RNG vs ZM: Correlation
How closely do RingCentral, Inc. (RNG) and Zoom Communications, Inc. (ZM) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RNG and ZM?
Over the past 3 years, RNG and ZM moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 996.5 %².
ZM is one of the assets that tracks RNG most closely: it ranks #2 out of the 16 assets we track against RNG. Their recent paths diverged sharply: over the last 12 months RNG outperformed by 100.4 percentage points (+124.3% for RNG against +23.9% for ZM).
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.
RNG vs ZM: side by side
| RNG (RingCentral, Inc.) | ZM (Zoom Communications, Inc.) | |
|---|---|---|
| 1-year return | +124.3% | +23.9% |
| 5-year return | -73.1% | -71.1% |
| Volatility (ann.) | 52.2% | 35.5% |
| Beta vs S&P 500 | 1.54 | 0.96 |
| Max drawdown (3Y) | -48.6% | -25.9% |
| Market cap | $5.7B | $29.3B |
| P/E (trailing) | 52.7 | 9.3 |
| Dividend yield | 0.23% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RNG | ZM |
|---|---|---|
| 2022 | -81.1% | -63.2% |
| 2023 | -4.1% | +6.2% |
| 2024 | +3.1% | +13.5% |
| 2025 | -17.5% | +5.7% |
| 2026 | +138.6% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RNG and ZM good diversifiers for each other?
Only partially. A correlation of 0.54 means RNG and ZM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between RNG and ZM?
The RNG/ZM correlation stands at 0.54 on a 3-year window (1 year: 0.55, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is ZM a good diversifier for RNG?
Only partially. A correlation of 0.54 means RNG and ZM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rng-vs-zm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rng-vs-zm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RNG correlations · ZM correlations
