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BeOne Medicines Ltd. American Depositary Shares (ONC) vs 10-Year Real Interest Rate
Correlation
of % moves
+51%
In sync
of periods
63%
History
monthsmonths · through 2026-05
17
These move in the same direction about 63% of the time
Their swing sizes loosely line up (~26% 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.
Advanced
Statistics
In sync(i)
62.5%
Headline metric
Movement correlation(i)
+51%
Based on % moves
95% CI
+2% → +80%
Likely range of correlation
Pipeline
Pipeline Summary
17 paired data points survived the monthly window.
Raw input
348
533
Normalized
348
533
Prepared
17
533
Aligned
17
17
Invalid removed
R²(i)
26.0%
Variance explained
Significance
p < 0.05
Statistical confidence
Data points
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: -6 to 6 months.
Selected shift
+1 month
Correlation at this shift
-59%
+8% 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?"
15 overlapping points at this shift
Baseline
+51%
No-shift correlation, matching the main time-series chart above.
Peak shift
+1 month
-59%
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
+44%
5 periods · Return correlation when both series rose
Both Falling
+87%
5 periods · Return correlation when both series fell
Diverging
-11%
6 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
516
A: 0 / B: 516
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 348 raw → 17 prepared
Series B
10-Year Real Interest Rate
REAINTRATREARAT10Y
FRED · 533 raw → 533 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.5237
Linear regression slope.
Intercept
-0.0275
Linear regression intercept.
Saved 2 weeks ago · ID: fred-reaintratrearat10y_stock-onc_monthly_5y