BLZE vs. APLD
BLZE (Backblaze, Inc.) and APLD (Applied Digital Corporation) are both stocks. Both are in the Technology sector — BLZE in Software - Infrastructure, APLD in Information Technology Services. Over the past 3 years, BLZE returned 40.78%/yr vs 73.13%/yr for APLD. At a 0.24 correlation, their price movements are largely independent.
Performance
BLZE vs. APLD - Performance Comparison
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Returns By Period
In the year-to-date period, BLZE achieves a 156.87% return, which is significantly higher than APLD's 71.21% return.
BLZE
- 1D
- 2.66%
- 1M
- 56.06%
- YTD
- 156.87%
- 6M
- 149.37%
- 1Y
- 120.04%
- 3Y*
- 40.78%
- 5Y*
- —
- 10Y*
- —
APLD
- 1D
- -7.27%
- 1M
- -8.48%
- YTD
- 71.21%
- 6M
- 63.22%
- 1Y
- 306.78%
- 3Y*
- 73.13%
- 5Y*
- 90.57%
- 10Y*
- 126.14%
BLZE vs. APLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BLZE Backblaze, Inc. | 156.87% | -22.59% | -20.69% | 23.41% | -63.59% | -11.11% |
APLD Applied Digital Corporation | 71.21% | 220.94% | 13.35% | 266.30% | -56.09% | 2.20% |
Correlation
The correlation between BLZE and APLD is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2021 | 0.24 |
Fundamentals
BLZE:
$709.70M
APLD:
$11.40B
BLZE:
-$0.39
APLD:
-$0.72
BLZE:
4.55
APLD:
28.45
BLZE:
8.38
APLD:
7.24
BLZE:
$149.89M
APLD:
$390.57M
BLZE:
$93.07M
APLD:
$124.93M
BLZE:
-$899.00K
APLD:
-$154.66M
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Return for Risk
BLZE vs. APLD — Risk / Return Rank
BLZE
APLD
BLZE vs. APLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Backblaze, Inc. (BLZE) and Applied Digital Corporation (APLD). 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.
| BLZE | APLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 6.14 | -4.40 |
| Martin ratioReturn relative to average drawdown | 2.80 | 15.08 | -12.27 |
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Drawdowns
BLZE vs. APLD - Drawdown Comparison
The maximum BLZE drawdown since its inception was -89.49%, smaller than the maximum APLD drawdown of -99.73%. Use the drawdown chart below to compare losses from any high point for BLZE and APLD.
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Drawdown Indicators
| BLZE | APLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.49% | -99.73% | +10.24% |
Max Drawdown (1Y)Largest decline over 1 year | -69.21% | -50.31% | -18.90% |
Max Drawdown (3Y)Largest decline over 3 years | -72.02% | -76.66% | +4.64% |
Max Drawdown (5Y)Largest decline over 5 years | — | -82.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.80% | — |
Current DrawdownCurrent decline from peak | -62.00% | -15.45% | -46.55% |
Average DrawdownAverage peak-to-trough decline | -77.45% | -74.75% | -2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.98% | 20.46% | +22.52% |
Volatility
BLZE vs. APLD - Volatility Comparison
Backblaze, Inc. (BLZE) has a higher volatility of 41.60% compared to Applied Digital Corporation (APLD) at 23.44%. This indicates that BLZE's price experiences larger fluctuations and is considered to be riskier than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLZE | APLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 41.60% | 23.44% | +18.16% |
Volatility (6M)Calculated over the trailing 6-month period | 71.82% | 75.61% | -3.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 102.38% | 106.75% | -4.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.62% | 165.01% | -80.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 84.62% | 301.57% | -216.95% |
Dividends
BLZE vs. APLD - Dividend Comparison
Neither BLZE nor APLD has paid dividends to shareholders.
Financials
BLZE vs. APLD - Financials Comparison
This section allows you to compare key financial metrics between Backblaze, Inc. and Applied Digital Corporation. 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
BLZE vs. APLD - Profitability Comparison
BLZE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Backblaze, Inc. reported a gross profit of 23.53M and revenue of 38.67M. Therefore, the gross margin over that period was 60.9%.
APLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a gross profit of 82.52M and revenue of 161.76M. Therefore, the gross margin over that period was 51.0%.
BLZE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Backblaze, Inc. reported an operating income of -5.35M and revenue of 38.67M, resulting in an operating margin of -13.8%.
APLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported an operating income of -62.13M and revenue of 161.76M, resulting in an operating margin of -38.4%.
BLZE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Backblaze, Inc. reported a net income of -6.15M and revenue of 38.67M, resulting in a net margin of -15.9%.
APLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a net income of -104.11M and revenue of 161.76M, resulting in a net margin of -64.4%.
Frequently Asked Questions
BLZE and APLD have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BLZE has higher volatility (41.60%) compared to APLD (23.44%). In terms of maximum drawdown, BLZE dropped -89.49% vs APLD's -99.73%.
APLD currently has the higher Sharpe Ratio (2.90 vs 1.18), 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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