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BeOne Medicines Ltd. American Depositary Shares (ONC) vs Labor Force Participation
Correlation
of % moves
+31%
In sync
of periods
47%
History
monthsmonths · through 2026-08
19
These move in the same direction about 47% of the time
Their swing sizes only faintly line up (~10% of the pattern is shared).
Roughly random — these don't track each other in a meaningful way.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
ONC moves ~1 month before Labor Force Participation
Watch ONC for an early read on Labor Force Participation.
Advanced
Statistics
In sync(i)
47%
Headline metric
Movement correlation(i)
+31%
Based on % moves
95% CI
-20% → +69%
Pipeline
Pipeline Summary
19 paired data points survived the monthly window.
Raw input
422
943
Normalized
422
943
Prepared
21
943
Aligned
19
19
Invalid removed
Likely range of correlation
R²(i)
10%
Variance explained
Significance
n.s.
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: -3 to 3 months.
Selected shift
+1 month
Correlation at this shift
+63%
+32% stronger than no-shift baseline
Labor Force Participation shifted 1 month earlier. Reads: "Does BeOne Medicines Ltd. American Depositary Shares (ONC) today line up with Labor Force Participation 1 month from now?"
15 overlapping points at this shift
Baseline
+31%
No-shift correlation, matching the main time-series chart above.
Peak shift
+1 month
+63%
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
3 periods · Return correlation when both series rose
Both Falling
N/A
4 periods · Return correlation when both series fell
Diverging
-58%
10 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
926
A: 2 / B: 924
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 422 raw → 21 prepared
Series B
Labor Force Participation
CIVPART
FRED · 943 raw → 943 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
5
Estimated crossover points between normalized spreads.
Slope
0.0077
Linear regression slope.
Intercept
-0.0012
Linear regression intercept.
Saved 4 months ago · ID: fred-civpart_stock-onc_monthly_5y