Correlation Analysis
JPMorgan Chase & Co. vs BeOne Medicines Ltd. American Depositary Shares
JPM vs ONC
+0.809
Strong positive
When one moves up, the other tends to follow.
JPMorgan Chase & Co.
↗JPM
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with more than $4.4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates and is subject to regulation in multiple countries.
Market cap 792.5B
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
JPM leads ONC by 6 days
JPM tends to move before ONC.
After testing 13 timing shifts, the strongest relationship was +0.841 (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
-0.436
11 periods · Return correlation when both series rose
Both Falling
-0.564
5 periods · Return correlation when both series fell
Diverging
-0.635
19 periods · Return correlation when series moved apart
R-Squared
65.5%
Share of variance in one series explained by the other.
Trend Agreement
57.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
315
Robust shared window — 315 usable pairs.
Significance
p < 0.001
95% CI: [0.768, 0.844]
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
JPMorgan Chase & Co.
JPM
Market cap 792.5B
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
37
Estimated crossover points between normalized spreads.
Slope
1.3663
Linear regression slope.
Intercept
-101.3208
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
JPM
JPMorgan Chase & Co.
Highest
+0.977
Royal Caribbean Group
RCL · 1,254 data points
Lowest
-0.873
The Kraft Heinz Company Common Stock
KHC · 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 4 hours ago · ID: stock-jpm-vs-stock-onc-daily