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Assessment - Photon Photovoltaik-Aktienindex - 4/15/24 - RS = 46

		⇓instrument	freshest		⇓ Δday	4/15/24	⇓ Δwk	5/29/23	prc diff	⇓ Δ46	Curr	∅-RS
	S	SOM Price Index	2,656.960	Fri	-1.31	2,739.360	-3.01	4,470.620	-1,731.260	-38.73	USD	-24.21
	L	Sino-American Sili	208.500	Mon	-1.42	208.500		159.500	49.000	30.72	TWD	20.62
	L	Encavis	16.890	Fri	0.06	16.870	0.12	15.125	1.745	11.54	EUR	20.50
		Nextracker	44.830	Mon	-5.02	44.830		38.970	5.860	15.04	USD	7.48
	L	Flat Glass	16.560	Fri	-2.01	18.540	-10.68	23.850	-5.310	-22.26	HKD	6.63
		Neoen	29.940	Fri	-1.38	28.040	6.78	28.500	-0.460	-1.61	EUR	3.99
	L	First Solar	175.040	Fri	0.43	175.960	-0.52	201.770	-25.810	-12.79	USD	3.91
	L	Xinyi Solar	5.280	Fri	-2.76	5.910	-10.66	8.030	-2.120	-26.40	HKD	3.44
		Grenergy Renovables	26.550	Fri	-5.18	26.700	-0.56	25.960	0.740	2.85	EUR	2.14
		Scatec	66.700	Fri	-4.30	71.300	-6.45	72.300	-1.000	-1.38	NOK	1.40
	S	Enlight Renewable	6,159.000	Thu	0.08	6,029.000	2.16	6,652.000	-623.000	-9.37	ILS	-4.16
	S	West Holdings	2,676.000	Fri	-5.04	2,682.000	-0.22	2,799.000	-117.000	-4.18	JPY	-8.91
	S	ReNew Energy Global	5.650	Fri	1.99	5.380	5.02	5.430	-0.050	-0.92	USD	-9.96
	L	Enphase Energy	106.480	Fri	-2.46	112.470	-5.33	165.200	-52.730	-31.92	USD	-10.75
	L	GCL Poly Energy	1.090	Fri	-1.80	1.130	-3.54	1.780	-0.650	-36.52	HKD	-15.16
	L	Daqo New Energy	22.110	Fri	-2.64	23.730	-6.83	38.190	-14.460	-37.86	USD	-17.74
	S	BCPG	6.250	Fri	-6.72	7.050	-11.35	9.200	-2.150	-23.37	THB	-19.93
		United Renewable	12.250	Thu	2.51	11.900	2.94	20.300	-8.400	-41.38	TWD	-22.11
	S	Sunrun	10.250	Fri	1.38	10.690	-4.12	16.830	-6.140	-36.48	USD	-24.97
	L	Xinte Energy	9.020	Fri	-5.15	9.420	-4.25	16.640	-7.220	-43.39	HKD	-25.42
	S	SMA Solar	45.960	Fri	-3.36	48.020	-4.29	100.800	-52.780	-52.36	EUR	-27.37
	S	Altus Power	3.780	Fri	-2.07	3.950	-4.30	4.760	-0.810	-17.02	USD	-28.22
	S	Solaria Energía	9.655	Fri	-3.64	9.490	1.74	13.890	-4.400	-31.68	EUR	-30.91
		Array Tech	11.270	Fri	2.73	12.140	-7.17	23.030	-10.890	-47.29	USD	-30.96
	S	JinkoSolar	21.560	Fri	-0.46	22.760	-5.27	45.050	-22.290	-49.48	USD	-31.13
		⇓instrument	freshest		⇓ Δday	4/15/24	⇓ Δwk	5/29/23	prc diff	⇓ Δ46	Curr	∅-RS
	S	Canadian Solar	14.410	Fri	-0.83	15.690	-8.16	43.560	-27.870	-63.98	USD	-39.63
	L	SolarEdge	55.800	Fri	-2.77	60.440	-7.68	294.410	-233.970	-79.47	USD	-45.80
	S	Shoals Technologies	8.290	Fri	0.97	8.720	-4.93	23.630	-14.910	-63.10	USD	-48.90
		SunPower	2.210	Fri	-2.21	2.360	-6.36	10.270	-7.910	-77.02	USD	-54.52
	S	Sunnova Energy	3.800	Fri	0.53	4.100	-7.32	16.480	-12.380	-75.12	USD	-62.41
	S	Meyer Burger	0.010	Fri	2.00	0.010	5.15	0.579	-0.569	-98.32	CHF	-92.75
PPVX - 30 out of 30 instruments rated - 4/15/24 / 5/29/23 - 4 did rise, Market-Ratio(46) = 13.33 %

Technical Chart

	PPVX RS = 46 - B/S = 51/51

1/06/20	scale up chart	4/15/24

Transactions Photon Photovoltaik-Aktienindex * S46 - 51 ex 9 (1)

