DLO vs VXX: Correlation
DLocal Limited - Class A (DLO) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLO and VXX?
Across a 3-year window, the weekly returns of DLO and VXX correlate at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.28). Stretching to 5 years gives -0.26, with an annualized covariance of -942.6 %².
Out of 11 assets tracked against DLO, VXX lands near the bottom at #11. The last year tells two different stories: DLO led by 56.0 percentage points, +6.3% for DLO against -49.7% for VXX.
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 VXX: side by side
| DLO (DLocal Limited - Class A) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.3% | -49.7% |
| 5-year return | -74.1% | -95.6% |
| Volatility (ann.) | 55.6% | 60.9% |
| Beta vs S&P 500 | 1.22 | -3.31 |
| Max drawdown (3Y) | -68.6% | -83.3% |
| Market cap | $4.5B | – |
| P/E (trailing) | 22.6 | – |
| Dividend yield | 1.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DLO | VXX |
|---|---|---|
| 2022 | -56.4% | -23.8% |
| 2023 | +13.6% | -72.5% |
| 2024 | -36.3% | -26.2% |
| 2025 | +31.7% | -42.2% |
| 2026 | +8.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLO and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between DLO and VXX?
As of 2026-08-27, the correlation of weekly returns between DLO and VXX is -0.28 over 3 years, -0.42 over 1 year and -0.26 over 5 years.
Is VXX a good diversifier for DLO?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dlo-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DLO correlations · VXX correlations
