BLDP vs. APD
BLDP (Ballard Power Systems Inc.) and APD (Air Products and Chemicals, Inc.) are both stocks. BLDP operates in Specialty Industrial Machinery (Industrials), while APD operates in Chemicals (Basic Materials). Over the past 10 years, BLDP returned 11.75%/yr vs 9.60%/yr for APD. At a 0.24 correlation, their price movements are largely independent.
Performance
BLDP vs. APD - Performance Comparison
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Returns By Period
In the year-to-date period, BLDP achieves a 66.14% return, which is significantly higher than APD's 15.56% return. Over the past 10 years, BLDP has outperformed APD with an annualized return of 11.75%, while APD has yielded a comparatively lower 9.60% annualized return.
BLDP
- 1D
- 0.24%
- 1M
- -5.17%
- YTD
- 66.14%
- 6M
- 55.15%
- 1Y
- 157.32%
- 3Y*
- -7.55%
- 5Y*
- -25.36%
- 10Y*
- 11.75%
APD
- 1D
- 1.26%
- 1M
- -4.66%
- YTD
- 15.56%
- 6M
- 17.47%
- 1Y
- 3.14%
- 3Y*
- 2.22%
- 5Y*
- 1.21%
- 10Y*
- 9.60%
BLDP vs. APD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BLDP Ballard Power Systems Inc. | 66.14% | 53.01% | -55.14% | -22.76% | -61.86% | -46.32% | 225.91% | 200.42% | -45.80% | 167.27% |
APD Air Products and Chemicals, Inc. | 15.56% | -12.66% | 8.09% | -8.95% | 3.91% | 13.75% | 18.82% | 50.02% | 0.26% | 17.04% |
Correlation
The correlation between BLDP and APD is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 1995 | 0.24 |
The correlation between BLDP and APD shifts across timeframes, from 0.11 (1 year) to 0.29 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
BLDP:
$1.27B
APD:
$62.77B
BLDP:
-$0.27
APD:
$9.45
BLDP:
12.20
APD:
5.04
BLDP:
2.19
APD:
4.01
BLDP:
$103.13M
APD:
$12.46B
BLDP:
$11.79M
APD:
$3.99B
BLDP:
-$77.20M
APD:
$4.36B
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Return for Risk
BLDP vs. APD — Risk / Return Rank
BLDP
APD
BLDP vs. APD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ballard Power Systems Inc. (BLDP) and Air Products and Chemicals, Inc. (APD). 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.
| BLDP | APD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.04 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 0.09 | +2.95 |
| Martin ratioReturn relative to average drawdown | 5.98 | 0.23 | +5.75 |
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Drawdowns
BLDP vs. APD - Drawdown Comparison
The maximum BLDP drawdown since its inception was -99.55%, which is greater than APD's maximum drawdown of -60.30%. Use the drawdown chart below to compare losses from any high point for BLDP and APD.
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Drawdown Indicators
| BLDP | APD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.55% | -60.30% | -39.25% |
Max Drawdown (1Y)Largest decline over 1 year | -50.50% | -22.39% | -28.11% |
Max Drawdown (3Y)Largest decline over 3 years | -78.88% | -30.43% | -48.45% |
Max Drawdown (5Y)Largest decline over 5 years | -94.73% | -31.77% | -62.96% |
Max Drawdown (10Y)Largest decline over 10 years | -97.51% | -31.77% | -65.74% |
Current DrawdownCurrent decline from peak | -96.81% | -13.94% | -82.87% |
Average DrawdownAverage peak-to-trough decline | -82.21% | -11.05% | -71.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.64% | 8.96% | +16.68% |
Volatility
BLDP vs. APD - Volatility Comparison
Ballard Power Systems Inc. (BLDP) has a higher volatility of 34.35% compared to Air Products and Chemicals, Inc. (APD) at 5.42%. This indicates that BLDP's price experiences larger fluctuations and is considered to be riskier than APD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLDP | APD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.35% | 5.42% | +28.93% |
Volatility (6M)Calculated over the trailing 6-month period | 60.88% | 16.03% | +44.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.21% | 24.82% | +59.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.23% | 26.03% | +43.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.89% | 25.91% | +44.98% |
Dividends
BLDP vs. APD - Dividend Comparison
BLDP has not paid dividends to shareholders, while APD's dividend yield for the trailing twelve months is around 2.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APD Air Products and Chemicals, Inc. | 2.55% | 2.89% | 1.83% | 2.56% | 2.10% | 1.97% | 1.96% | 1.97% | 2.75% | 2.32% | 2.39% | 2.49% |
BLDP Ballard Power Systems Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
BLDP vs. APD - Financials Comparison
This section allows you to compare key financial metrics between Ballard Power Systems Inc. and Air Products and Chemicals, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BLDP vs. APD - Profitability Comparison
BLDP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ballard Power Systems Inc. reported a gross profit of 2.72M and revenue of 19.15M. Therefore, the gross margin over that period was 14.2%.
APD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Air Products and Chemicals, Inc. reported a gross profit of 987.40M and revenue of 3.17B. Therefore, the gross margin over that period was 31.1%.
BLDP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ballard Power Systems Inc. reported an operating income of -12.89M and revenue of 19.15M, resulting in an operating margin of -67.3%.
APD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Air Products and Chemicals, Inc. reported an operating income of 752.70M and revenue of 3.17B, resulting in an operating margin of 23.7%.
BLDP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ballard Power Systems Inc. reported a net income of -11.23M and revenue of 19.15M, resulting in a net margin of -58.7%.
APD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Air Products and Chemicals, Inc. reported a net income of 710.40M and revenue of 3.17B, resulting in a net margin of 22.4%.
Frequently Asked Questions
BLDP and APD have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BLDP has higher volatility (34.35%) compared to APD (5.42%). In terms of maximum drawdown, BLDP dropped -99.55% vs APD's -60.30%.
BLDP currently has the higher Sharpe Ratio (1.82 vs 0.08), 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.
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