Correlation Analysis
BERKSHIRE HATHAWAY Class B vs BeOne Medicines Ltd. American Depositary Shares
BRK.B vs ONC
+0.149
Weak positive
When one moves up, the other tends to follow.
BERKSHIRE HATHAWAY Class B
↗BRK.B
Berkshire Hathaway is a holding company with a wide array of subsidiaries engaged in diverse activities. The firm's core business segment is insurance, run primarily through Geico, Berkshire Hathaway Reinsurance Group, and Berkshire Hathaway Primary Group. Berkshire has used the excess cash thrown off from its operations to acquire Burlington Northern Santa Fe (railroad), Berkshire Hathaway Energy (utilities and energy distributors), and the companies that make up its manufacturing, service, and retailing operations (which include Precision Castparts, Lubrizol, Clayton Homes, Marmon, and IMC/ISCAR). The conglomerate is unique in that it is run on a completely decentralized basis. Berkshire is expected to generate close to $375 billion in revenue in 2025.
Market cap 1T
BeOne Medicines Ltd. American Depositary Shares
↗ONC
BeOne Medicines Ltd is a holding company. Through its subsidiaries, it operates as an oncology-focused biopharmaceutical company engaged in the discovery and development of treatments for cancer. Its portfolio includes BRUKINSA (a Bruton's tyrosine kinase (BTK) inhibitor), sonrotoclax (a B-cell lymphoma 2 (BCL2) inhibitor, and a BTK chimeric degradation activation compound (BTK-CDAC). The company develops and commercializes wholly owned therapeutic assets targeting multiple mechanisms of action in oncology. The company operates in one segment: pharmaceutical products. It generates the majority of its revenue from the sale of its biopharmaceutical products.
Market cap 33.6B · 12,000 employees
Time Series
Relative Performance
Who Moves First
in sync
BRK.B and ONC tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.149 (they moved in the same direction).
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+0.072
12 periods · Return correlation when both series rose
Both Falling
+0.463
10 periods · Return correlation when both series fell
Diverging
-0.451
13 periods · Return correlation when series moved apart
R-Squared
2.2%
Share of variance in one series explained by the other.
Trend Agreement
51.8%
How often both series moved in the same direction period-to-period.
Overlap Quality
315
Robust shared window — 315 usable pairs.
Significance
p < 0.01
95% CI: [0.039, 0.256]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
315 paired data points survived the daily window.
Raw input
1,254
315
Normalized
1,254
315
Prepared
1,254
315
Aligned
315
315
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
939
A: 939 / B: 0
Series A
BERKSHIRE HATHAWAY Class B
BRK.B
Market cap 1T
Stock · 1,254 raw → 1,254 prepared
Series B
BeOne Medicines Ltd. American Depositary Shares
ONC
Market cap 33.6B · 12,000 employees
Stock · 315 raw → 315 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
7
Estimated crossover points between normalized spreads.
Slope
0.3847
Linear regression slope.
Intercept
97.8557
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
BRK.B
BERKSHIRE HATHAWAY Class B
Highest
+0.968
Republic Services Inc.
RSG · 1,254 data points
Lowest
-0.918
United Parcel Service, Inc. Class B
UPS · 1,254 data points
ONC
BeOne Medicines Ltd. American Depositary Shares
Highest
+0.815
Broadcom Inc. Common Stock
AVGO · 315 data points
Lowest
-0.338
Costco Wholesale Corp
COST · 315 data points
Saved 6 hours ago · ID: stock-brk-b-vs-stock-onc-daily