														⇐
L/S	date buy	date sell	days		instrument	spl	pieces	Curr	prc buy	prc sell	ps short	prc diff	d %	asset	yield
1/02/06		11/10/08	1043		- cash -
short	11/10/08	8/24/09	287		Solaria Energía	100	4,184	EUR	2.390	2.305	2.478	0.088	4	10,369	5
8/24/09		4/12/10	231		- cash -
	4/12/10	5/10/10	28		SunPower	100	565	USD	18.320	15.290	21.951	3.631	20	12,420	956
5/10/10		5/17/10	7		- cash -
	5/17/10	7/12/10	56		SunPower	100	1,028	USD	12.070	13.810	10.330	-1.740	-14	10,631	-64
7/12/10		7/26/10	14		- cash -
	7/26/10	9/06/10	42		West Holdings	100	5,405	JPY	1.967	2.227	1.707	-0.260	-13	9,226	-71
9/06/10		10/11/10	35		- cash -
	10/11/10	11/08/10	28		Solaria Energía	100	6,109	EUR	1.510	1.545	1.475	-0.035	-2	9,012	-26
11/08/10		11/22/10	14		- cash -
	11/22/10	11/29/10	7		Solaria Energía	100	6,302	EUR	1.430	1.310	1.561	0.131	9	9,838	9,559
11/29/10		1/17/11	49		- cash -
	1/17/11	1/24/11	7		SMA Solar	100	152	EUR	64.580	73.860	55.300	-9.280	-14	8,427	-100
1/24/11		2/14/11	21		- cash -
	2/14/11	2/21/11	7		West Holdings	100	3,679	JPY	2.290	2.377	2.203	-0.087	-4	8,108	-87
2/21/11		7/11/11	140		- cash -
	7/11/11	9/26/11	77		Enlight Renewable	100	28	ILS	282.000	316.000	248.000	-34.000	-12	7,156	-46
	9/26/11	10/29/12	399		JinkoSolar	100	1,204	USD	5.940	3.940	8.955	3.015	51	10,787	46
	10/29/12	1/21/13	84		SMA Solar	100	651	EUR	16.550	21.170	11.930	-4.620	-28	7,779	-76
1/21/13		2/04/13	14		- cash -
	2/04/13	2/11/13	7		Meyer Burger	100	974	CHF	7.980	8.380	7.580	-0.400	-5	7,389	-93
2/11/13		3/25/13	42		- cash -
	3/25/13	4/08/13	14		Meyer Burger	100	1,030	CHF	7.170	7.630	6.710	-0.460	-6	6,915	-82
4/08/13		10/06/14	546		- cash -
	10/06/14	10/27/14	21		SMA Solar	100	349	EUR	19.800	18.890	20.754	0.954	5	7,248	127
10/27/14		11/10/14	14		- cash -
	11/10/14	4/13/15	154		SMA Solar	100	382	EUR	18.970	13.765	26.143	7.173	38	9,989	114
4/13/15		4/20/15	7		- cash -
	4/20/15	4/27/15	7		West Holdings	100	1,096	JPY	9.110	8.910	9.315	0.205	2	10,213	218
4/27/15		5/04/15	7		- cash -
	5/04/15	11/02/15	182		West Holdings	100	1,211	JPY	8.430	7.000	10.152	1.722	20	12,298	45
11/02/15		11/16/15	14		- cash -
	11/16/15	12/21/15	35		Enphase Energy	100	5,800	USD	2.120	3.590	0.650	-1.470	-69	3,772	-100
12/21/15		1/04/16	14		- cash -
	1/04/16	1/16/17	378		Enphase Energy	100	1,080	USD	3.490	1.650	7.382	3.892	112	7,975	106
	1/16/17	7/03/17	168		Meyer Burger	100	9,969	CHF	0.800	1.230	0.370	-0.430	-54	3,689	-81
7/03/17		7/16/18	378		- cash -
	7/16/18	7/23/18	7		Meyer Burger	100	4,279	CHF	0.862	0.679	1.094	0.232	27	4,683	> 999,999
7/23/18		8/13/18	21		- cash -
	8/13/18	1/07/19	147		Meyer Burger	100	6,846	CHF	0.684	0.726	0.642	-0.042	-6	4,395	-15
	1/07/19	4/22/19	105		SMA Solar	100	251	EUR	17.480	21.020	13.940	-3.540	-20	3,507	-54
4/22/19		5/27/19	35		- cash -
	5/27/19	6/03/19	7		GCL Poly Energy	100	7,541	HKD	0.465	0.475	0.455	-0.010	-2	3,431	-68
6/03/19		3/23/20	294		- cash -
	3/23/20	3/30/20	7		Meyer Burger	100	26,172	CHF	0.131	0.165	0.097	-0.034	-26	2,541	-100
L/S	date buy	date sell	days		instrument	spl	pieces	Curr	prc buy	prc sell	ps short	prc diff	d %	asset	yield
3/30/20		11/08/21	588		- cash -
	11/08/21	3/28/22	140		Scatec	100	15	NOK	166.200	127.700	216.307	50.107	30	3,293	99
3/28/22		4/18/22	21		- cash -
	4/18/22	6/20/22	63		Shoals Technologies	100	261	USD	12.600	19.570	5.630	-6.970	-55	1,474	-99
	6/20/22	8/08/22	49		Scatec	100	16	NOK	89.420	113.550	65.290	-24.130	-27	1,088	-90
8/08/22		9/05/22	28		- cash -
	9/05/22	9/12/22	7		Flat Glass	100	47	HKD	22.750	24.450	21.050	-1.700	-7	1,008	-98
9/12/22		9/19/22	7		- cash -
	9/19/22	11/28/22	70		Flat Glass	100	47	HKD	21.300	19.420	23.362	2.062	10	1,105	62
11/28/22		1/30/23	63		- cash -
	1/30/23	3/06/23	35		SunPower	100	67	USD	16.410	15.760	17.087	0.677	4	1,150	52
3/06/23		3/13/23	7		- cash -
	3/13/23	4/17/23	35		Scatec	100	17	NOK	64.520	75.900	53.140	-11.380	-18	957	-87
	4/17/23	7/10/23	84		Altus Power	100	190	USD	5.020	6.000	4.040	-0.980	-20	770	-61
	7/10/23	4/19/24	284		SunPower	100	82	USD	9.350	2.210	39.558	30.208	323	3,247	538
accum	11/10/08	4/19/24	3029	days out of 6683 invested (45%)								-68		3,247	-13

