Correlation Analysis
BeOne Medicines Ltd. American Depositary Shares vs Walmart Inc. Common Stock
ONC vs WMT
+0.610
Moderate positive
When one moves up, the other tends to follow.
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
Walmart Inc. Common Stock
↗WMT
Since its founding in 1962, Walmart has become the world's largest retailer, operating over 10,700 stores globally (including 4,600 namesake locations on its home turf and another 600 Sam's Club outlets) and growing its e-commerce presence, attracting 270 million customers weekly. In aggregate, the firm posted more than $680 billion in fiscal 2025 sales. Its core operations span three reporting segments: Walmart US (68% of fiscal 2025 sales), Walmart International (18%), and Sam's Club (14%). Within the US, nearly 60% of its $465 billion in fiscal 2025 revenue came from its grocery offerings, with another quarter from general merchandise. Internationally, Walmart's operations are concentrated in Mexico, though it also has budding exposure to India.
Market cap 1T
Time Series
Relative Performance
Who Moves First
ONC leads WMT by 6 days
ONC tends to move before WMT.
After testing 13 timing shifts, the strongest relationship was +0.635 (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
-0.076
14 periods · Return correlation when both series rose
Both Falling
-0.376
9 periods · Return correlation when both series fell
Diverging
-0.588
12 periods · Return correlation when series moved apart
R-Squared
37.2%
Share of variance in one series explained by the other.
Trend Agreement
54.8%
How often both series moved in the same direction period-to-period.
Overlap Quality
315
Robust shared window — 315 usable pairs.
Significance
p < 0.001
95% CI: [0.535, 0.675]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
315 paired data points survived the daily window.
Raw input
315
1,254
Normalized
315
1,254
Prepared
315
1,254
Aligned
315
315
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
939
A: 0 / B: 939
Series A
BeOne Medicines Ltd. American Depositary Shares
ONC
Market cap 33.6B · 12,000 employees
Stock · 315 raw → 315 prepared
Series B
Walmart Inc. Common Stock
WMT
Market cap 1T
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
8
Estimated crossover points between normalized spreads.
Slope
0.1553
Linear regression slope.
Intercept
59.3721
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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 7 hours ago · ID: stock-onc-vs-stock-wmt-daily