BL vs BLND: Correlation
Measured on weekly returns over the past three years, BlackLine, Inc. (BL) and Blend Labs, Inc. (BLND) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BL and BLND?
Across a 3-year window, the weekly returns of BL and BLND correlate at 0.49, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.60 versus 0.49 over 3 years. Stretching to 5 years gives 0.38, with an annualized covariance of 1521.2 %².
Among the 15 assets we track against BL, BLND ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BL ahead by 18.9 points (-38.3% versus -57.2%). One caveat on sizing: BLND is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BL vs BLND: side by side
| BL (BlackLine, Inc.) | BLND (Blend Labs, Inc.) | |
|---|---|---|
| 1-year return | -38.3% | -57.2% |
| 5-year return | -69.6% | -90.5% |
| Volatility (ann.) | 40.7% | 75.5% |
| Beta vs S&P 500 | 0.83 | 1.32 |
| Max drawdown (3Y) | -63.2% | -74.2% |
| Market cap | $2.0B | $0.4B |
| P/E (trailing) | 60.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BL | BLND |
|---|---|---|
| 2022 | -35.0% | -80.4% |
| 2023 | -7.2% | +77.1% |
| 2024 | -2.7% | +65.1% |
| 2025 | -9.0% | -27.8% |
| 2026 | -39.0% | -49.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BL and BLND good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BL and BLND?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.60 over the last year and 0.38 over 5 years.
Is BLND a good diversifier for BL?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bl-vs-blnd.json
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Related comparisons
Hubs: BL correlations · BLND correlations
