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BeOne Medicines Ltd. American Depositary Shares (ONC) vs Unemployment Rate
Correlation
of % moves
+40%
In sync
of periods
70%
History
monthsmonths · through 2026-04
15
These move in the same direction about 70% of the time
Their swing sizes loosely line up (~16% of the pattern is shared).
Strong enough to use as a signal — check the stability and regime notes below before relying on it.
Both lines start at the same point — easy to compare when growth rates are similar.
Advanced
Statistics
In sync(i)
70.0%
Headline metric
Movement correlation(i)
+40%
Based on % moves
95% CI
-17% → +77%
Pipeline
Pipeline Summary
15 paired data points survived the monthly window.
Raw input
348
939
Normalized
348
939
Prepared
17
939
Aligned
15
15
Invalid removed
Likely range of correlation
R²(i)
16.0%
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
No shift
Correlation at this shift
+40%
No shift — both series at their actual dates.
14 overlapping points at this shift
Baseline
+40%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+40%
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
-40%
7 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
926
A: 2 / B: 924
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 348 raw → 17 prepared
Series B
Unemployment Rate
UNRATE
FRED · 939 raw → 939 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.1264
Linear regression slope.
Intercept
0.0015
Linear regression intercept.
Saved 2 weeks ago · ID: fred-unrate_stock-onc_monthly_5y