Keterangan : Tahun

Rp (Y) : return saham dalam bentuk desimal 2018

Y-Yi : Return saham - rata-rata saham
(Y-Yi)² : hasil kuadrat dari return saham - rata-rata saham
Rm (X) : return pasar (IHSG) dalam bentuk desimal
X-Xi : return pasar - rata-rata pasar
(X-Xi)² : hasil kuadrat dari return pasar - return rata-rata pasar
(Y-Yi) (X-Xi)² : hasil perkalian antara (Y-Yi)² dan (X-Xi)²
Varian : jumlah (Y-Yi)² dibagi jumlah banyaknya data (12)
Rata-rata varian: varian saham ditambah varian Pasar dibagi 2
Standar deviasi : akar dari Varian
Beta : jumlah varian dibagi rata-rata varian

Tahun
2019
Tahun
2020
 LAMPIRAN 1
PT Indofarma, Tbk. (INAF)
periode 1 Januari 2018 s/d 31 Desember 2020

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

5900.00 6355.65
Jan 5500.00 -6.78 6605.63 3.93 0.35 0.0035
Feb 4410.00 -19.82 6597.22 -0.13 0.35 0.0035
Mar 5700.00 29.25 6188.99 -6.19 0.35 0.0035
Apr 5700.00 0.00 5994.60 -3.14 0.35 0.0035
Mei 3810.00 -33.16 5983.59 -0.18 0.40 0.0040
Jun 3900.00 2.36 5799.24 -3.08 0.44 0.0044
Jul 3100.00 -20.51 5936.44 2.37 0.44 0.0044
Ags 3000.00 -3.23 6018.46 1.38 0.46 0.0046
Sept 5900.00 96.67 5976.55 -0.70 0.48 0.0048
Okt 3900.00 -33.90 5831.65 -2.42 0.48 0.0048
Nov 4400.00 12.82 6056.12 3.85 0.50 0.0050
Des 6500.00 47.73 6194.50 2.28 0.50 0.0050
Total 55820.0000 71.4357 73182.9900 -2.0268 5.1042 0.0510
Average 4651.6667 6098.5825 0.4253 0.0043

2018
Sharpe 4.0966
Treynor -2.2070
Jensen 1.5343
CAPM -0.0002

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

Jan 4990.00 -23.23 6532.97 5.46 0.50 0.0050
Feb 4750.00 -4.81 6443.35 -1.37 0.50 0.0050
Mar 5475.00 15.26 6468.75 0.39 0.50 0.0050
Apr 3900.00 -28.77 6455.35 -0.21 0.50 0.0050
Mei 3500.00 -10.26 6209.12 -3.81 0.50 0.0050
Jun 2280.00 -34.86 6358.63 2.41 0.50 0.0050
Jul 2200.00 -3.51 6390.50 0.50 0.48 0.0048
Ags 2000.00 -9.09 6328.47 -0.97 0.46 0.0046
Sept 1505.00 -24.75 6169.10 -2.52 0.44 0.0044
Okt 1115.00 -25.91 6228.32 0.96 0.42 0.0042
Nov 680.00 -39.01 6011.83 -3.48 0.42 0.0042
Des 870.00 27.94 6299.54 4.79 0.42 0.0042
Total 33265.0000 -160.9935 75895.9300 2.1549 5.6250 0.0563
Average 2772.0833 6324.6608 0.4688 0.0047

2019
Sharpe 2.1930
Treynor 0.2222
Jensen 0.4322
CAPM 0.0143

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

Jan 840.00 -3.45 5940.05 -5.71 0.42 0.0042
Feb 448.00 -46.67 5452.70 -8.20 0.40 0.0040
Mar 1080.00 141.07 4538.93 -16.76 0.38 0.0038
Apr 1110.00 2.78 4716.40 3.91 0.38 0.0038
Mei 1010.00 -9.01 4753.61 0.79 0.38 0.0038
Jun 985.00 -2.48 4905.39 3.19 0.35 0.0035
Jul 2280.00 131.47 5149.63 4.98 0.33 0.0033
Ags 3060.00 34.21 5238.49 1.73 0.33 0.0033
Sept 2860.00 -6.54 4870.04 -7.03 0.33 0.0033
Okt 3140.00 9.79 5128.23 5.30 0.33 0.0033
Nov 3160.00 0.64 5612.42 9.44 0.31 0.0031
Des 4030.00 27.53 5979.07 6.53 0.31 0.0031
Total 24003.0000 279.3555 62284.9600 -1.8302 4.2500 0.0425
Average 2000.2500 5190.4133 0.3542 0.0035

2020
Sharpe 6.2016
Treynor -2.4338
Jensen 3.5874
CAPM -0.0839

Kinerja Saham PT Indofarma, Tbk.

