MELI vs. ETN
MELI (MercadoLibre, Inc.) and ETN (Eaton Corporation plc) are both stocks. MELI operates in Internet Retail (Consumer Cyclical), while ETN operates in Specialty Industrial Machinery (Industrials). Over the past 10 years, MELI returned 28.09%/yr vs 23.38%/yr for ETN. At a 0.38 correlation, their price movements are largely independent.
Performance
MELI vs. ETN - Performance Comparison
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Returns By Period
In the year-to-date period, MELI achieves a -21.08% return, which is significantly lower than ETN's 23.61% return. Over the past 10 years, MELI has outperformed ETN with an annualized return of 28.09%, while ETN has yielded a comparatively lower 23.38% annualized return.
MELI
- 1D
- -1.27%
- 1M
- 1.77%
- YTD
- -21.08%
- 6M
- -21.15%
- 1Y
- -32.89%
- 3Y*
- 9.54%
- 5Y*
- 2.68%
- 10Y*
- 28.09%
ETN
- 1D
- -0.57%
- 1M
- -3.82%
- YTD
- 23.61%
- 6M
- 18.59%
- 1Y
- 19.85%
- 3Y*
- 28.04%
- 5Y*
- 23.65%
- 10Y*
- 23.38%
MELI vs. ETN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MELI MercadoLibre, Inc. | -21.08% | 18.46% | 8.20% | 85.71% | -37.24% | -19.51% | 192.90% | 95.30% | -6.93% | 101.99% |
ETN Eaton Corporation plc | 23.61% | -2.79% | 39.51% | 56.22% | -7.18% | 46.70% | 29.88% | 42.76% | -10.04% | 21.54% |
Correlation
The correlation between MELI and ETN is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2007 | 0.38 |
Over the past year, the correlation between MELI and ETN has dropped to 0.11 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.
Fundamentals
MELI:
$80.59B
ETN:
$152.33B
MELI:
$37.87
ETN:
$10.22
MELI:
41.97
ETN:
38.28
MELI:
0.25
ETN:
2.08
MELI:
2.63
ETN:
5.36
MELI:
11.07
ETN:
7.71
MELI:
$30.67B
ETN:
$28.52B
MELI:
$13.95B
ETN:
$7.87B
MELI:
$3.11B
ETN:
$4.75B
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Return for Risk
MELI vs. ETN — Risk / Return Rank
MELI
ETN
MELI vs. ETN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MercadoLibre, Inc. (MELI) and Eaton Corporation plc (ETN). 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.
| MELI | ETN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.13 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 1.04 | -1.85 |
| Martin ratioReturn relative to average drawdown | -1.42 | 2.25 | -3.66 |
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Drawdowns
MELI vs. ETN - Drawdown Comparison
The maximum MELI drawdown since its inception was -89.49%, which is greater than ETN's maximum drawdown of -68.95%. Use the drawdown chart below to compare losses from any high point for MELI and ETN.
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Drawdown Indicators
| MELI | ETN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.49% | -68.95% | -20.54% |
Max Drawdown (1Y)Largest decline over 1 year | -40.82% | -19.14% | -21.68% |
Max Drawdown (3Y)Largest decline over 3 years | -40.82% | -34.46% | -6.36% |
Max Drawdown (5Y)Largest decline over 5 years | -68.64% | -34.46% | -34.18% |
Max Drawdown (10Y)Largest decline over 10 years | -69.12% | -44.55% | -24.57% |
Current DrawdownCurrent decline from peak | -39.18% | -9.36% | -29.82% |
Average DrawdownAverage peak-to-trough decline | -23.58% | -14.89% | -8.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.24% | 8.86% | +14.38% |
Volatility
MELI vs. ETN - Volatility Comparison
The current volatility for MercadoLibre, Inc. (MELI) is 9.96%, while Eaton Corporation plc (ETN) has a volatility of 13.57%. This indicates that MELI experiences smaller price fluctuations and is considered to be less risky than ETN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MELI | ETN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.96% | 13.57% | -3.61% |
Volatility (6M)Calculated over the trailing 6-month period | 29.79% | 26.78% | +3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.48% | 33.48% | +6.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.65% | 30.24% | +19.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.88% | 30.10% | +18.78% |
Dividends
MELI vs. ETN - Dividend Comparison
MELI has not paid dividends to shareholders, while ETN's dividend yield for the trailing twelve months is around 1.09%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 1.09% | 1.31% | 1.13% | 1.43% | 2.06% | 1.76% | 1.88% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% |
MELI MercadoLibre, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19% | 0.38% | 0.36% |
Financials
MELI vs. ETN - Financials Comparison
This section allows you to compare key financial metrics between MercadoLibre, Inc. and Eaton Corporation plc. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MELI vs. ETN - Profitability Comparison
MELI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MercadoLibre, Inc. reported a gross profit of 3.86B and revenue of 7.72B. Therefore, the gross margin over that period was 50.1%.
ETN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a gross profit of 0.00 and revenue of 7.45B. Therefore, the gross margin over that period was 0.0%.
MELI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MercadoLibre, Inc. reported an operating income of 611.00M and revenue of 7.72B, resulting in an operating margin of 7.9%.
ETN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported an operating income of 0.00 and revenue of 7.45B, resulting in an operating margin of 0.0%.
MELI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MercadoLibre, Inc. reported a net income of 417.00M and revenue of 7.72B, resulting in a net margin of 5.4%.
ETN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a net income of 866.00M and revenue of 7.45B, resulting in a net margin of 11.6%.
Frequently Asked Questions
MELI and ETN have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETN has higher volatility (13.57%) compared to MELI (9.96%). In terms of maximum drawdown, MELI dropped -89.49% vs ETN's -68.95%.
ETN currently has the higher Sharpe Ratio (0.60 vs -0.84), 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.
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