DLO vs WBTN: Correlation
How closely do DLocal Limited - Class A (DLO) and WEBTOON Entertainment Inc. (WBTN) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLO and WBTN?
On 3 years of weekly data the DLO/WBTN correlation comes out at 0.48, moderate. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.48). The 5-year figure is n/a, and annualized covariance runs at 2235.6 %².
Few assets follow DLO as closely as WBTN, which ranks #1 of 11 tracked partners. Correlation aside, the last 12 months split them widely, with DLO ahead by 40.7 points (+6.3% versus -34.4%).
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 WBTN: side by side
| DLO (DLocal Limited - Class A) | WBTN (WEBTOON Entertainment Inc.) | |
|---|---|---|
| 1-year return | +6.3% | -34.4% |
| 5-year return | -74.1% | n/a |
| Volatility (ann.) | 55.6% | 80.5% |
| Beta vs S&P 500 | 1.22 | 1.69 |
| Max drawdown (3Y) | -68.6% | -70.6% |
| Market cap | $4.5B | $1.4B |
| P/E (trailing) | 22.6 | – |
| Dividend yield | 1.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DLO | WBTN |
|---|---|---|
| 2022 | -56.4% | – |
| 2023 | +13.6% | – |
| 2024 | -36.3% | – |
| 2025 | +31.7% | -4.1% |
| 2026 | +8.9% | -23.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLO and WBTN good diversifiers for each other?
Reasonably. At 0.48, DLO and WBTN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DLO and WBTN?
As of 2026-08-27, the correlation of weekly returns between DLO and WBTN is 0.48 over 3 years, 0.37 over 1 year and n/a over 5 years.
Is WBTN a good diversifier for DLO?
Reasonably. At 0.48, DLO and WBTN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dlo-vs-wbtn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dlo-vs-wbtn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DLO correlations · WBTN correlations
