ONC vs. BIIB
ONC (BeOne Medicines Ltd) and BIIB (Biogen Inc.) are both stocks. Both are in the Healthcare sector — ONC in Biotechnology, BIIB in Drug Manufacturers - General. Over the past 10 years, ONC returned 28.51%/yr vs -4.75%/yr for BIIB. Their 0.25 correlation means their historical movements had little consistent relationship.
Performance
ONC vs. BIIB - Performance Comparison
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Returns By Period
In the year-to-date period, ONC achieves a 4.02% return, which is significantly lower than BIIB's 15.32% return. Over the past 10 years, ONC has outperformed BIIB with an annualized return of 28.51%, while BIIB has yielded a comparatively lower -4.75% annualized return.
ONC
- 1D
- -1.88%
- 1M
- 6.17%
- 6M
- -7.16%
- YTD
- 4.02%
- 1Y
- 5.69%
- 3Y*
- 15.23%
- 5Y*
- -0.04%
- 10Y*
- 28.51%
- ALL TIME*
- 25.59%
BIIB
- 1D
- -2.40%
- 1M
- -6.09%
- 6M
- 12.82%
- YTD
- 15.32%
- 1Y
- 53.81%
- 3Y*
- -9.00%
- 5Y*
- -9.08%
- 10Y*
- -4.75%
- ALL TIME*
- 12.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BIIB Biogen Inc. | $225.19M | $295.08M | $249.24M |
| $113.27M | $116.64M | $92.58M |
ONC vs. BIIB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ONC BeOne Medicines Ltd | 4.02% | 64.48% | 2.41% | -18.00% | -18.82% | 4.85% | 55.88% | 18.18% | 43.53% | 221.87% |
BIIB Biogen Inc. | 15.32% | 15.09% | -40.91% | -6.55% | 15.42% | -2.02% | -17.48% | -1.39% | -5.54% | 12.34% |
Correlation
The correlation between ONC and BIIB is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.25 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.25 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2016 | 0.25 |
Fundamentals
ONC:
$33.77B
BIIB:
$29.99B
ONC:
$4.48
BIIB:
$5.65
ONC:
70.58
BIIB:
35.90
ONC:
6.31
BIIB:
3.01
ONC:
7.69
BIIB:
1.60
ONC:
$5.74B
BIIB:
$9.95B
ONC:
$5.07B
BIIB:
$6.74B
ONC:
$954.09M
BIIB:
$1.67B
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Return for Risk
ONC vs. BIIB — Risk / Return Rank
ONC
BIIB
ONC vs. BIIB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BeOne Medicines Ltd (ONC) and Biogen Inc. (BIIB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ONC | BIIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.28 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 4.10 | -3.95 |
| Martin ratioReturn relative to average drawdown | 0.31 | 9.99 | -9.68 |
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Drawdowns
ONC vs. BIIB - Drawdown Comparison
The maximum ONC drawdown since its inception was -69.96%, smaller than the maximum BIIB drawdown of -89.98%. Use the drawdown chart below to compare losses from any high point for ONC and BIIB.
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Drawdown Indicators
| ONC | BIIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.96% | -89.98% | +20.02% |
Max Drawdown (1Y)Largest decline over 1 year | -31.05% | -14.34% | -16.71% |
Max Drawdown (3Y)Largest decline over 3 years | -39.36% | -58.64% | +19.28% |
Max Drawdown (5Y)Largest decline over 5 years | -69.96% | -67.59% | -2.37% |
Max Drawdown (10Y)Largest decline over 10 years | -69.96% | -72.66% | +2.70% |
Current DrawdownCurrent decline from peak | -21.61% | -57.36% | +35.75% |
Average DrawdownAverage peak-to-trough decline | -29.57% | -36.69% | +7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.83% | 5.88% | +9.95% |
Volatility
ONC vs. BIIB - Volatility Comparison
The current volatility for BeOne Medicines Ltd (ONC) is 7.82%, while Biogen Inc. (BIIB) has a volatility of 14.79%. This indicates that ONC experiences smaller price fluctuations and is considered to be less risky than BIIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ONC | BIIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.82% | 14.79% | -6.97% |
Volatility (6M)Calculated over the trailing 6-month period | 24.26% | 27.34% | -3.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.59% | 35.70% | +3.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.37% | 34.62% | +20.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.55% | 41.45% | +14.10% |
Dividends
ONC vs. BIIB - Dividend Comparison
Neither ONC nor BIIB has paid dividends to shareholders.
Financials
ONC vs. BIIB - Financials Comparison
This section allows you to compare key financial metrics between BeOne Medicines Ltd and Biogen Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ONC vs. BIIB - Profitability Comparison
ONC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, BeOne Medicines Ltd reported a gross profit of 1.35B and revenue of 1.51B. Therefore, the gross margin over that period was 89.0%.
BIIB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Biogen Inc. reported a gross profit of 1.56B and revenue of 2.74B. Therefore, the gross margin over that period was 56.9%.
ONC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, BeOne Medicines Ltd reported an operating income of 249.90M and revenue of 1.51B, resulting in an operating margin of 16.5%.
BIIB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Biogen Inc. reported an operating income of 318.10M and revenue of 2.74B, resulting in an operating margin of 11.6%.
ONC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, BeOne Medicines Ltd reported a net income of 227.36M and revenue of 1.51B, resulting in a net margin of 15.0%.
BIIB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Biogen Inc. reported a net income of 97.50M and revenue of 2.74B, resulting in a net margin of 3.6%.
Frequently Asked Questions
ONC and BIIB have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIIB has higher volatility (14.79%) compared to ONC (7.82%). In terms of maximum drawdown, ONC dropped -69.96% vs BIIB's -89.98%.
BIIB currently has the higher Sharpe Ratio (1.65 vs 0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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