ZS vs. TMUS
ZS (Zscaler, Inc.) and TMUS (T-Mobile US, Inc.) are both stocks. ZS operates in Software - Infrastructure (Technology), while TMUS operates in Telecom Services (Communication Services). Over the past 5 years, ZS returned -9.02%/yr vs 6.35%/yr for TMUS. At a 0.20 correlation, their price movements are largely independent.
Performance
ZS vs. TMUS - 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 TMUS's -5.91% return.
ZS
- 1D
- 2.70%
- 1M
- -19.58%
- YTD
- -42.42%
- 6M
- -45.18%
- 1Y
- -57.11%
- 3Y*
- -6.33%
- 5Y*
- -9.02%
- 10Y*
- —
TMUS
- 1D
- 1.77%
- 1M
- 2.65%
- YTD
- -5.91%
- 6M
- -2.11%
- 1Y
- -15.50%
- 3Y*
- 15.04%
- 5Y*
- 6.35%
- 10Y*
- 16.66%
ZS vs. TMUS - 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% |
TMUS T-Mobile US, Inc. | -5.91% | -6.58% | 39.70% | 15.02% | 20.71% | -13.99% | 71.96% | 23.28% | -1.70% |
Correlation
The correlation between ZS and TMUS is -0.10, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2018 | 0.20 |
The correlation between ZS and TMUS shifts across timeframes, from -0.10 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
Fundamentals
ZS:
$20.82B
TMUS:
$208.40B
ZS:
-$0.49
TMUS:
$9.41
ZS:
6.48
TMUS:
2.34
ZS:
8.80
TMUS:
3.73
ZS:
$3.17B
TMUS:
$90.53B
ZS:
$2.43B
TMUS:
$34.92B
ZS:
$69.08M
TMUS:
$28.22B
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Return for Risk
ZS vs. TMUS — Risk / Return Rank
ZS
TMUS
ZS vs. TMUS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Zscaler, Inc. (ZS) and T-Mobile US, Inc. (TMUS). 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 | TMUS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.91 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.52 | -0.36 |
| Martin ratioReturn relative to average drawdown | -1.55 | -0.88 | -0.66 |
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Drawdowns
ZS vs. TMUS - Drawdown Comparison
The maximum ZS drawdown since its inception was -76.41%, smaller than the maximum TMUS drawdown of -86.29%. Use the drawdown chart below to compare losses from any high point for ZS and TMUS.
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Drawdown Indicators
| ZS | TMUS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.41% | -86.29% | +9.88% |
Max Drawdown (1Y)Largest decline over 1 year | -64.89% | -30.37% | -34.52% |
Max Drawdown (3Y)Largest decline over 3 years | -64.89% | -33.65% | -31.24% |
Max Drawdown (5Y)Largest decline over 5 years | -76.41% | -33.65% | -42.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.65% | — |
Current DrawdownCurrent decline from peak | -64.88% | -29.12% | -35.76% |
Average DrawdownAverage peak-to-trough decline | -32.68% | -25.96% | -6.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.90% | 17.87% | +19.03% |
Volatility
ZS vs. TMUS - Volatility Comparison
Zscaler, Inc. (ZS) has a higher volatility of 44.34% compared to T-Mobile US, Inc. (TMUS) at 7.72%. This indicates that ZS's price experiences larger fluctuations and is considered to be riskier than TMUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZS | TMUS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 44.34% | 7.72% | +36.62% |
Volatility (6M)Calculated over the trailing 6-month period | 57.43% | 19.08% | +38.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.73% | 24.99% | +33.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.07% | 23.90% | +32.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.78% | 26.08% | +32.70% |
Dividends
ZS vs. TMUS - Dividend Comparison
ZS has not paid dividends to shareholders, while TMUS's dividend yield for the trailing twelve months is around 2.08%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
TMUS T-Mobile US, Inc. | 2.08% | 1.80% | 1.28% | 0.41% |
ZS Zscaler, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
ZS vs. TMUS - Financials Comparison
This section allows you to compare key financial metrics between Zscaler, Inc. and T-Mobile US, 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. TMUS - 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%.
TMUS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, T-Mobile US, Inc. reported a gross profit of 0.00 and revenue of 23.11B. Therefore, the gross margin over that period was 0.0%.
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%.
TMUS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, T-Mobile US, Inc. reported an operating income of 4.50B and revenue of 23.11B, resulting in an operating margin of 19.5%.
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%.
TMUS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, T-Mobile US, Inc. reported a net income of 2.50B and revenue of 23.11B, resulting in a net margin of 10.8%.
Frequently Asked Questions
ZS and TMUS have a correlation of -0.10, 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 TMUS (7.72%). In terms of maximum drawdown, ZS dropped -76.41% vs TMUS's -86.29%.
TMUS currently has the higher Sharpe Ratio (-0.63 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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