CTNT vs DLO: Correlation
How closely do Cheetah Net Supply Chain Service Inc. (CTNT) and DLocal Limited - Class A (DLO) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTNT and DLO?
On 3 years of weekly data the CTNT/DLO correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.05 versus -0.25 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -6411.3 %².
By 3-year correlation, DLO places #14 of the 21 assets tracked against CTNT. Their recent paths diverged sharply: over the last 12 months DLO outperformed by 105.9 percentage points (-99.6% for CTNT against +6.3% for DLO). Note the risk asymmetry: CTNT runs 8.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CTNT vs DLO: side by side
| CTNT (Cheetah Net Supply Chain Service Inc.) | DLO (DLocal Limited - Class A) | |
|---|---|---|
| 1-year return | -99.6% | +6.3% |
| 5-year return | n/a | -74.1% |
| Volatility (ann.) | 461.2% | 55.6% |
| Beta vs S&P 500 | 2.82 | 1.22 |
| Max drawdown (3Y) | -100.0% | -68.6% |
| Market cap | – | $4.5B |
| P/E (trailing) | – | 22.6 |
| Dividend yield | 0.00% | 1.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTNT | DLO |
|---|---|---|
| 2022 | – | -56.4% |
| 2023 | – | +13.6% |
| 2024 | -85.3% | -36.3% |
| 2025 | -61.4% | +31.7% |
| 2026 | -99.4% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTNT and DLO good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTNT and DLO?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with 0.05 over the last year and n/a over 5 years.
Is DLO a good diversifier for CTNT?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CTNT correlations · DLO correlations
