Loading market view
Loading market view
Loading correlations
BeOne Medicines Ltd. American Depositary Shares (ONC) vs Nonfarm Payrolls
Correlation
of % moves
-25%
In sync
of periods
53%
History
monthsmonths · through 2026-06
18
These move in the same direction about 53% of the time
Their swing sizes only faintly mirror each other (~6% 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
Nonfarm Payrolls moves ~7 months before ONC
Watch Nonfarm Payrolls for an early read on ONC.
Advanced
Statistics
In sync(i)
53%
Headline metric
Movement correlation(i)
-25%
Based on % moves
95% CI
N/A
Pipeline
Pipeline Summary
18 paired data points survived the monthly window.
Raw input
379
1,050
Normalized
379
1,050
Prepared
19
1,050
Aligned
18
18
Invalid removed
Likely range
R²(i)
6%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
17
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: -7 to 7 months.
Selected shift
-7 months
Correlation at this shift
+43%
+18% stronger than no-shift baseline
Nonfarm Payrolls shifted 7 months later. Reads: "Does BeOne Medicines Ltd. American Depositary Shares (ONC) today line up with Nonfarm Payrolls 7 months ago?"
10 overlapping points at this shift
Baseline
-25%
No-shift correlation, matching the main time-series chart above.
Peak shift
-7 months
+43%
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
-37%
7 periods · Return correlation when both series rose
Both Falling
N/A
2 periods · Return correlation when both series fell
Diverging
-82%
8 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,033
A: 1 / B: 1032
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 379 raw → 19 prepared
Series B
Nonfarm Payrolls
PAYEMS
FRED · 1,050 raw → 1,050 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
7
Estimated crossover points between normalized spreads.
Slope
-0.0018
Linear regression slope.
Intercept
0.0003
Linear regression intercept.
Saved 3 months ago · ID: fred-payems_stock-onc_monthly_5y