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BeOne Medicines Ltd. American Depositary Shares (ONC) vs Labor Force Participation
Correlation
of % moves
+25%
In sync
of periods
46%
History
monthsmonths · through 2026-06
17
These move in the same direction about 46% of the time
Their swing sizes only faintly line up (~6% 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)
46%
Headline metric
Movement correlation(i)
+25%
Based on % moves
95% CI
N/A
Pipeline
Pipeline Summary
17 paired data points survived the monthly window.
Raw input
379
941
Normalized
379
941
Prepared
19
941
Aligned
17
17
Invalid removed
Likely range
R²(i)
6%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
15
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: -2 to 2 months.
Selected shift
+1 month
Correlation at this shift
+59%
+34% 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?"
13 overlapping points at this shift
Baseline
+25%
No-shift correlation, matching the main time-series chart above.
Peak shift
+1 month
+59%
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
4 periods · Return correlation when both series fell
Diverging
-64%
9 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 · 379 raw → 19 prepared
Series B
Labor Force Participation
CIVPART
FRED · 941 raw → 941 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
2
Estimated crossover points between normalized spreads.
Slope
0.0060
Linear regression slope.
Intercept
-0.0013
Linear regression intercept.
Saved 3 months ago · ID: fred-civpart_stock-onc_monthly_5y