Zscaler Correlations

ZS Stock

USD 202.65 4.84 2.45%

The current 90-days correlation between Zscaler and Cloudflare is 0.53 (i.e., Very weak 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

Weak diversification

The correlation between Zscaler and DJI is 0.37 (i.e., Weak 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

0.81	DOCN	DigitalOcean Holdings	Pair Corr
0.77	BOX	Box Inc	Pair Corr
0.66	FTNT	Fortinet	Pair Corr
0.61	IOT	Samsara Tech Boost	Pair Corr
0.69	NET	Cloudflare Sell-off Trend	Pair Corr
0.67	RXT	Rackspace Technology	Pair Corr

Moving against Zscaler Stock

0.58	VRAR	Glimpse Group	Pair Corr
0.48	DVLT	Datavault AI Symbol Change	Pair Corr
0.41	GB	Global Blue Group	Pair Corr
0.41	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.39	FMTO	Femto Technologies Symbol Change	Pair Corr
0.42	OLB	OLB Group	Pair Corr

Related Correlations Analysis

	PANW	NET	OKTA	ADBE	CRWD	MDB	SPLK	PATH	PLTR
PANW		0.49	-0.03	0.63	0.65	0.69	0.0	0.59	0.55	PANW
NET	0.49		0.47	0.04	0.88	0.42	0.0	0.32	0.9	NET
OKTA	-0.03	0.47		-0.19	0.19	-0.31	0.0	-0.31	0.45	OKTA
ADBE	0.63	0.04	-0.19		0.12	0.65	0.0	0.56	0.06	ADBE
CRWD	0.65	0.88	0.19	0.12		0.63	0.0	0.59	0.85	CRWD
MDB	0.69	0.42	-0.31	0.65	0.63		0.0	0.83	0.35	MDB
SPLK	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SPLK
PATH	0.59	0.32	-0.31	0.56	0.59	0.83	0.0		0.31	PATH
PLTR	0.55	0.9	0.45	0.06	0.85	0.35	0.0	0.31		PLTR
	PANW	NET	OKTA	ADBE	CRWD	MDB	SPLK	PATH	PLTR

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PLTR	+ 0.9	NET
CRWD	+ 0.88	NET
PLTR	+ 0.85	CRWD
PATH	+ 0.83	MDB
MDB	+ 0.69	PANW
CRWD	+ 0.65	PANW

High negative correlations

PATH	- 0.31	OKTA
MDB	- 0.31	OKTA
ADBE	- 0.19	OKTA
OKTA	- 0.03	PANW
PLTR	- 0.0	SPLK
PATH	- 0.0	SPLK

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	1.66	(0.05)	0.00	(0.16)	0.00	0.00	3.41	(3.91)	9.22
NET	2.51	0.21	0.06	0.10	3.26	(2.48)	3.79	(4.87)	26.62
OKTA	2.18	0.55	0.25	0.77	1.96	(2.57)	4.48	(3.96)	30.71
ADBE	1.49	(0.36)	0.00	(0.42)	0.00	0.00	2.24	(3.19)	18.02
CRWD	2.60	0.14	0.03	0.00	3.33	(2.69)	5.48	(6.34)	16.73
MDB	2.80	(0.67)	0.00	(0.62)	0.00	0.00	3.83	(5.77)	34.28
SPLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PATH	2.68	(0.19)	0.00	(0.20)	0.00	0.00	4.77	(5.20)	26.12
PLTR	3.96	0.57	0.08	0.14	4.75	(4.16)	8.31	(10.05)	34.72

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC