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BeOne Medicines Ltd. American Depositary Shares (ONC) vs 10-Year Real Interest Rate
Correlation
of % moves
+33%
In sync
of periods
63%
History
monthsmonths · through 2026-08
20
These move in the same direction about 63% of the time
Their swing sizes only faintly line up (~11% 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 ~1 month before 10-Year Real Interest Rate
Watch ONC for an early read on 10-Year Real Interest Rate.
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
Flips between sync and inverse
Sometimes the two move together, sometimes opposite. Don't treat this as a stable signal.
Advanced
Statistics
In sync(i)
63%
Headline metric
Movement correlation(i)
+33%
Based on % moves
95% CI
-15% → +68%
Likely range of correlation
Pipeline
Pipeline Summary
20 paired data points survived the monthly window.
Raw input
423
536
Normalized
423
536
Prepared
21
536
Aligned
20
20
Invalid removed
R²(i)
11%
Variance explained
Significance
n.s.
Statistical confidence
Data points(i)
19
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: -9 to 9 months.
Selected shift
+1 month
Correlation at this shift
-52%
+19% stronger than no-shift baseline
10-Year Real Interest Rate shifted 1 month earlier. Reads: "Does BeOne Medicines Ltd. American Depositary Shares (ONC) today line up with 10-Year Real Interest Rate 1 month from now?"
18 overlapping points at this shift
Baseline
+33%
No-shift correlation, matching the main time-series chart above.
Peak shift
+1 month
-52%
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
+10%
7 periods · Return correlation when both series rose
Both Falling
+87%
5 periods · Return correlation when both series fell
Diverging
-74%
7 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
517
A: 1 / B: 516
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 423 raw → 21 prepared
Series B
10-Year Real Interest Rate
REAINTRATREARAT10Y
FRED · 536 raw → 536 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
5
Estimated crossover points between normalized spreads.
Slope
0.3334
Linear regression slope.
Intercept
-0.0063
Linear regression intercept.
Saved 4 months ago · ID: fred-reaintratrearat10y_stock-onc_monthly_5y