | +26.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.78% | 29.30% | +29.48% |
Dividends
ZS vs. CVS - Dividend Comparison
ZS has not paid dividends to shareholders, while CVS's dividend yield for the trailing twelve months is around 2.61%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVS CVS Health Corporation | 2.61% | 3.35% | 5.93% | 3.06% | 2.36% | 1.94% | 2.93% | 2.69% | 3.05% | 2.76% | 2.15% | 1.43% |
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. CVS - Financials Comparison
This section allows you to compare key financial metrics between Zscaler, Inc. and CVS Health Corporation. 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. CVS - 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%.
CVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CVS Health Corporation reported a gross profit of 15.62B and revenue of 100.43B. Therefore, the gross margin over that period was 15.6%.
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%.
CVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CVS Health Corporation reported an operating income of 4.68B and revenue of 100.43B, resulting in an operating margin of 4.7%.
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%.
CVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CVS Health Corporation reported a net income of 2.94B and revenue of 100.43B, resulting in a net margin of 2.9%.
Frequently Asked Questions
ZS and CVS have a correlation of -0.13, 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 CVS (7.50%). In terms of maximum drawdown, ZS dropped -76.41% vs CVS's -64.07%.
CVS currently has the higher Sharpe Ratio (1.92 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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