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BeOne Medicines Ltd. American Depositary Shares (ONC) vs Aaa Corporate Bond Yield
Correlation
of % moves
-64%
In sync
of periods
24%
History
monthsmonths · through 2026-06
18
These move in the same direction about 24% of the time
When one swings, the other often swings by a similar amount in the opposite direction (~42% of the pattern is shared).
Strong enough to use as a signal — check the stability and regime notes below before relying on it.
Both lines start at the same point — easy to compare when growth rates are similar.
Advanced
Statistics
In sync(i)
24%
Headline metric
Movement correlation(i)
-64%
Based on % moves
95% CI
N/A
Pipeline
Pipeline Summary
18 paired data points survived the monthly window.
Raw input
379
1,290
Normalized
379
1,290
Prepared
19
1,290
Aligned
18
18
Invalid removed
Likely range
R²(i)
42%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
17
Limited
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -7 to 7 months.
Selected shift
No shift
Correlation at this shift
-64%
No shift — both series at their actual dates.
17 overlapping points at this shift
Baseline
-64%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-64%
A non-zero peak suggests one series lines up better when shifted against the other.
Do They Crash Together?
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
N/A
2 periods · Return correlation when both series rose
Both Falling
N/A
2 periods · Return correlation when both series fell
Diverging
-87%
13 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,273
A: 1 / B: 1272
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 379 raw → 19 prepared
Series B
Aaa Corporate Bond Yield
AAA
FRED · 1,290 raw → 1,290 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
2
Estimated crossover points between normalized spreads.
Slope
-0.1428
Linear regression slope.
Intercept
0.0031
Linear regression intercept.
Saved 3 months ago · ID: fred-aaa_stock-onc_monthly_5y