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BeOne Medicines Ltd. American Depositary Shares (ONC) vs Housing Starts
Correlation
of % moves
-26%
In sync
of periods
53%
History
monthsmonths · through 2026-04
16
These move in the same direction about 53% of the time
Their swing sizes only faintly mirror each other (~7% 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 ~4 months before Housing Starts
Watch ONC for an early read on Housing Starts.
Advanced
Statistics
In sync(i)
53.3%
Headline metric
Movement correlation(i)
-26%
Based on % moves
95% CI
-68% → +29%
Pipeline
Pipeline Summary
16 paired data points survived the monthly window.
Raw input
348
808
Normalized
348
808
Prepared
17
808
Aligned
16
16
Invalid removed
Likely range of correlation
R²(i)
6.6%
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
+4 months
Correlation at this shift
+65%
+39% stronger than no-shift baseline
Housing Starts shifted 4 months earlier. Reads: "Does BeOne Medicines Ltd. American Depositary Shares (ONC) today line up with Housing Starts 4 months from now?"
11 overlapping points at this shift
Baseline
-26%
No-shift correlation, matching the main time-series chart above.
Peak shift
+4 months
+65%
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
+59%
6 periods · Return correlation when both series rose
Both Falling
N/A
2 periods · Return correlation when both series fell
Diverging
-94%
7 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
793
A: 1 / B: 792
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 348 raw → 17 prepared
Series B
Housing Starts
HOUST
FRED · 808 raw → 808 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
4
Estimated crossover points between normalized spreads.
Slope
-0.1995
Linear regression slope.
Intercept
0.0107
Linear regression intercept.
Saved 2 weeks ago · ID: fred-houst_stock-onc_monthly_5y