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BeOne Medicines Ltd. American Depositary Shares (ONC) vs U-6 Unemployment Rate
Correlation
of % moves
+32%
In sync
of periods
57%
History
monthsmonths · through 2026-08
19
These move in the same direction about 57% of the time
Their swing sizes only faintly line up (~10% 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.
Advanced
Statistics
In sync(i)
57%
Headline metric
Movement correlation(i)
+32%
Based on % moves
95% CI
-19% → +69%
Pipeline
Pipeline Summary
19 paired data points survived the monthly window.
Raw input
423
391
Normalized
423
391
Prepared
21
391
Aligned
19
19
Invalid removed
Likely range of correlation
R²(i)
10%
Variance explained
Significance
n.s.
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: -3 to 3 months.
Selected shift
No shift
Correlation at this shift
+32%
No shift — both series at their actual dates.
17 overlapping points at this shift
Baseline
+32%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+32%
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
4 periods · Return correlation when both series fell
Diverging
-52%
9 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 · 423 raw → 21 prepared
Series B
U-6 Unemployment Rate
U6RATE
FRED · 391 raw → 391 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
5
Estimated crossover points between normalized spreads.
Slope
0.0891
Linear regression slope.
Intercept
-0.0054
Linear regression intercept.
Saved 4 months ago · ID: fred-u6rate_stock-onc_monthly_5y