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Wed, Apr 1st, 2026, 16:20UTC

Assessment - Photon Photovoltaik-Aktienindex - 1/15/18 - RS = 37

historical assessment - show freshest

		⇓instrument	freshest		⇓ Δday	1/15/18	⇓ Δwk	5/01/17	prc diff	Δ37	Curr	⇓∅-RS
	L	SOM Price Index	2,446.250	8/12/24	-1.07	1,855.050		1,367.770	487.280	35.63	USD	23.85
		Daqo New Energy	16.060	8/12/24	-4.74	13.648		3.792	9.856	259.92	USD	163.04
	L	First Solar	219.230	8/12/24	3.51	73.410		29.550	43.860	148.43	USD	79.03
	L	Solaria Energía	11.050	8/12/24	1.47	2.440		1.010	1.430	141.58	EUR	91.64
	S	SolarEdge	21.440	8/12/24	1.13	36.300		15.900	20.400	128.30	USD	74.43
		BCPG	5.550	8/09/24		26.500		13.400	13.100	97.76	THB	68.41
	L	Sino-American Sili	188.000	8/12/24	0.80	81.900		43.800	38.100	86.99	TWD	51.52
	L	Enphase Energy	109.110	8/12/24	1.16	2.090		1.200	0.890	74.17	USD	70.05
	S	SMA Solar	21.900	8/12/24	-1.26	37.800		23.750	14.050	59.16	EUR	30.75
	L	GCL Poly Energy	1.140	8/12/24		1.430		0.940	0.490	52.13	HKD	41.84
		Xinyi Solar	3.530	8/12/24	0.28	3.510		2.430	1.080	44.44	HKD	35.61
	L	JinkoSolar	18.850	8/12/24	-3.48	24.590		17.100	7.490	43.80	USD	19.35
	L	Enlight Renewable	6,019.000	8/12/24	-3.23	1,785.000		1,250.000	535.000	42.80	ILS	28.57
	S	Flat Glass	11.680	8/12/24	-3.63	2.320		1.710	0.610	35.67	HKD	50.81
	L	SunPower	0.200	8/12/24	-4.76	9.100		6.930	2.170	31.31	USD	15.42
	L	Scatec	84.600	8/12/24	-1.46	50.300		38.900	11.400	29.31	NOK	17.62
	L	Canadian Solar	13.200	8/12/24	-2.51	16.550		13.090	3.460	26.43	USD	11.17
	L	Sunrun	17.330	8/12/24	-3.13	6.360		5.380	0.980	18.22	USD	9.14
	L	Voltalia	10.180	8/12/24	-0.97	10.302		8.761	1.542	17.60	EUR	4.77
	L	Xinte Energy	7.540	8/12/24	1.62	8.460		7.250	1.210	16.69	HKD	8.11
		Encavis	17.000	8/12/24		6.710		6.320	0.390	6.17	EUR	6.77
	L	United Renewable	11.300	8/12/24	0.89	25.186		24.832	0.354	1.42	TWD	-1.39
	L	Grenergy Renovables	34.450	8/12/24	1.32	1.640		1.620	0.020	1.23	EUR	-1.59
		Altus Power	2.940	8/12/24	-6.96						USD	-na-
	L	Array Tech	7.030	8/12/24	-0.99						USD	-na-
		⇓instrument	freshest		⇓ Δday	1/15/18	⇓ Δwk	5/01/17	prc diff	Δ37	Curr	⇓∅-RS
	L	Neoen	38.380	8/12/24	-0.10						EUR	-na-
	L	Nextracker	38.980	8/12/24	-2.01						USD	-na-
		ReNew Energy Global	5.880	8/12/24	-0.84						USD	-na-
	S	Shoals Technologies	5.130	8/12/24	0.20						USD	-na-
	L	Sunnova Energy	6.620	8/12/24	-4.47						USD	-na-
		West Holdings	2,142.000	8/09/24	-1.38	750.000		783.000	-33.000	-4.21	JPY	-3.98
PPVX - 23 out of 30 instruments rated - 1/15/18 / 5/01/17 - 22 did rise, Market-Ratio(37) = 95.65 %

