Using the Markowitz Model in the Analysis of Optimal PortfolioForming on Idx30 Index Stock on the Indonesia Stock Exchange

Authors : A Batari Jumrahma; M. Ikhwan Maulana Haeruddin; Anwar

Volume/Issue : Volume 7 - 2022, Issue 8 - August

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This study aims to determine the optimal portfolio formation by using the Markowitz model on the IDX30 index stock, in order to obtain stocks that are used as investment choices or form a portfolio. The population in this study is all shares of issuers or companies that have been included in the IDX30 Index on the Indonesia Stock Exchange for the period February 2017-January 2022, as many as 53 companies while the sample in this study was 50 company shares selected based on nonprobability sampling technique with purposive sampling method. Data collection is done by using documentation techniques. Data analysis was performed using the Markowitz model. The results of this study indicate that of the 50 IDX30 Index stocks that were used as research samples, 14 stocks were included in the optimal portfolio, namely ICBP, MIKA, TLKM, ACES, UNTR, CPIN, MDKA, BBCA, TOWR, ADRO, KLBF, PTBA, TBIG, ANTM stocks. The optimal portfolio that is formed produces an expected return portfolio value of 0.0075 or 0.75% per month with a portfolio risk level of 0.0313 or 3.13% per month. The formation of an optimal portfolio is more recommended for investors who want to invest in IDX30 Index shares on the Indonesia Stock Exchange. This is because the portfolio formed as a form of investment diversification is provento be able to reduce investment risk compared to investing in only one stock.

Keywords : Using the Markowitz Model in the Analysis of Optimal Portfolio Forming on Idx30 Index Stock on the Indonesia Stock Exchange.


Paper Submission Last Date
29 - February - 2024

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