DLO vs STNE: Correlation
How closely do DLocal Limited - Class A (DLO) and StoneCo Ltd. - Class A Common Share (STNE) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLO and STNE?
Over the past 3 years, DLO and STNE moved with a correlation of 0.44, which is moderate. The link has tightened recently: the 1-year correlation (0.55) runs above the 3-year figure (0.44). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 1165.8 %².
STNE is one of the assets that tracks DLO most closely: it ranks #3 out of the 11 assets we track against DLO. Correlation aside, the last 12 months split them widely, with DLO ahead by 33.6 points (+6.3% versus -27.3%).
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 STNE: side by side
| DLO (DLocal Limited - Class A) | STNE (StoneCo Ltd. - Class A Common Share) | |
|---|---|---|
| 1-year return | +6.3% | -27.3% |
| 5-year return | -74.1% | -76.6% |
| Volatility (ann.) | 55.6% | 48.1% |
| Beta vs S&P 500 | 1.22 | 1.41 |
| Max drawdown (3Y) | -68.6% | -57.6% |
| Market cap | $4.5B | $2.2B |
| P/E (trailing) | 22.6 | 3.7 |
| Dividend yield | 1.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DLO | STNE |
|---|---|---|
| 2022 | -56.4% | -44.0% |
| 2023 | +13.6% | +91.0% |
| 2024 | -36.3% | -55.8% |
| 2025 | +31.7% | +85.6% |
| 2026 | +8.9% | -21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLO and STNE good diversifiers for each other?
Reasonably. At 0.44, DLO and STNE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DLO and STNE?
The DLO/STNE correlation stands at 0.44 on a 3-year window (1 year: 0.55, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is STNE a good diversifier for DLO?
Reasonably. At 0.44, DLO and STNE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/dlo-vs-stne.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dlo-vs-stne/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DLO correlations · STNE correlations
