Share-o-matic - Assessment PPVX (Photon Photovoltaik-Aktienindex)

Assessment - Photon Photovoltaik-Aktienindex in Euro - 9/25/23 - RS = 37

		⇓instrument	freshest		Δday	9/25/23	⇓ Δwk	1/09/23	prc diff	⇓ Δ37	⇓∅-RS
	S	SOM Price Index	3,382.066	Fri	0.45	3,394.432	-0.36	4,148.999	-754.566	-18.19	-17.82
	S	Xinyi Solar	0.708	Fri	5.02	0.668	5.97	1.173	-0.505	-43.03	-33.75
	L	Solaria Energía	14.650	Fri	3.90	13.800	6.16	17.940	-4.140	-23.08	-10.85
	S	JinkoSolar	28.669	Fri	3.65	25.054	14.43	45.677	-20.623	-45.15	-40.53
	S	Encavis	13.325	Fri	3.21	12.760	4.43	17.880	-5.120	-28.64	-22.77
	S	Flat Glass	2.127	Fri	2.92	2.047	3.90	2.658	-0.611	-22.99	-19.69
	S	GCL Poly Energy	0.176	Fri	2.82	0.163	8.15	0.247	-0.084	-33.89	-27.35
	S	Scatec	5.511	Fri	2.11	5.494	0.32	7.920	-2.427	-30.64	-19.32
	S	Sunrun	11.857	Fri	2.11	12.036	-1.49	21.360	-9.324	-43.65	-37.59
	S	Daqo New Energy	28.575	Fri	1.85	28.424	0.53	36.843	-8.419	-22.85	-29.11
		Nextracker	37.854	Fri	1.52	38.128	-0.72				-na-
	S	SunPower	5.824	Fri	1.15	5.758	1.15	15.641	-9.883	-63.18	-51.57
	S	Sunnova Energy	9.884	Fri	1.06	10.337	-4.38	16.199	-5.862	-36.19	-36.61
	L	BCPG	0.251	Fri	1.05	0.260	-3.52	0.278	-0.018	-6.55	0.26
	S	United Renewable	0.433	Fri	1.03	0.436	-0.67	0.629	-0.193	-30.71	-26.72
	L	Neoen	27.620	Fri	0.58	28.000	-1.36	35.680	-7.680	-21.52	-10.35
	S	Enphase Energy	113.422	Fri	0.11	114.319	-0.78	211.962	-97.644	-46.07	-37.81
	S	First Solar	152.541	Fri	0.06	155.137	-1.67	148.013	7.124	4.81	-5.57
		ReNew Energy Global	5.126	Fri		5.343	-4.06	5.077	0.266	5.23	1.45
		Sino-American Sili	4.609	Fri		4.711	-2.18	4.764	-0.052	-1.10	1.74
		Xinte Energy	1.868	Fri	-0.13	1.808	3.34	1.786	0.022	1.24	-9.58
	L	West Holdings	20.400	Fri	-0.62	20.432	-0.16	30.887	-10.455	-33.85	-7.99
	S	Canadian Solar	23.232	Fri	-0.73	23.789	-2.34	35.866	-12.078	-33.67	-29.21
	S	SolarEdge	122.258	Fri	-0.94	124.486	-1.79	264.223	-139.737	-52.89	-47.61
	S	SMA Solar	61.450	Fri	-1.21	63.000	-2.46	68.500	-5.500	-8.03	-12.31
		⇓instrument	freshest		Δday	9/25/23	⇓ Δwk	1/09/23	prc diff	⇓ Δ37	⇓∅-RS
	S	Maxeon Solar	10.941	Fri	-1.53	11.470	-4.61	16.534	-5.064	-30.63	-42.50
	S	Grenergy Renovables	20.680	Fri	-1.71	22.800	-9.30	27.000	-4.200	-15.56	-18.99
		Enlight Renewable	1,493.413	Fri	-2.63	1,575.938	-5.24	1,903.431	-327.493	-17.21	-9.77
	S	Meyer Burger	0.384	Fri	-3.34	0.376	2.20	0.559	-0.183	-32.74	-28.94
	S	Shoals Technologies	17.228	Fri	-3.44	19.107	-9.83	21.639	-2.532	-11.70	-12.79
		Array Tech	20.947	Fri	-4.35	21.844	-4.11	18.077	3.767	20.84	14.75
PPVX - 29 out of 30 instruments rated - 9/25/23 / 1/09/23 - 4 did rise, Market-Ratio(37) in EUR = 13.79 %

Technical Chart

	PPVX RS = 37 - B/S = 52/31

1/07/19	scale up chart	9/25/23

Transactions Photon Photovoltaik-Aktienindex in Euro * A37 - 52/31 (1)

