Zscaler Correlations

ZS Stock

USD 193.04 4.01 2.04%

The current 90-days correlation between Zscaler and Cloudflare is 0.61 (i.e., Poor diversification). The correlation of Zscaler is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Zscaler Correlation With Market

Average diversification

The correlation between Zscaler and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zscaler and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zscaler. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Zscaler Stock please use our How to Invest in Zscaler guide.

Moving together with Zscaler Stock

0.65	S	SentinelOne	Pair Corr
0.82	DOCN	DigitalOcean Holdings Buyout Trend	Pair Corr
0.81	BOX	Box Inc Earnings Call This Week	Pair Corr
0.88	IOT	Samsara	Pair Corr
0.81	MDB	MongoDB Earnings Call Next Week	Pair Corr

Moving against Zscaler Stock

0.7	VRAR	Glimpse Group	Pair Corr
0.52	GB	Global Blue Group Tech Boost	Pair Corr
0.49	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.38	HCP	Hashicorp	Pair Corr
0.37	LIDRW	AEye Inc	Pair Corr

Related Correlations Analysis

	PANW	NET	OKTA	ADBE	CRWD	MDB	SPLK	PATH	PLTR
PANW		0.18	0.03	0.64	0.32	0.64	0.0	0.45	0.26	PANW
NET	0.18		0.93	-0.33	0.95	0.0	0.0	0.43	0.94	NET
OKTA	0.03	0.93		-0.41	0.88	-0.07	0.0	0.48	0.84	OKTA
ADBE	0.64	-0.33	-0.41		-0.22	0.84	0.0	0.44	-0.27	ADBE
CRWD	0.32	0.95	0.88	-0.22		0.13	0.0	0.51	0.92	CRWD
MDB	0.64	0.0	-0.07	0.84	0.13		0.0	0.7	-0.01	MDB
SPLK	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SPLK
PATH	0.45	0.43	0.48	0.44	0.51	0.7	0.0		0.36	PATH
PLTR	0.26	0.94	0.84	-0.27	0.92	-0.01	0.0	0.36		PLTR
	PANW	NET	OKTA	ADBE	CRWD	MDB	SPLK	PATH	PLTR

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CRWD	+ 0.95	NET
PLTR	+ 0.94	NET
OKTA	+ 0.93	NET
PLTR	+ 0.92	CRWD
CRWD	+ 0.88	OKTA
PLTR	+ 0.84	OKTA

High negative correlations

ADBE	- 0.41	OKTA
ADBE	- 0.33	NET
PLTR	- 0.27	ADBE
CRWD	- 0.22	ADBE
MDB	- 0.07	OKTA
PLTR	- 0.01	MDB

Risk-Adjusted Indicators

There is a big difference between Zscaler Stock performing well and Zscaler Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Zscaler's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PANW	1.59	(0.04)	0.00	(0.36)	0.00	0.00	3.05	(3.90)	9.25
NET	2.35	0.81	0.33	2.95	1.84	(2.73)	5.54	(2.83)	22.63
OKTA	1.60	0.33	0.18	0.52	1.59	(1.83)	4.24	(2.56)	10.08
ADBE	1.24	(0.17)	0.00	(0.27)	0.00	0.00	2.31	(2.37)	17.61
CRWD	2.03	0.26	0.09	0.19	2.46	(2.12)	4.40	(3.68)	16.10
MDB	2.36	(0.01)	0.00	(0.01)	0.00	0.00	5.34	(4.69)	28.87
SPLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PATH	2.39	0.15	0.05	0.09	2.69	(2.69)	6.29	(5.10)	15.61
PLTR	3.51	0.61	0.14	0.38	3.88	(3.89)	6.88	(6.86)	34.07

Zscaler Corporate Management

Ashwin Kesireddy	Vice Finance	Profile
Dali Rajic	Chief Officer	Profile
Mike Rich	Chief Sales	Profile
Chris Kozup	Chief Officer	Profile
Brendan Castle	Chief Officer	Profile
Kailash	Founder Architect	Profile

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