DLO vs QQQ: Correlation
DLocal Limited - Class A (DLO) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLO and QQQ?
Over the past 3 years, DLO and QQQ moved with a correlation of 0.30, which is moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.30 over 3. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 325.3 %².
QQQ is close to the least connected end of DLO's tracked universe, ranking #8 of 11. Correlation aside, the last 12 months split them widely, with QQQ ahead by 20.0 points (+6.3% versus +26.3%). Risk is not evenly split, since DLO carries 2.8 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.
DLO vs QQQ: side by side
| DLO (DLocal Limited - Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.3% | +26.3% |
| 5-year return | -74.1% | +95.4% |
| Volatility (ann.) | 55.6% | 19.6% |
| Beta vs S&P 500 | 1.22 | 1.28 |
| Max drawdown (3Y) | -68.6% | -22.8% |
| Market cap | $4.5B | – |
| P/E (trailing) | 22.6 | – |
| Dividend yield | 1.26% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | DLO | QQQ |
|---|---|---|
| 2022 | -56.4% | -32.6% |
| 2023 | +13.6% | +54.9% |
| 2024 | -36.3% | +25.6% |
| 2025 | +31.7% | +20.8% |
| 2026 | +8.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLO and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DLO and QQQ?
As of 2026-08-27, the correlation of weekly returns between DLO and QQQ is 0.30 over 3 years, 0.32 over 1 year and 0.38 over 5 years.
Is QQQ a good diversifier for DLO?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 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
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Related comparisons
Hubs: DLO correlations · QQQ correlations
