I am not quite sure how to word this question, but what I'm essentially wondering is if people who live in Central and South America are more closely related to the indigenous populations before the Europeans came, or to the European conquerors? I know many people there are Mestizo, but are Mestizo's more European or Native American? Hope the question makes sense!
Well from a historical standpoint it typically depends by the country. Countries such as Argentina and Uruguay tend to have larger amounts of european descended people due to large numbers of immigration.
On the otherhand, the word mestizo simply means mixed. In the majority of countries in south and central america, this is the primary racial group. However, you have to understand that mestizos in all these countries are extremely varied, with varying amounts of indigenous, european, and african descent.