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BeOne Medicines Ltd. American Depositary Shares (ONC) vs USD/ZAR Exchange Rate
Correlation
of % moves
-32%
In sync
of periods
41%
History
daysdays · through 2026-07-02
373
These move in the same direction about 41% of the time
Their swing sizes only faintly mirror each other (~10% of the pattern is shared).
A real but noisy link — useful as context, risky as a standalone signal.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Unusual right now
Recently looser than usual — the pair is behaving differently than its long-run pattern.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Mostly stable
The relationship drifts a little but stays in the same neighbourhood.
Advanced
Statistics
In sync(i)
41%
Headline metric
Movement correlation(i)
-32%
Based on % moves
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
373 paired data points survived the daily window.
Raw input
379
11,660
Normalized
379
11,660
Prepared
379
11,660
Aligned
373
373
Invalid removed
10%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
372
Robust
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: -6 to 6 days.
Selected shift
No shift
Correlation at this shift
-32%
No shift — both series at their actual dates.
372 overlapping points at this shift
Baseline
-32%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-32%
A non-zero peak suggests one series lines up better when shifted against the other.
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
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
-0%
41 periods · Return correlation when both series rose
Both Falling
-8%
53 periods · Return correlation when both series fell
Diverging
-68%
155 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
11,293
A: 6 / B: 11287
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 379 raw → 379 prepared
Series B
USD/ZAR Exchange Rate
DEXSFUS
FRED · 11,660 raw → 11,660 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
13
Estimated crossover points between normalized spreads.
Slope
-0.0828
Linear regression slope.
Intercept
-0.0003
Linear regression intercept.
Saved 3 months ago · ID: fred-dexsfus_stock-onc_daily_5y