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BeOne Medicines Ltd. American Depositary Shares (ONC) vs Spot Crude Oil Price: West Texas Intermediate
Correlation
of % moves
-51%
In sync
of periods
60%
History
monthsmonths · through 2026-04
16
These move in the same direction about 60% of the time
Their swing sizes loosely mirror each other (~26% 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)
60.0%
Headline metric
Movement correlation(i)
-51%
Based on % moves
95% CI
-81% → -0%
Pipeline
Pipeline Summary
16 paired data points survived the monthly window.
Raw input
348
964
Normalized
348
964
Prepared
17
964
Aligned
16
16
Invalid removed
Likely range of correlation
R²(i)
26.3%
Variance explained
Significance
n.s.
Statistical confidence
Data points
16
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: -5 to 5 months.
Selected shift
No shift
Correlation at this shift
-51%
No shift — both series at their actual dates.
15 overlapping points at this shift
Baseline
-51%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-51%
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
+22%
5 periods · Return correlation when both series rose
Both Falling
N/A
4 periods · Return correlation when both series fell
Diverging
-98%
6 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
949
A: 1 / B: 948
Series A
BeOne Medicines Ltd. American Depositary Shares (ONC)
ONC
Stock · 348 raw → 17 prepared
Series B
Spot Crude Oil Price: West Texas Intermediate
WTISPLC
FRED · 964 raw → 964 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
2
Estimated crossover points between normalized spreads.
Slope
-0.6235
Linear regression slope.
Intercept
0.0357
Linear regression intercept.
Saved 2 weeks ago · ID: fred-wtisplc_stock-onc_monthly_5y