BLZE vs WKSP: Correlation
Measured on weekly returns over the past three years, Backblaze, Inc. (BLZE) and Worksport, Ltd. (WKSP) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLZE and WKSP?
Across a 3-year window, the weekly returns of BLZE and WKSP correlate at 0.38, moderate. The link has tightened recently: the 1-year correlation (0.56) runs above the 3-year figure (0.38). Stretching to 5 years gives 0.30, with an annualized covariance of 3876.8 %².
Among the 20 assets we track against BLZE, WKSP ranks #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BLZE ahead by 165.4 points (+85.9% versus -79.5%).
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 WKSP: side by side
| BLZE (Backblaze, Inc.) | WKSP (Worksport, Ltd.) | |
|---|---|---|
| 1-year return | +85.9% | -79.5% |
| 5-year return | -23.4% | -98.8% |
| Volatility (ann.) | 92.9% | 108.8% |
| Beta vs S&P 500 | 1.92 | 1.80 |
| Max drawdown (3Y) | -72.0% | -98.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLZE | WKSP |
|---|---|---|
| 2022 | -63.6% | -58.9% |
| 2023 | +23.4% | +49.7% |
| 2024 | -20.7% | -38.3% |
| 2025 | -22.6% | -76.8% |
| 2026 | +227.0% | -70.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLZE and WKSP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BLZE and WKSP?
As of 2026-08-27, the correlation of weekly returns between BLZE and WKSP is 0.38 over 3 years, 0.56 over 1 year and 0.30 over 5 years.
Is WKSP a good diversifier for BLZE?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
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Related comparisons
Hubs: BLZE correlations · WKSP correlations
