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BeOne Medicines Ltd. American Depositary Shares (ONC) vs CPI: Used Cars & Trucks
Correlation
of % moves
+35%
In sync
of periods
56%
History
monthsmonths · through 2026-07
19
These move in the same direction about 56% of the time
Their swing sizes only faintly line up (~12% of the pattern is shared).
A faint pattern — interesting as colour, not strong enough to act on alone.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
ONC moves ~8 months before CPI: Used Cars & Trucks
Watch ONC for an early read on CPI: Used Cars & Trucks.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Advanced
Statistics
In sync(i)
56%
Headline metric
Movement correlation(i)
+35%
Based on % moves
95% CI
-14% → +70%
Likely range of correlation
Pipeline
Pipeline Summary
19 paired data points survived the monthly window.
Raw input
421
883
Normalized
421
883
Prepared
21
883
Aligned
19
19
Invalid removed
R²(i)
12%
Variance explained
Significance
n.s.
Statistical confidence
Data points(i)
18
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: -8 to 8 months.
Selected shift
+8 months
Correlation at this shift
+70%
+35% stronger than no-shift baseline
CPI: Used Cars & Trucks shifted 8 months earlier. Reads: "Does BeOne Medicines Ltd. American Depositary Shares (ONC) today line up with CPI: Used Cars & Trucks 8 months from now?"
10 overlapping points at this shift
Baseline
+35%
No-shift correlation, matching the main time-series chart above.
Peak shift
+8 months
+70%
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
+43%
5 periods · Return correlation when both series rose
Both Falling
-34%
5 periods · Return correlation when both series fell
Diverging
-56%
8 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
866
A: 2 / B: 864
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 421 raw → 21 prepared
Series B
CPI: Used Cars & Trucks
CUSR0000SETA02
FRED · 883 raw → 883 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
0.0263
Linear regression slope.
Intercept
-0.0020
Linear regression intercept.
Saved 4 months ago · ID: fred-cusr0000seta02_stock-onc_monthly_5y