TCOM vs. DLO
TCOM (Trip.com Group Limited) and DLO (DLocal Limited) are both stocks. TCOM operates in Travel Services (Consumer Cyclical), while DLO operates in Software - Infrastructure (Technology). Over the past 5 years, TCOM returned 5.97%/yr vs -20.08%/yr for DLO. At a 0.23 correlation, their price movements are largely independent.
Performance
TCOM vs. DLO - Performance Comparison
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Returns By Period
In the year-to-date period, TCOM achieves a -40.48% return, which is significantly lower than DLO's 9.23% return.
TCOM
- 1D
- 3.31%
- 1M
- -9.69%
- 6M
- -43.43%
- YTD
- -40.48%
- 1Y
- -30.88%
- 3Y*
- 6.23%
- 5Y*
- 5.97%
- 10Y*
- 0.25%
DLO
- 1D
- 4.26%
- 1M
- 23.10%
- 6M
- 7.78%
- YTD
- 9.23%
- 1Y
- 40.67%
- 3Y*
- 7.48%
- 5Y*
- -20.08%
- 10Y*
- —
TCOM vs. DLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TCOM Trip.com Group Limited | -40.48% | 5.24% | 90.67% | 4.68% | 39.72% | -37.95% |
DLO DLocal Limited | 9.23% | 31.72% | -36.35% | 13.62% | -56.37% | 15.13% |
Correlation
The correlation between TCOM and DLO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2021 | 0.23 |
Fundamentals
TCOM:
$26.95B
DLO:
$4.46B
TCOM:
CN¥45.41
DLO:
$0.64
TCOM:
6.39
DLO:
23.71
TCOM:
0.04
DLO:
0.74
TCOM:
3.12
DLO:
3.76
TCOM:
1.20
DLO:
8.23
TCOM:
CN¥64.48B
DLO:
$1.21B
TCOM:
CN¥51.79B
DLO:
$436.56M
TCOM:
CN¥39.20B
DLO:
$280.42M
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Return for Risk
TCOM vs. DLO — Risk / Return Rank
TCOM
DLO
TCOM vs. DLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Trip.com Group Limited (TCOM) and DLocal Limited (DLO). 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.
| TCOM | DLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.17 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 1.17 | -1.80 |
| Martin ratioReturn relative to average drawdown | -1.24 | 2.33 | -3.56 |
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Drawdowns
TCOM vs. DLO - Drawdown Comparison
The maximum TCOM drawdown since its inception was -76.34%, smaller than the maximum DLO drawdown of -89.99%. Use the drawdown chart below to compare losses from any high point for TCOM and DLO.
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Drawdown Indicators
| TCOM | DLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.34% | -89.99% | +13.65% |
Max Drawdown (1Y)Largest decline over 1 year | -49.54% | -30.45% | -19.09% |
Max Drawdown (3Y)Largest decline over 3 years | -49.54% | -68.59% | +19.05% |
Max Drawdown (5Y)Largest decline over 5 years | -49.54% | -89.99% | +40.45% |
Max Drawdown (10Y)Largest decline over 10 years | -71.96% | — | — |
Current DrawdownCurrent decline from peak | -45.80% | -76.52% | +30.72% |
Average DrawdownAverage peak-to-trough decline | -27.89% | -70.30% | +42.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.98% | 15.34% | +9.64% |
Volatility
TCOM vs. DLO - Volatility Comparison
Trip.com Group Limited (TCOM) has a higher volatility of 16.28% compared to DLocal Limited (DLO) at 15.39%. This indicates that TCOM's price experiences larger fluctuations and is considered to be riskier than DLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCOM | DLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.28% | 15.39% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 31.02% | 36.05% | -5.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.00% | 56.14% | -18.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.47% | 73.39% | -23.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.42% | 73.52% | -29.10% |
Dividends
TCOM vs. DLO - Dividend Comparison
TCOM has not paid dividends to shareholders, while DLO's dividend yield for the trailing twelve months is around 1.28%.
| Position | TTM | 2025 |
|---|---|---|
DLO DLocal Limited | 1.28% | 3.71% |
TCOM Trip.com Group Limited | 0.00% | 0.42% |
Financials
TCOM vs. DLO - Financials Comparison
This section allows you to compare key financial metrics between Trip.com Group Limited and DLocal Limited. 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
TCOM vs. DLO - Profitability Comparison
TCOM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Trip.com Group Limited reported a gross profit of 12.80B and revenue of 16.11B. Therefore, the gross margin over that period was 79.5%.
DLO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.
TCOM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Trip.com Group Limited reported an operating income of 3.92B and revenue of 16.11B, resulting in an operating margin of 24.3%.
DLO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, DLocal Limited reported an operating income of 53.55M and revenue of 335.86M, resulting in an operating margin of 15.9%.
TCOM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Trip.com Group Limited reported a net income of 2.48B and revenue of 16.11B, resulting in a net margin of 15.4%.
DLO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, DLocal Limited reported a net income of 41.98M and revenue of 335.86M, resulting in a net margin of 12.5%.
Frequently Asked Questions
TCOM and DLO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCOM has higher volatility (16.28%) compared to DLO (15.39%). In terms of maximum drawdown, TCOM dropped -76.34% vs DLO's -89.99%.
DLO currently has the higher Sharpe Ratio (0.64 vs -0.81), 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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