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BeOne Medicines Ltd. American Depositary Shares (ONC) vs Industrial Production
Correlation
of % moves
+41%
In sync
of periods
60%
History
monthsmonths · through 2026-04
16
These move in the same direction about 60% of the time
Their swing sizes loosely line up (~16% 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
ONC moves ~2 months before Industrial Production
Watch ONC for an early read on Industrial Production.
Advanced
Statistics
In sync(i)
60.0%
Headline metric
Movement correlation(i)
+41%
Based on % moves
95% CI
-13% → +76%
Pipeline
Pipeline Summary
16 paired data points survived the monthly window.
Raw input
348
1,288
Normalized
348
1,288
Prepared
17
1,288
Aligned
16
16
Invalid removed
Likely range of correlation
R²(i)
16.5%
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
+2 months
Correlation at this shift
-73%
+32% stronger than no-shift baseline
Industrial Production shifted 2 months earlier. Reads: "Does BeOne Medicines Ltd. American Depositary Shares (ONC) today line up with Industrial Production 2 months from now?"
13 overlapping points at this shift
Baseline
+41%
No-shift correlation, matching the main time-series chart above.
Peak shift
+2 months
-73%
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
+21%
6 periods · Return correlation when both series rose
Both Falling
N/A
3 periods · Return correlation when both series fell
Diverging
-92%
6 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,273
A: 1 / B: 1272
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 348 raw → 17 prepared
Series B
Industrial Production
INDPRO
FRED · 1,288 raw → 1,288 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.0200
Linear regression slope.
Intercept
0.0011
Linear regression intercept.
Saved 2 weeks ago · ID: fred-indpro_stock-onc_monthly_5y