balloon flower vs wildflower

balloon flower and wildflower both are nouns.

Word	Noun	Adjective	Verb	Adverb
balloon flower	Yes	No	No	No
wildflower	Yes	No	No	No

As nouns, wildflower is a hypernym of balloon flower; that is, wildflower is a word with a broader meaning than balloon flower:

balloon flower: fragrant puffed-up white to reddish-pink flowers in long narrow clusters on erect stems; Arizona to New Mexico and Utah
wildflower: wild or uncultivated flowering plant

Other hypernyms of balloon flower include wild flower.

balloon flower (noun)	wildflower (noun)
fragrant puffed-up white to reddish-pink flowers in long narrow clusters on erect stems; Arizona to New Mexico and Utah	wild or uncultivated flowering plant