S vs ZS: Correlation
SentinelOne, Inc. (S) and Zscaler, Inc. (ZS) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are S and ZS?
Across a 3-year window, the weekly returns of S and ZS correlate at 0.60, strong. The past 12 months show a tighter link (0.79) than the 3-year average (0.60). Stretching to 5 years gives 0.61, with an annualized covariance of 1329.8 %².
In S's tracked universe of 18 assets, ZS sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months S outperformed by 63.8 percentage points (+32.4% for S against -31.4% for ZS).
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.
S vs ZS: side by side
| S (SentinelOne, Inc.) | ZS (Zscaler, Inc.) | |
|---|---|---|
| 1-year return | +32.4% | -31.4% |
| 5-year return | -65.2% | -32.7% |
| Volatility (ann.) | 48.4% | 45.7% |
| Beta vs S&P 500 | 1.43 | 1.47 |
| Max drawdown (3Y) | -60.2% | -64.9% |
| Market cap | $7.8B | $30.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | S | ZS |
|---|---|---|
| 2022 | -71.1% | -65.2% |
| 2023 | +88.1% | +98.0% |
| 2024 | -19.1% | -18.6% |
| 2025 | -32.4% | +24.7% |
| 2026 | +51.4% | -16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are S and ZS good diversifiers for each other?
Only partially. A correlation of 0.60 means S and ZS 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 S and ZS?
As of 2026-08-27, the correlation of weekly returns between S and ZS is 0.60 over 3 years, 0.79 over 1 year and 0.61 over 5 years.
Is ZS a good diversifier for S?
Only partially. A correlation of 0.60 means S and ZS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/s-vs-zs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/s-vs-zs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: S correlations · ZS correlations
