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BeOne Medicines Ltd. American Depositary Shares (ONC) vs Avg Hourly Earnings
Correlation
of % moves
+37%
In sync
of periods
67%
History
monthsmonths · through 2026-04
16
These move in the same direction about 67% of the time
Their swing sizes only faintly line up (~14% 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.
What to Watch
Avg Hourly Earnings moves ~3 months before ONC
Watch Avg Hourly Earnings for an early read on ONC.
Advanced
Statistics
In sync(i)
66.7%
Headline metric
Movement correlation(i)
+37%
Based on % moves
95% CI
-17% → +74%
Pipeline
Pipeline Summary
16 paired data points survived the monthly window.
Raw input
348
242
Normalized
348
242
Prepared
17
242
Aligned
16
16
Invalid removed
Likely range of correlation
R²(i)
13.9%
Variance explained
Significance
n.s.
Statistical confidence
Data points
16
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: -5 to 5 months.
Selected shift
-3 months
Correlation at this shift
+57%
+20% stronger than no-shift baseline
Avg Hourly Earnings shifted 3 months later. Reads: "Does BeOne Medicines Ltd. American Depositary Shares (ONC) today line up with Avg Hourly Earnings 3 months ago?"
12 overlapping points at this shift
Baseline
+37%
No-shift correlation, matching the main time-series chart above.
Peak shift
-3 months
+57%
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
-12%
10 periods · Return correlation when both series rose
Both Falling
N/A
0 periods · Return correlation when both series fell
Diverging
+35%
5 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
227
A: 1 / B: 226
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 348 raw → 17 prepared
Series B
Avg Hourly Earnings
CES0500000003
FRED · 242 raw → 242 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.0058
Linear regression slope.
Intercept
0.0027
Linear regression intercept.
Saved 2 weeks ago · ID: fred-ces0500000003_stock-onc_monthly_5y