BLDP vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Ballard Power Systems Inc. (BLDP) and S&P 500 Index (^GSPC).

Performance

BLDP vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ballard Power Systems Inc. (BLDP) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

BLDP vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BLDP Ballard Power Systems Inc.	-5.12%	53.01%	-55.14%	-22.76%	-61.86%	-46.32%	225.91%	200.42%	-45.80%	167.27%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, BLDP achieves a -5.12% return, which is significantly lower than ^GSPC's -3.95% return. Over the past 10 years, BLDP has underperformed ^GSPC with an annualized return of 5.66%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

BLDP

• 1D: -0.41%
• 1M: 11.57%
• YTD: -5.12%
• 6M: -18.58%
• 1Y: 115.18%
• 3Y*: -24.37%
• 5Y*: -36.93%
• 10Y*: 5.66%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

BLDP vs. ^GSPC — Risk / Return Rank

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

BLDP

BLDP Risk / Return Rank: 81
BLDP Sharpe Ratio Rank: 86
BLDP Sortino Ratio Rank: 85
BLDP Omega Ratio Rank: 80
BLDP Calmar Ratio Rank: 80
BLDP Martin Ratio Rank: 76

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

BLDP vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ballard Power Systems Inc. (BLDP) and S&P 500 Index (^GSPC). 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.

	BLDP	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.64	0.92	+0.73
Sortino ratio Return per unit of downside risk	2.46	1.41	+1.05
Omega ratio Gain probability vs. loss probability	1.29	1.21	+0.07
Calmar ratio Return relative to maximum drawdown	2.36	1.41	+0.94
Martin ratio Return relative to average drawdown	4.95	6.61	-1.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLDP vs. ^GSPC - Sharpe Ratio Comparison

The current BLDP Sharpe Ratio is 1.64, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of BLDP and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BLDP	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	0.92	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.56	0.61	-1.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.68	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.46	-0.48

Correlation

The correlation between BLDP and ^GSPC is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

BLDP vs. ^GSPC - Drawdown Comparison

The maximum BLDP drawdown since its inception was -99.55%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for BLDP and ^GSPC.

Drawdown Indicators

	BLDP	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-99.55%	-56.78%	-42.77%
Max Drawdown (1Y) Largest decline over 1 year	-50.50%	-12.14%	-38.36%
Max Drawdown (5Y) Largest decline over 5 years	-95.88%	-25.43%	-70.45%
Max Drawdown (10Y) Largest decline over 10 years	-97.51%	-33.92%	-63.59%
Current Drawdown Current decline from peak	-98.18%	-5.78%	-92.40%
Average Drawdown Average peak-to-trough decline	-82.12%	-10.75%	-71.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.06%	2.60%	+21.46%

Volatility

BLDP vs. ^GSPC - Volatility Comparison

Ballard Power Systems Inc. (BLDP) has a higher volatility of 21.62% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that BLDP's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLDP	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.62%	5.37%	+16.25%
Volatility (6M) Calculated over the trailing 6-month period	48.00%	9.55%	+38.45%
Volatility (1Y) Calculated over the trailing 1-year period	70.50%	18.33%	+52.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.31%	16.90%	+49.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.97%	18.05%	+50.92%