LAW vs. BLZE

Last updated Jul 11, 2026

LAW (CS Disco, Inc.) and BLZE (Backblaze, Inc.) are both stocks. Both are in the Technology sector — LAW in Software - Application, BLZE in Software - Infrastructure. Over the past 3 years, LAW returned -24.56%/yr vs 48.36%/yr for BLZE. At a 0.42 correlation, their price movements are largely independent.

Performance

LAW vs. BLZE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CS Disco, Inc. (LAW) and Backblaze, Inc. (BLZE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LAW achieves a -50.26% return, which is significantly lower than BLZE's 277.68% return.

LAW

• 1D: -2.03%
• 1M: 7.82%
• 6M: -47.70%
• YTD: -50.26%
• 1Y: -5.39%
• 3Y*: -24.56%
• 5Y*: —
• 10Y*: —

BLZE

• 1D: -1.29%
• 1M: 122.22%
• 6M: 252.00%
• YTD: 277.68%
• 1Y: 241.09%
• 3Y*: 48.36%
• 5Y*: —
• 10Y*: —

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

LAW vs. BLZE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LAW CS Disco, Inc.	-50.26%	55.51%	-34.26%	20.09%	-82.32%	-29.38%
BLZE Backblaze, Inc.	277.68%	-22.59%	-20.69%	23.41%	-63.59%	-11.11%

Correlation

The correlation between LAW and BLZE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Nov 11, 2021	0.42

Fundamentals

Market Cap LAW : $247.56M BLZE : $1.06B
EPS LAW : -$0.68 BLZE : -$0.39
PS Ratio LAW : 1.50 BLZE : 6.75
PB Ratio LAW : 1.98 BLZE : 12.33
Total Revenue (TTM) LAW : $162.08M BLZE : $149.89M
Gross Profit (TTM) LAW : $121.36M BLZE : $93.07M
EBITDA (TTM) LAW : -$38.08M BLZE : -$899.00K

Return for Risk

LAW vs. BLZE — Risk / Return Rank

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

LAW

LAW Risk / Return Rank: 42
LAW Sharpe Ratio Rank: 40
LAW Sortino Ratio Rank: 44
LAW Omega Ratio Rank: 44
LAW Calmar Ratio Rank: 41
LAW Martin Ratio Rank: 41

BLZE

BLZE Risk / Return Rank: 90
BLZE Sharpe Ratio Rank: 93
BLZE Sortino Ratio Rank: 94
BLZE Omega Ratio Rank: 95
BLZE Calmar Ratio Rank: 88
BLZE Martin Ratio Rank: 81

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.

LAW vs. BLZE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CS Disco, Inc. (LAW) and Backblaze, Inc. (BLZE). 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.

	LAW	BLZE	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	2.22	-2.35
Sortino ratio: Return per unit of downside risk	0.35	3.40	-3.05
Omega ratio: Gain probability vs. loss probability	1.05	1.51	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.14	3.33	-3.47
Martin ratio: Return relative to average drawdown	-0.25	5.36	-5.60

LAW vs. BLZE - Sharpe Ratio Comparison

The current LAW Sharpe Ratio is -0.13, which is lower than the BLZE Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of LAW and BLZE, 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

LAW vs. BLZE - Drawdown Comparison

The maximum LAW drawdown since its inception was -95.81%, which is greater than BLZE's maximum drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for LAW and BLZE.

Drawdown Indicators

	LAW	BLZE	Difference
Max Drawdown Largest peak-to-trough decline	-95.81%	-89.49%	-6.32%
Max Drawdown (1Y) Largest decline over 1 year	-69.02%	-69.21%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-74.06%	-72.02%	-2.04%
Current Drawdown Current decline from peak	-94.14%	-44.13%	-50.01%
Average Drawdown Average peak-to-trough decline	-79.88%	-77.19%	-2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.95%	42.95%	-5.00%

Volatility

LAW vs. BLZE - Volatility Comparison

The current volatility for CS Disco, Inc. (LAW) is 12.79%, while Backblaze, Inc. (BLZE) has a volatility of 37.79%. This indicates that LAW experiences smaller price fluctuations and is considered to be less risky than BLZE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LAW	BLZE	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.79%	37.79%	-25.00%
Volatility (6M) Calculated over the trailing 6-month period	67.31%	73.64%	-6.33%
Volatility (1Y) Calculated over the trailing 1-year period	75.15%	103.74%	-28.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.58%	84.72%	-11.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.58%	84.72%	-11.14%

Dividends

LAW vs. BLZE - Dividend Comparison

Neither LAW nor BLZE has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

LAW vs. BLZE - Profitability Comparison

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

LAW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, CS Disco, Inc. reported a gross profit of 31.08M and revenue of 41.88M. Therefore, the gross margin over that period was 74.2%.

BLZE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.

LAW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, CS Disco, Inc. reported an operating income of -10.09M and revenue of 41.88M, resulting in an operating margin of -24.1%.

BLZE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Backblaze, Inc. reported an operating income of -5.35M and revenue of 38.67M, resulting in an operating margin of -13.8%.

LAW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, CS Disco, Inc. reported a net income of -9.62M and revenue of 41.88M, resulting in a net margin of -23.0%.

BLZE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Backblaze, Inc. reported a net income of -6.15M and revenue of 38.67M, resulting in a net margin of -15.9%.

Frequently Asked Questions

Can I hold both LAW and BLZE in my portfolio?

LAW and BLZE have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LAW or BLZE?

BLZE has higher volatility (37.79%) compared to LAW (12.79%). In terms of maximum drawdown, LAW dropped -95.81% vs BLZE's -89.49%.

Which has better risk-adjusted returns?

BLZE currently has the higher Sharpe Ratio (2.22 vs -0.13), 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.