BLZE vs PLNT: Correlation
Measured on weekly returns over the past three years, Backblaze, Inc. (BLZE) and Planet Fitness, Inc. (PLNT) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLZE and PLNT?
On 3 years of weekly data the BLZE/PLNT correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.49) runs below the 3-year figure (-0.31). The 5-year figure is -0.09, and annualized covariance runs at -1128.0 %².
PLNT is close to the least connected end of BLZE's tracked universe, ranking #20 of 20. Correlation aside, the last 12 months split them widely, with BLZE ahead by 137.0 points (+85.9% versus -51.1%). Risk is not evenly split, since BLZE carries 2.4 times the volatility of the other side.
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.
BLZE vs PLNT: side by side
| BLZE (Backblaze, Inc.) | PLNT (Planet Fitness, Inc.) | |
|---|---|---|
| 1-year return | +85.9% | -51.1% |
| 5-year return | -23.4% | -36.6% |
| Volatility (ann.) | 92.9% | 39.0% |
| Beta vs S&P 500 | 1.92 | 0.42 |
| Max drawdown (3Y) | -72.0% | -61.2% |
| Market cap | $0.9B | $3.9B |
| P/E (trailing) | – | 17.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLZE | PLNT |
|---|---|---|
| 2022 | -63.6% | -13.0% |
| 2023 | +23.4% | -7.4% |
| 2024 | -20.7% | +35.4% |
| 2025 | -22.6% | +9.7% |
| 2026 | +227.0% | -52.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLZE and PLNT good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between BLZE and PLNT?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.49 over the last year and -0.09 over 5 years.
Is PLNT a good diversifier for BLZE?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/blze-vs-plnt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/blze-vs-plnt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BLZE correlations · PLNT correlations
