BL vs. BLND

Last updated Jun 13, 2026

BL (BlackLine, Inc.) and BLND (Blend Labs, Inc.) are both stocks. Both are in the Technology sector — BL in Software - Infrastructure, BLND in Software - Application. Over the past 3 years, BL returned -19.03%/yr vs 16.10%/yr for BLND. At a 0.43 correlation, their price movements are largely independent.

Performance

BL vs. BLND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackLine, Inc. (BL) and Blend Labs, Inc. (BLND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BL achieves a -48.04% return, which is significantly lower than BLND's -44.41% return.

BL

• 1D: 2.86%
• 1M: 13.87%
• YTD: -48.04%
• 6M: -51.03%
• 1Y: -48.48%
• 3Y*: -19.03%
• 5Y*: -22.99%
• 10Y*: —

BLND

• 1D: -3.43%
• 1M: 15.75%
• YTD: -44.41%
• 6M: -46.01%
• 1Y: -51.85%
• 3Y*: 16.10%
• 5Y*: —
• 10Y*: —

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

BL vs. BLND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BL BlackLine, Inc.	-48.04%	-9.00%	-2.69%	-7.18%	-35.03%	-5.38%
BLND Blend Labs, Inc.	-44.41%	-27.79%	65.10%	77.08%	-80.38%	-63.30%

Correlation

The correlation between BL and BLND is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021	0.43

Fundamentals

Market Cap BL : $2.01B BLND : $432.01M
EPS BL : $0.39 BLND : -$0.04
PS Ratio BL : 2.70 BLND : 3.45
Total Revenue (TTM) BL : $716.65M BLND : $127.59M
Gross Profit (TTM) BL : $539.92M BLND : $95.50M
EBITDA (TTM) BL : $87.84M BLND : -$16.09M

Return for Risk

BL vs. BLND — Risk / Return Rank

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

BL

BL Risk / Return Rank: 6
BL Sharpe Ratio Rank: 4
BL Sortino Ratio Rank: 6
BL Omega Ratio Rank: 6
BL Calmar Ratio Rank: 9
BL Martin Ratio Rank: 2

BLND

BLND Risk / Return Rank: 14
BLND Sharpe Ratio Rank: 12
BLND Sortino Ratio Rank: 14
BLND Omega Ratio Rank: 15
BLND Calmar Ratio Rank: 14
BLND Martin Ratio Rank: 14

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.

BL vs. BLND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackLine, Inc. (BL) and Blend Labs, Inc. (BLND). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BL	BLND	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	-0.73	-0.32
Sortino ratio: Return per unit of downside risk	-1.53	-0.87	-0.66
Omega ratio: Gain probability vs. loss probability	0.81	0.89	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.85	-0.76	-0.09
Martin ratio: Return relative to average drawdown	-1.81	-1.25	-0.56

BL vs. BLND - Sharpe Ratio Comparison

The current BL Sharpe Ratio is -1.04, which is lower than the BLND Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of BL and BLND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BL vs. BLND - Drawdown Comparison

The maximum BL drawdown since its inception was -83.22%, smaller than the maximum BLND drawdown of -97.37%. Use the drawdown chart below to compare losses from any high point for BL and BLND.

Drawdown Indicators

	BL	BLND	Difference
Max Drawdown Largest peak-to-trough decline	-83.22%	-97.37%	+14.15%
Max Drawdown (1Y) Largest decline over 1 year	-57.11%	-68.42%	+11.31%
Max Drawdown (3Y) Largest decline over 3 years	-63.25%	-74.21%	+10.96%
Max Drawdown (5Y) Largest decline over 5 years	-80.80%	—	—
Current Drawdown Current decline from peak	-80.89%	-91.91%	+11.02%
Average Drawdown Average peak-to-trough decline	-35.17%	-81.07%	+45.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.79%	41.53%	-14.74%

Volatility

BL vs. BLND - Volatility Comparison

The current volatility for BlackLine, Inc. (BL) is 19.95%, while Blend Labs, Inc. (BLND) has a volatility of 23.76%. This indicates that BL experiences smaller price fluctuations and is considered to be less risky than BLND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BL	BLND	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.95%	23.76%	-3.81%
Volatility (6M) Calculated over the trailing 6-month period	41.65%	54.66%	-13.01%
Volatility (1Y) Calculated over the trailing 1-year period	46.61%	71.73%	-25.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.70%	84.34%	-39.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.85%	84.34%	-39.49%

Dividends

BL vs. BLND - Dividend Comparison

Neither BL nor BLND has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

BL vs. BLND - Profitability Comparison

The chart below illustrates the profitability comparison between BlackLine, Inc. and Blend Labs, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BlackLine, Inc. reported a gross profit of 139.15M and revenue of 183.16M. Therefore, the gross margin over that period was 76.0%.

BLND - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Blend Labs, Inc. reported a gross profit of 23.37M and revenue of 30.84M. Therefore, the gross margin over that period was 75.8%.

BL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BlackLine, Inc. reported an operating income of 6.24M and revenue of 183.16M, resulting in an operating margin of 3.4%.

BLND - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Blend Labs, Inc. reported an operating income of -5.06M and revenue of 30.84M, resulting in an operating margin of -16.4%.

BL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BlackLine, Inc. reported a net income of 8.13M and revenue of 183.16M, resulting in a net margin of 4.4%.

BLND - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Blend Labs, Inc. reported a net income of -12.78M and revenue of 30.84M, resulting in a net margin of -41.4%.

Frequently Asked Questions

Can I hold both BL and BLND in my portfolio?

BL and BLND have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BL or BLND?

BLND has higher volatility (23.76%) compared to BL (19.95%). In terms of maximum drawdown, BL dropped -83.22% vs BLND's -97.37%.

Which has better risk-adjusted returns?

BLND currently has the higher Sharpe Ratio (-0.73 vs -1.04), 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.