DLO vs. BULL

Last updated Jun 23, 2026

DLO (DLocal Limited) and BULL (Webull Corp) are both stocks. Both are in the Technology sector — DLO in Software - Infrastructure, BULL in Software - Application. Over the past year, DLO returned 21.72% vs -35.28% for BULL. At a 0.33 correlation, their price movements are largely independent.

Performance

DLO vs. BULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DLocal Limited (DLO) and Webull Corp (BULL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DLO having a -12.20% return and BULL slightly higher at -11.71%.

DLO

• 1D: -4.53%
• 1M: 2.95%
• YTD: -12.20%
• 6M: -13.54%
• 1Y: 21.72%
• 3Y*: 2.37%
• 5Y*: -21.99%
• 10Y*: —

BULL

• 1D: -3.11%
• 1M: 11.00%
• YTD: -11.71%
• 6M: -21.51%
• 1Y: -35.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DLO vs. BULL - Yearly Performance Comparison

	2026 (YTD)	2025
DLO DLocal Limited	-12.20%	69.70%
BULL Webull Corp	-11.71%	-33.13%

Correlation

The correlation between DLO and BULL is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Apr 10, 2025	0.33

Fundamentals

Market Cap DLO : $3.66B BULL : $3.61B
EPS DLO : $0.64 BULL : -$0.02
PS Ratio DLO : 3.03 BULL : 5.56
PB Ratio DLO : 6.62 BULL : 3.55
Total Revenue (TTM) DLO : $1.21B BULL : $613.56M
Gross Profit (TTM) DLO : $436.56M BULL : $469.66M
EBITDA (TTM) DLO : $280.42M BULL : $16.01M

Return for Risk

DLO vs. BULL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DLO

DLO Risk / Return Rank: 57
DLO Sharpe Ratio Rank: 55
DLO Sortino Ratio Rank: 56
DLO Omega Ratio Rank: 55
DLO Calmar Ratio Rank: 58
DLO Martin Ratio Rank: 57

BULL

BULL Risk / Return Rank: 24
BULL Sharpe Ratio Rank: 20
BULL Sortino Ratio Rank: 22
BULL Omega Ratio Rank: 23
BULL Calmar Ratio Rank: 25
BULL Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DLO vs. BULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DLocal Limited (DLO) and Webull Corp (BULL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DLO	BULL	Difference
Sharpe ratio: Return per unit of total volatility	0.40	-0.50	+0.90
Sortino ratio: Return per unit of downside risk	1.05	-0.40	+1.45
Omega ratio: Gain probability vs. loss probability	1.13	0.96	+0.17
Calmar ratio: Return relative to maximum drawdown	0.72	-0.48	+1.20
Martin ratio: Return relative to average drawdown	1.44	-0.71	+2.16

DLO vs. BULL - Sharpe Ratio Comparison

The current DLO Sharpe Ratio is 0.40, which is higher than the BULL Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of DLO and BULL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DLO vs. BULL - Drawdown Comparison

The maximum DLO drawdown since its inception was -89.99%, roughly equal to the maximum BULL drawdown of -92.64%. Use the drawdown chart below to compare losses from any high point for DLO and BULL.

Drawdown Indicators

	DLO	BULL	Difference
Max Drawdown Largest peak-to-trough decline	-89.99%	-92.64%	+2.65%
Max Drawdown (1Y) Largest decline over 1 year	-30.45%	-73.90%	+43.45%
Max Drawdown (3Y) Largest decline over 3 years	-68.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-89.99%	—	—
Current Drawdown Current decline from peak	-81.13%	-89.09%	+7.96%
Average Drawdown Average peak-to-trough decline	-70.22%	-82.72%	+12.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.07%	49.69%	-34.62%

Volatility

DLO vs. BULL - Volatility Comparison

The current volatility for DLocal Limited (DLO) is 12.17%, while Webull Corp (BULL) has a volatility of 23.68%. This indicates that DLO experiences smaller price fluctuations and is considered to be less risky than BULL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLO	BULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.17%	23.68%	-11.51%
Volatility (6M) Calculated over the trailing 6-month period	33.71%	43.51%	-9.80%
Volatility (1Y) Calculated over the trailing 1-year period	55.28%	70.76%	-15.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.63%	354.85%	-281.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.61%	354.85%	-281.24%

Dividends

DLO vs. BULL - Dividend Comparison

DLO's dividend yield for the trailing twelve months is around 1.59%, while BULL has not paid dividends to shareholders.

Position	TTM	2025
BULL Webull Corp	0.00%	0.00%
DLO DLocal Limited	1.59%	3.71%

Financials

DLO vs. BULL - Profitability Comparison

The chart below illustrates the profitability comparison between DLocal Limited and Webull Corp over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DLO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, DLocal Limited reported a gross profit of 118.68M and revenue of 335.86M. Therefore, the gross margin over that period was 35.3%.

BULL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Webull Corp reported a gross profit of 121.53M and revenue of 159.93M. Therefore, the gross margin over that period was 76.0%.

DLO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, DLocal Limited reported an operating income of 53.55M and revenue of 335.86M, resulting in an operating margin of 15.9%.

BULL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Webull Corp reported an operating income of -2.38M and revenue of 159.93M, resulting in an operating margin of -1.5%.

DLO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, DLocal Limited reported a net income of 41.98M and revenue of 335.86M, resulting in a net margin of 12.5%.

BULL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Webull Corp reported a net income of -21.72M and revenue of 159.93M, resulting in a net margin of -13.6%.

Frequently Asked Questions

Can I hold both DLO and BULL in my portfolio?

DLO and BULL have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLO or BULL?

BULL has higher volatility (23.68%) compared to DLO (12.17%). In terms of maximum drawdown, DLO dropped -89.99% vs BULL's -92.64%.

Which has better risk-adjusted returns?

DLO currently has the higher Sharpe Ratio (0.40 vs -0.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.