EGHT vs ZM: Correlation
8x8 Inc (EGHT) and Zoom Communications, Inc. (ZM) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EGHT and ZM?
On 3 years of weekly data the EGHT/ZM correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. The 5-year figure is 0.47, and annualized covariance runs at 1403.6 %².
Within EGHT's tracked universe of 15 assets, ZM comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ZM outperformed by 18.7 percentage points (+5.2% for EGHT against +23.9% for ZM). One caveat on sizing: EGHT is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
EGHT vs ZM: side by side
| EGHT (8x8 Inc) | ZM (Zoom Communications, Inc.) | |
|---|---|---|
| 1-year return | +5.2% | +23.9% |
| 5-year return | -91.6% | -71.1% |
| Volatility (ann.) | 80.2% | 35.5% |
| Beta vs S&P 500 | 2.07 | 0.96 |
| Max drawdown (3Y) | -59.5% | -25.9% |
| Market cap | $0.3B | $29.3B |
| P/E (trailing) | 67.0 | 9.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EGHT | ZM |
|---|---|---|
| 2022 | -74.2% | -63.2% |
| 2023 | -12.5% | +6.2% |
| 2024 | -29.4% | +13.5% |
| 2025 | -26.2% | +5.7% |
| 2026 | +2.0% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGHT and ZM good diversifiers for each other?
Reasonably. At 0.49, EGHT and ZM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EGHT and ZM?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.42 over the last year and 0.47 over 5 years.
Is ZM a good diversifier for EGHT?
Reasonably. At 0.49, EGHT and ZM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eght-vs-zm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eght-vs-zm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EGHT correlations · ZM correlations