Technical Chart

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

1/03/22	scale up chart	7/01/24

Transactions Photon Photovoltaik-Aktienindex * A37 - 52/31 (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		11/13/06	315		- cash -
short	11/13/06	2/05/07	84		Beijing Energy	100	64,935	HKD	0.154	0.130	0.182	0.028	18	11,844	109
long	2/05/07	6/23/08	504		SunPower	100	258	USD	45.790	82.650		36.860	80	21,354	53
short	6/23/08	7/06/09	378		JA Solar Energy	100	243	USD	87.600	18.900	406.019	318.419	363	98,730	340
long	7/06/09	7/18/11	742		GCL Poly Energy	100	37,539	HKD	2.630	4.050		1.420	54	152,035	24
short	7/18/11	1/14/13	546		REC Silicon	100	2,094	NOK	72.600	11.900	442.921	370.321	510	927,487	235
long	1/14/13	10/06/14	630		SFCE	100	1,599,116	HKD	0.580	7.760		7.180	1,238	12,409,140	349
short	10/06/14	4/20/15	196		SMA Solar	100	626,724	EUR	19.800	14.680	26.706	6.906	35	16,737,108	75
long	4/20/15	5/11/15	21		Encavis	100	2,595,705	EUR	6.448	6.809		0.361	6	17,674,158	158
short	5/11/15	6/29/15	49		REC Silicon	100	994,606	NOK	17.770	17.280	18.274	0.504	3	18,175,340	23
long	6/29/15	7/27/15	28		Encavis	100	2,853,271	EUR	6.370	7.409		1.039	16	21,139,888	617
short	7/27/15	7/03/17	707		SFCE	100	7,977,316	HKD	2.650	0.440	15.960	13.310	502	127m	153
long	7/03/17	7/16/18	378		Beijing Energy	100	123,611,222	HKD	1.030	0.540		-0.490	-48	66,750,061	-46
short	7/16/18	4/29/19	287		Beijing Energy	100	123,611,223	HKD	0.540	0.335	0.870	0.330	61	108m	84
long	4/29/19	9/20/21	875		Enphase Energy	100	10,537,826	USD	10.210	152.440		142.230	1,393	1,606m	209
short	9/20/21	11/22/21	63		Scatec	100	9,694,545	NOK	165.700	162.250	169.223	3.523	2	1,641m	13
long	11/22/21	12/20/21	28		GCL Poly Energy	100	475,519,988	HKD	3.450	2.330		-1.120	-32	1,108m	-99
short	12/20/21	8/22/22	245		Daqo New Energy	100	29,118,569	USD	38.050	62.290	13.810	-24.240	-64	402m	-78
long	8/22/22	12/19/22	119		Array Tech	100	19,615,973	USD	20.500	20.450		-0.050	0	401m	-1
short	12/19/22	1/16/23	28		Flat Glass	100	21,848,946	HKD	18.360	22.750	13.970	-4.390	-24	305m	-97
long	1/16/23	2/20/23	35		First Solar	100	1,693,933	USD	180.190	164.280		-15.910	-9	278m	-62
short	2/20/23	8/12/24	539		Scatec	100	3,815,181	NOK	72.940	84.600	61.280	-11.660	-16	234m	-11
accum	11/13/06	8/12/24	7079	days out of 7394 invested (96%)								2,337,843		234m	68

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	0.58	7.76		7.18	1,237.93
	short	7/27/15	7/03/17	707	2.65	0.44	15.96	13.31	502.27	7,957.98
Enphase Energy	long	4/29/19	9/20/21	875	10.21	152.44		142.23	1,393.05	1,393.05
REC Silicon	short	7/18/11	1/14/13	546	72.60	11.90	442.92	370.32	510.08
	short	5/11/15	6/29/15	49	17.77	17.28	18.27	0.50	2.84	527.38
JA Solar Energy	short	6/23/08	7/06/09	378	87.60	18.90	406.02	318.42	363.49	363.49
SunPower	long	2/05/07	6/23/08	504	45.79	82.65		36.86	80.50	80.50
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
GCL Poly Energy	long	7/06/09	7/18/11	742	2.63	4.05		1.42	53.99
	long	11/22/21	12/20/21	28	3.45	2.33		-1.12	-32.46	4.00
Beijing Energy	short	11/13/06	2/05/07	84	0.15	0.13	0.18	0.03	18.44
	long	7/03/17	7/16/18	378	1.03	0.54		-0.49	-47.57
	short	7/16/18	4/29/19	287	0.54	0.34	0.87	0.33	61.19	0.09
Array Tech	long	8/22/22	12/19/22	119	20.50	20.45		-0.05	-0.24	-0.24
First Solar	long	1/16/23	2/20/23	35	180.19	164.28		-15.91	-8.83	-8.83
Scatec	short	9/20/21	11/22/21	63	165.70	162.25	169.22	3.52	2.13
	short	2/20/23	8/12/24	539	72.94	84.60	61.28	-11.66	-15.99	-14.20
Flat Glass	short	12/19/22	1/16/23	28	18.36	22.75	13.97	-4.39	-23.91	-23.91
Daqo New Energy	short	12/20/21	8/22/22	245	38.05	62.29	13.81	-24.24	-63.71	-63.71

Annotations

4/22/24	PPVX	Voltalia replaces Meyer Burger
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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