Instrument Related Contribution

instrument	L/S	date buy	date sell	days	prc buy	prc sell	ps short	prc diff	d %	total
SunPower	short	4/12/10	5/10/10	28	18.32	15.29	21.95	3.63	19.82
		5/17/10	7/12/10	56	12.07	13.81	10.33	-1.74	-14.42
		1/30/23	3/06/23	35	16.41	15.76	17.09	0.68	4.12
		7/10/23	4/19/24	284	9.35	2.21	39.56	30.21	323.08	351.73
JinkoSolar		9/26/11	10/29/12	399	5.94	3.94	8.96	3.02	50.76	50.76
Solaria Energía		11/10/08	8/24/09	287	2.39	2.31	2.48	0.09	3.69
		10/11/10	11/08/10	28	1.51	1.55	1.48	-0.03	-2.32
		11/22/10	11/29/10	7	1.43	1.31	1.56	0.13	9.16	10.56
West Holdings		7/26/10	9/06/10	42	1.97	2.23	1.71	-0.26	-13.22
		2/14/11	2/21/11	7	2.29	2.38	2.20	-0.09	-3.79
		4/20/15	4/27/15	7	9.11	8.91	9.31	0.20	2.24
		5/04/15	11/02/15	182	8.43	7.00	10.15	1.72	20.43	2.81
Flat Glass		9/05/22	9/12/22	7	22.75	24.45	21.05	-1.70	-7.47
		9/19/22	11/28/22	70	21.30	19.42	23.36	2.06	9.68	1.48
GCL Poly Energy		5/27/19	6/03/19	7	0.47	0.48	0.46	-0.01	-2.15	-2.15
Enlight Renewable		7/11/11	9/26/11	77	282.00	316.00	248.00	-34.00	-12.06	-12.06
Altus Power		4/17/23	7/10/23	84	5.02	6.00	4.04	-0.98	-19.52	-19.52
Scatec		11/08/21	3/28/22	140	166.20	127.70	216.31	50.11	30.15
		6/20/22	8/08/22	49	89.42	113.55	65.29	-24.13	-26.99
		3/13/23	4/17/23	35	64.52	75.90	53.14	-11.38	-17.64	-21.73
SMA Solar		1/17/11	1/24/11	7	64.58	73.86	55.30	-9.28	-14.37
		10/29/12	1/21/13	84	16.55	21.17	11.93	-4.62	-27.92
		10/06/14	10/27/14	21	19.80	18.89	20.75	0.95	4.82
		11/10/14	4/13/15	154	18.97	13.77	26.14	7.17	37.81
		1/07/19	4/22/19	105	17.48	21.02	13.94	-3.54	-20.25	-28.89
instrument	L/S	date buy	date sell	days	prc buy	prc sell	ps short	prc diff	d %	total
Enphase Energy		11/16/15	12/21/15	35	2.12	3.59	0.65	-1.47	-69.34
		1/04/16	1/16/17	378	3.49	1.65	7.38	3.89	111.52	-35.15
Shoals Technologies		4/18/22	6/20/22	63	12.60	19.57	5.63	-6.97	-55.32	-55.32
Meyer Burger		2/04/13	2/11/13	7	7.98	8.38	7.58	-0.40	-5.01
		3/25/13	4/08/13	14	7.17	7.63	6.71	-0.46	-6.42
		1/16/17	7/03/17	168	0.80	1.23	0.37	-0.43	-53.75
		7/16/18	7/23/18	7	0.86	0.68	1.09	0.23	26.95
		8/13/18	1/07/19	147	0.68	0.73	0.64	-0.04	-6.14
		3/23/20	3/30/20	7	0.13	0.17	0.10	-0.03	-25.93	-63.72

Annotations

11/13/23	PPVX	Altus Power replaces Maxeon
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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