ZS vs. MELI
ZS (Zscaler, Inc.) and MELI (MercadoLibre, Inc.) are both stocks. ZS operates in Software - Infrastructure (Technology), while MELI operates in Internet Retail (Consumer Cyclical). Over the past 5 years, ZS returned -8.51%/yr vs 3.66%/yr for MELI. Their 0.46 correlation means their historical movements had little consistent relationship.
Performance
ZS vs. MELI - 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 MELI's -6.77% 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%
MELI
- 1D
- -0.41%
- 1M
- 7.79%
- 6M
- -12.56%
- YTD
- -6.77%
- 1Y
- -20.89%
- 3Y*
- 15.77%
- 5Y*
- 3.66%
- 10Y*
- 28.68%
- ALL TIME*
- 26.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $585.82M | $641.09M | $903.00M | |
| $301.30M | $351.13M | $636.73M |
ZS vs. MELI - 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% |
MELI MercadoLibre, Inc. | -6.77% | 18.46% | 8.20% | 85.71% | -37.24% | -19.51% | 192.90% | 95.30% | -24.35% |
Correlation
The correlation between ZS and MELI is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2018 | 0.46 |
Over the past year, the correlation between ZS and MELI has dropped to 0.22 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
Fundamentals
ZS:
$24.45B
MELI:
$95.21B
ZS:
-$0.48
MELI:
$37.87
ZS:
7.61
MELI:
3.10
ZS:
10.27
MELI:
13.08
ZS:
$3.17B
MELI:
$30.67B
ZS:
$2.43B
MELI:
$13.95B
ZS:
$69.08M
MELI:
$3.11B
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Return for Risk
ZS vs. MELI — Risk / Return Rank
ZS
MELI
ZS vs. MELI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Zscaler, Inc. (ZS) and MercadoLibre, Inc. (MELI). 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 | MELI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.93 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | -0.55 | -0.18 |
| Martin ratioReturn relative to average drawdown | -1.12 | -0.90 | -0.22 |
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Drawdowns
ZS vs. MELI - Drawdown Comparison
The maximum ZS drawdown since its inception was -76.41%, smaller than the maximum MELI drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for ZS and MELI.
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Drawdown Indicators
| ZS | MELI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.41% | -89.49% | +13.08% |
Max Drawdown (1Y)Largest decline over 1 year | -64.89% | -38.40% | -26.49% |
Max Drawdown (3Y)Largest decline over 3 years | -64.89% | -40.82% | -24.07% |
Max Drawdown (5Y)Largest decline over 5 years | -76.41% | -68.64% | -7.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -69.12% | — |
Current DrawdownCurrent decline from peak | -59.00% | -28.15% | -30.85% |
Average DrawdownAverage peak-to-trough decline | -33.13% | -23.65% | -9.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.16% | 23.25% | +18.91% |
Volatility
ZS vs. MELI - Volatility Comparison
Zscaler, Inc. (ZS) has a higher volatility of 14.07% compared to MercadoLibre, Inc. (MELI) at 5.73%. This indicates that ZS's price experiences larger fluctuations and is considered to be riskier than MELI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZS | MELI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.07% | 5.73% | +8.34% |
Volatility (6M)Calculated over the trailing 6-month period | 58.81% | 28.58% | +30.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.68% | 39.80% | +20.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.47% | 49.68% | +6.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.62% | 48.88% | +9.74% |
Dividends
ZS vs. MELI - Dividend Comparison
Neither ZS nor MELI has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MELI MercadoLibre, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19% | 0.38% | 0.36% |
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. MELI - Financials Comparison
This section allows you to compare key financial metrics between Zscaler, Inc. and MercadoLibre, 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. MELI - 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%.
MELI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, MercadoLibre, Inc. reported a gross profit of 3.86B and revenue of 7.72B. Therefore, the gross margin over that period was 50.1%.
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%.
MELI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, MercadoLibre, Inc. reported an operating income of 611.00M and revenue of 7.72B, resulting in an operating margin of 7.9%.
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%.
MELI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, MercadoLibre, Inc. reported a net income of 417.00M and revenue of 7.72B, resulting in a net margin of 5.4%.
Frequently Asked Questions
ZS and MELI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZS has higher volatility (14.07%) compared to MELI (5.73%). In terms of maximum drawdown, ZS dropped -76.41% vs MELI's -89.49%.
MELI currently has the higher Sharpe Ratio (-0.53 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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