													⇐
L/S	date buy	date sell	days		instrument	spl	pieces	prc buy	prc sell	ps short	prc diff	d %	asset	yield
1/02/06		11/13/06	315		- cash -
short	11/13/06	2/05/07	84		Beijing Energy	100	649,889	0.015	0.013	0.018	0.003	20	11,958	117
long	2/05/07	6/23/08	504		SunPower	100	338	35.326	52.957		17.631	50	17,917	34
short	6/23/08	7/06/09	378		JA Solar Energy	100	319	56.129	13.520	233.015	176.886	315	74,344	295
long	7/06/09	7/18/11	742		GCL Poly Energy	100	306,104	0.243	0.367		0.124	51	112,373	23
short	7/18/11	1/14/13	546		REC Silicon	100	12,171	9.232	1.613	52.852	43.620	472	643,266	221
long	1/14/13	10/06/14	630		SFCE	100	11,472,875	0.056	0.791		0.735	1,310	9,071,222	363
short	10/06/14	4/20/15	196		SMA Solar	100	458,142	19.800	14.680	26.706	6.906	35	12,235,014	75
long	4/20/15	5/11/15	21		Encavis	100	1,897,489	6.448	6.809		0.361	6	12,920,007	158
short	5/11/15	6/29/15	49		REC Silicon	100	6,138,130	2.105	1.957	2.264	0.159	8	13,896,727	72
long	6/29/15	7/27/15	28		Encavis	100	2,181,589	6.370	7.409		1.039	16	16,163,398	617
short	7/27/15	7/03/17	707		SFCE	100	52,440,772	0.308	0.050	1.917	1.609	522	101m	157
long	7/03/17	7/16/18	378		Beijing Energy	100	866,475,351	0.116	0.059		-0.057	-49	50,918,662	-48
short	7/16/18	4/29/19	287		Beijing Energy	100	866,475,352	0.059	0.038	0.090	0.032	54	78,329,372	73
long	4/29/19	9/20/21	875		Enphase Energy	100	8,579,559	9.130	130.001		120.871	1,324	1,115m	203
short	9/20/21	11/22/21	63		Scatec	100	68,944,244	16.178	16.171	16.184	0.007	0	1,116m	0
long	11/22/21	12/20/21	28		GCL Poly Energy	100	2831,414,911	0.394	0.265		-0.129	-33	749m	-99
short	12/20/21	8/22/22	245		Daqo New Energy	100	22,238,981	33.701	62.701	4.701	-29.000	-86	105m	-95
long	8/22/22	12/19/22	119		Array Tech	100	5,066,016	20.635	19.241		-1.394	-7	97,477,488	-19
short	12/19/22	1/16/23	28		Flat Glass	100	43,881,325	2.221	2.694	1.749	-0.472	-21	76,744,051	-96
long	1/16/23	2/20/23	35		First Solar	100	460,736	166.568	153.701		-12.867	-8	70,815,624	-57
short	2/20/23	9/29/23	221		Scatec	100	10,618,848	6.669	5.511	8.070	1.401	21	85,690,920	37
accum	11/13/06	9/29/23	6165	days out of 6480 invested (95%)							856,809		85,690,920	71

Instrument Related Contribution

instrument	L/S	date buy	date sell	days	prc buy	prc sell	ps short	prc diff	d %	total
SFCE	long	1/14/13	10/06/14	630	0.06	0.79		0.73	1,310.18
	short	7/27/15	7/03/17	707	0.31	0.05	1.92	1.61	521.92	8,670.23
Enphase Energy	long	4/29/19	9/20/21	875	9.13	130.00		120.87	1,323.92	1,323.92
REC Silicon	short	7/18/11	1/14/13	546	9.23	1.61	52.85	43.62	472.47
	short	5/11/15	6/29/15	49	2.10	1.96	2.26	0.16	7.56	515.75
JA Solar Energy	short	6/23/08	7/06/09	378	56.13	13.52	233.01	176.89	315.14	315.14
SunPower	long	2/05/07	6/23/08	504	35.33	52.96		17.63	49.91	49.91
SMA Solar	short	10/06/14	4/20/15	196	19.80	14.68	26.71	6.91	34.88	34.88
Encavis	long	4/20/15	5/11/15	21	6.45	6.81		0.36	5.60
	long	6/29/15	7/27/15	28	6.37	7.41		1.04	16.31	22.82
Scatec	short	9/20/21	11/22/21	63	16.18	16.17	16.18	0.01	0.04
	short	2/20/23	9/29/23	221	6.67	5.51	8.07	1.40	21.01	21.06
GCL Poly Energy	long	7/06/09	7/18/11	742	0.24	0.37		0.12	51.15
	long	11/22/21	12/20/21	28	0.39	0.26		-0.13	-32.83	1.53
Array Tech	long	8/22/22	12/19/22	119	20.64	19.24		-1.39	-6.75	-6.75
Beijing Energy	short	11/13/06	2/05/07	84	0.02	0.01	0.02	0.00	19.58
	long	7/03/17	7/16/18	378	0.12	0.06		-0.06	-49.35
	short	7/16/18	4/29/19	287	0.06	0.04	0.09	0.03	53.83	-6.82
First Solar	long	1/16/23	2/20/23	35	166.57	153.70		-12.87	-7.72	-7.72
Flat Glass	short	12/19/22	1/16/23	28	2.22	2.69	1.75	-0.47	-21.27	-21.27
Daqo New Energy	short	12/20/21	8/22/22	245	33.70	62.70	4.70	-29.00	-86.05	-86.05

