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BeOne Medicines Ltd. American Depositary Shares (ONC) vs U-6 Unemployment Rate
Correlation
of % moves
+30%
In sync
of periods
58%
History
monthsmonths · through 2026-04
15
These move in the same direction about 58% of the time
Their swing sizes only faintly line up (~9% 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
U-6 Unemployment Rate moves ~4 months before ONC
Watch U-6 Unemployment Rate for an early read on ONC.
Advanced
Statistics
In sync(i)
58.3%
Headline metric
Movement correlation(i)
+30%
Based on % moves
95% CI
-27% → +72%
Pipeline
Pipeline Summary
15 paired data points survived the monthly window.
Raw input
348
387
Normalized
348
387
Prepared
17
387
Aligned
15
15
Invalid removed
Likely range of correlation
R²(i)
9.1%
Variance explained
Significance
n.s.
Statistical confidence
Data points
15
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: -4 to 4 months.
Selected shift
-4 months
Correlation at this shift
-58%
+28% stronger than no-shift baseline
U-6 Unemployment Rate shifted 4 months later. Reads: "Does BeOne Medicines Ltd. American Depositary Shares (ONC) today line up with U-6 Unemployment Rate 4 months ago?"
10 overlapping points at this shift
Baseline
+30%
No-shift correlation, matching the main time-series chart above.
Peak shift
-4 months
-58%
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
N/A
4 periods · Return correlation when both series rose
Both Falling
N/A
2 periods · Return correlation when both series fell
Diverging
-62%
7 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
374
A: 2 / B: 372
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 348 raw → 17 prepared
Series B
U-6 Unemployment Rate
U6RATE
FRED · 387 raw → 387 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.1130
Linear regression slope.
Intercept
0.0031
Linear regression intercept.
Saved 2 weeks ago · ID: fred-u6rate_stock-onc_monthly_5y