BKSY vs. SPIR

Last updated Jun 3, 2026

BKSY (BlackSky Technology Inc.) and SPIR (Spire Global, Inc.) are both stocks. BKSY operates in Scientific & Technical Instruments (Technology), while SPIR operates in Specialty Business Services (Industrials). Over the past 5 years, BKSY returned -11.23%/yr vs -23.13%/yr for SPIR. At a 0.41 correlation, their price movements are largely independent.

Performance

BKSY vs. SPIR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackSky Technology Inc. (BKSY) and Spire Global, Inc. (SPIR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKSY achieves a 134.19% return, which is significantly lower than SPIR's 184.67% return.

BKSY

• 1D: 3.61%
• 1M: 23.52%
• YTD: 134.19%
• 6M: 158.75%
• 1Y: 291.35%
• 3Y*: 51.45%
• 5Y*: -11.23%
• 10Y*: —

SPIR

• 1D: 3.84%
• 1M: 17.44%
• YTD: 184.67%
• 6M: 171.97%
• 1Y: 92.86%
• 3Y*: 55.53%
• 5Y*: -23.13%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BKSY vs. SPIR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKSY BlackSky Technology Inc.	134.19%	73.77%	-3.66%	-9.09%	-65.70%	-57.12%	5.76%
SPIR Spire Global, Inc.	184.67%	-46.70%	79.92%	1.82%	-71.60%	-66.23%	3.20%

Correlation

The correlation between BKSY and SPIR is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Nov 4, 2020	0.41

Over the past year, BKSY and SPIR have become more correlated (0.65) than their long-term average of 0.41, meaning their price movements have been converging.

Fundamentals

Market Cap BKSY : $1.59B SPIR : $710.31B
EPS BKSY : -$2.51 SPIR : -$3.07
PS Ratio BKSY : 15.57 SPIR : 22.25
PB Ratio BKSY : 19.65 SPIR : 7.79
Total Revenue (TTM) BKSY : $97.81M SPIR : $15.88B
Gross Profit (TTM) BKSY : $23.99M SPIR : $6.33B
EBITDA (TTM) BKSY : -$13.55M SPIR : -$24.64B

Return for Risk

BKSY vs. SPIR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BKSY

BKSY Risk / Return Rank: 88
BKSY Sharpe Ratio Rank: 93
BKSY Sortino Ratio Rank: 86
BKSY Omega Ratio Rank: 84
BKSY Calmar Ratio Rank: 91
BKSY Martin Ratio Rank: 88

SPIR

SPIR Risk / Return Rank: 71
SPIR Sharpe Ratio Rank: 69
SPIR Sortino Ratio Rank: 72
SPIR Omega Ratio Rank: 69
SPIR Calmar Ratio Rank: 75
SPIR Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BKSY vs. SPIR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackSky Technology Inc. (BKSY) and Spire Global, Inc. (SPIR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BKSY	SPIR	Difference
Sharpe ratio Return per unit of total volatility	2.79	0.94	+1.85
Sortino ratio Return per unit of downside risk	2.83	1.84	+0.99
Omega ratio Gain probability vs. loss probability	1.35	1.23	+0.12
Calmar ratio Return relative to maximum drawdown	5.00	2.11	+2.89
Martin ratio Return relative to average drawdown	10.36	4.26	+6.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKSY vs. SPIR - Sharpe Ratio Comparison

The current BKSY Sharpe Ratio is 2.79, which is higher than the SPIR Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of BKSY and SPIR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BKSY	SPIR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.79	0.94	+1.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	-0.24	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	-0.22	+0.13

Drawdowns

BKSY vs. SPIR - Drawdown Comparison

The maximum BKSY drawdown since its inception was -96.61%, roughly equal to the maximum SPIR drawdown of -97.74%. Use the drawdown chart below to compare losses from any high point for BKSY and SPIR.

Drawdown Indicators

	BKSY	SPIR	Difference
Max Drawdown Largest peak-to-trough decline	-96.61%	-97.74%	+1.13%
Max Drawdown (1Y) Largest decline over 1 year	-58.46%	-50.04%	-8.42%
Max Drawdown (3Y) Largest decline over 3 years	-77.14%	-66.22%	-10.92%
Max Drawdown (5Y) Largest decline over 5 years	-96.04%	-97.74%	+1.70%
Current Drawdown Current decline from peak	-63.38%	-85.54%	+22.16%
Average Drawdown Average peak-to-trough decline	-65.12%	-77.94%	+12.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.23%	24.82%	+3.41%

Volatility

BKSY vs. SPIR - Volatility Comparison

BlackSky Technology Inc. (BKSY) has a higher volatility of 41.48% compared to Spire Global, Inc. (SPIR) at 34.78%. This indicates that BKSY's price experiences larger fluctuations and is considered to be riskier than SPIR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKSY	SPIR	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.48%	34.78%	+6.70%
Volatility (6M) Calculated over the trailing 6-month period	79.17%	80.25%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	105.36%	99.68%	+5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	98.60%	97.38%	+1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.24%	92.39%	-4.15%

Dividends

BKSY vs. SPIR - Dividend Comparison

Neither BKSY nor SPIR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both BKSY and SPIR in my portfolio?

BKSY and SPIR have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKSY or SPIR?

BKSY has higher volatility (41.48%) compared to SPIR (34.78%). In terms of maximum drawdown, BKSY dropped -96.61% vs SPIR's -97.74%.

Which has better risk-adjusted returns?

BKSY currently has the higher Sharpe Ratio (2.79 vs 0.94), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.