Annotations

2/10/23	PPVX	Nextracker replaces Beijing Energy
2/06/23	Enlight Renewable	reverse split 10:1 (one for ten)
9/25/22	PPVX	Maxeon Solar Technologies replaces Azure Power Global
10/29/21	PPVX	ReNew Energy Global replaces Soltec Power
7/29/21	United Renewable	reverse stock split 0.5658:1
7/23/21	PPVX	Xinte Energy replaces Maxeon
6/25/21	PPVX	Enlight Renewable Energy and Flat Glass Group replace Solarpack and Renesola
4/01/21	GCL Poly Energy	suspended
2/05/21	PPVX	Shoals Technologies Group replaces SPCG
1/25/21	PPVX	Grenergy Renovables and ReneSola replace Motech Industries and Shinsung E&G
11/17/20	Daqo New Energy	stock split 1:5 (five for one)
10/31/20	PPVX	Soltec Power replaces REC Silicon
10/23/20	PPVX	Array Technologies and REC Silicon replace 7C Solarparken and Tainergy
10/08/20	PPVX	Tainergy Tech replaces Vivint Solar (acquired by Sunrun)
9/21/20	PPVX	Motech Industries and Shinsung E&G replace China Shuifa Singyes and Thai Solar Energy
3/27/20	PPVX	China Singyes Solar and Edisun Power Europe replace Motech and Terraform Power
12/28/19	PPVX	Motech replaces SFCE
11/08/19	PPVX	Neoen replaces REC Silicon
7/29/19	PPVX	Sunnova replaces Shinsung E&G
2/16/19	PPVX	7C Solarparken replaces China Singyes Solar
12/10/18	PPVX	SFCE and Solarapack replace Motech Industries and Green Energy Technology
10/01/18	PPVX	Thai Solar Energy returns for Gintech Energy (merger with Neo Solar Power)
7/20/18	PPVX	West Holdings replaces JA Solar
7/17/18	PPVX	JA Solar exits due to becoming private (mergered with JASO Acquisition Holding as wholly owner)
6/25/18	Green Energy T	returns replacing 8point3
6/21/18	8point3	drops out due to acquisition by Capital Dynamics
5/18/18	PPVX	Enphase Energy replaces Thai Solar Energy PCL (exit due to low stock market value)
2/27/18	Capital Stage	renames into Encavis (ENergy + CApital + VISion)
2/16/18	PPVX	Solaria Energía replaces SFCE (market value falls below exit threshold)
12/30/17	PPVX	Vivint Solar replaces TerraForm Global (acquired by Brookfield Asset Management)
8/11/17	PPVX	Shinsung E&G replaces Green Energy Technology
3/14/17	PPVX	Azure Power Global replaces Trina Solar
11/25/16	PPVX	Thai Solar Energy replaces SolarCity (acquired by Tesla)
11/04/16	PPVX	SPCG replaces SPI
10/08/16	Chorus	is replaced by BCPG
8/08/16	Capital Stage	acquires Chorus Clean Energy
6/03/16	PPVX	complete analysis - all techniques have been refreshed using new market composition
6/02/16	Solarenergie	Change Of Composition This market matches the PPVX (Photon Photovoltaiics Stock Index) regarding composition now. The PPVX is a cooperation of PHOTON International GmbH, Berlin and Öko-Invest-Verlags-GmbH, Vienna. The index here is not the original PPVX but the Share-o-matic standard index, an equal weighted price index in USD starting in 2005 at 100 points. The standard techniques have been re-calculated, best practice analysis is in progress.
1/01/16	Sunrun	recording started
8/18/15	Solarenergie	complete analysis
7/01/15	Scatec Solar	monitoring started
3/14/15	Solar Energy	first complete analysis


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