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BeOne Medicines Ltd. American Depositary Shares (ONC) vs Industrial Production
Correlation
of % moves
+37%
In sync
of periods
56%
History
monthsmonths · through 2026-05
17
These move in the same direction about 56% of the time
Their swing sizes only faintly line up (~14% 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 ~2 months before Industrial Production
Watch ONC for an early read on Industrial Production.
Advanced
Statistics
In sync(i)
56%
Headline metric
Movement correlation(i)
+37%
Based on % moves
95% CI
N/A
Pipeline
Pipeline Summary
17 paired data points survived the monthly window.
Raw input
379
1,289
Normalized
379
1,289
Prepared
19
1,289
Aligned
17
17
Invalid removed
Likely range
R²(i)
14%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
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: -6 to 6 months.
Selected shift
+2 months
Correlation at this shift
-51%
+14% 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?"
14 overlapping points at this shift
Baseline
+37%
No-shift correlation, matching the main time-series chart above.
Peak shift
+2 months
-51%
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
+3%
6 periods · Return correlation when both series rose
Both Falling
N/A
3 periods · Return correlation when both series fell
Diverging
-91%
7 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,274
A: 2 / B: 1272
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 379 raw → 19 prepared
Series B
Industrial Production
INDPRO
FRED · 1,289 raw → 1,289 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.0206
Linear regression slope.
Intercept
0.0011
Linear regression intercept.
Saved 3 months ago · ID: fred-indpro_stock-onc_monthly_5y