Tahun 2018 2019 2020 Rata-Rata
Sharpe 4.0966 2.1930 6.2016 4.1637
Treynor -2.2070 0.2222 -2.4338 -1.4729
Jensen 1.5343 0.4322 3.5874 1.8513
CAPM -0.0002 0.0143 -0.0839 -0.0233
IHSG -0.0203 0.0215 -0.0183 -0.0057

Expected Return (%) Rata-Rata

INAF 0.0595 -0.1342 0.2328 0.0527
Pasar -0.0017 0.0018 -0.0015 -0.0005
Standar Deviasi (%) Rata-Rata
INAF 0.3734 0.2015 0.5644 0.3798
Pasar 0.0311 0.0294 0.0765 0.0457
Beta Rata-Rata
-0.69 1.99 -1.44 -0.0476
 Rata-Rata Aset Bebas Risiko (%) Rata-Rata
BI Rate 0.4 0.5 0.4 0.4161
Tahun Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

2018 Jan -0.0678 -0.1273 0.0162120 0.0393

Feb -0.1982 -0.2577 0.0664152 -0.0013
Mar 0.2925 0.2330 0.0542831 -0.0619
Apr 0.0000 -0.0595 0.0035438 -0.0314
Mei -0.3316 -0.3911 0.1529660 -0.0018
Jun 0.0236 -0.0359 0.0012894 -0.0308
Jul -0.2051 -0.2647 0.0700438 0.0237
Ags -0.0323 -0.0918 0.0084250 0.0138
Sept 0.9667 0.9071 0.8228974 -0.0070
Okt -0.3390 -0.3985 0.1588124 -0.0242
Nov 0.1282 0.0687 0.0047163 0.0385
Des 0.4773 0.4177 0.1745092 0.0228
Total Return 0.7143569 1.53411366 -0.0202676
Expected return 0.0595297 -0.0016890
Varian 0.1394649 0.0009703
Standart Dev. 0.3734500 0.0311494
Beta -0.6931823

Tahun Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

2019 Jan -0.2323 -0.0981 0.0096327 0.0546
Feb -0.0481 0.0861 0.0074072 -0.0137
Mar 0.1526 0.2868 0.0822501 0.0039
Apr -0.2877 -0.1535 0.0235653 -0.0021
Mei -0.1026 0.0316 0.0009984 -0.0381
Jun -0.3486 -0.2144 0.0459717 0.0241
Jul -0.0351 0.0991 0.0098156 0.0050
Ags -0.0909 0.0433 0.0018707 -0.0097
Sept -0.2475 -0.1133 0.0128457 -0.0252
Okt -0.2591 -0.1250 0.0156187 0.0096
Nov -0.3901 -0.2560 0.0655223 -0.0348
Des 0.2794 0.4136 0.1710426 0.0479
Total -1.6099349 0.44654115 0.0215486
expected return -0.1341612 0.0017957
Varian 0.0405946 0.0008667
Standart Dev. 0.2014811 0.0294399
 Beta 1.9885246

Tahun Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

2020 Jan -0.0345 -0.2673 0.0714381 -0.0571
Feb -0.4667 -0.6995 0.4892483 -0.0820
Mar 1.4107 1.1779 1.3874910 -0.1676
Apr 0.0278 -0.2050 0.0420326 0.0391
Mei -0.0901 -0.3229 0.1042556 0.0079
Jun -0.0248 -0.2575 0.0663313 0.0319
Jul 1.3147 1.0819 1.1705608 0.0498
Ags 0.3421 0.1093 0.0119485 0.0173
Sept -0.0654 -0.2982 0.0888968 -0.0703
Okt 0.0979 -0.1349 0.0181964 0.0530
Nov 0.0064 -0.2264 0.0512691 0.0944
Des 0.2753 0.0425 0.0018080 0.0653
Total 2.7935547 3.50347641 -0.0183021
expected return 0.2327962 -0.0015252
Varian 0.3184979 0.0058519
Standart Dev. 0.5643561 0.0764976
Beta -1.4380760
 X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0410 0.0016827 0.00002728

0.0004 0.0000002 0.00000001
-0.0602 0.0036229 0.00019666
-0.0297 0.0008833 0.00000313
-0.0001 0.0000000 0.00000000
-0.0291 0.0008480 0.00000109
0.0253 0.0006425 0.00004500
0.0155 0.0002404 0.00000203
-0.0053 0.0000278 0.00002289
-0.0226 0.0005088 0.00008080
0.0402 0.0016145 0.00000761
0.0245 0.0006021 0.00010508
0.01067314 0.00049159

Covarian -0.0006726

6931823

X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0528 0.0027926 0.00002690
-0.0155 0.0002407 0.00000178
0.0021 0.0000046 0.00000038
-0.0039 0.0000150 0.00000035
-0.0399 0.0015951 0.00000159
0.0223 0.0004965 0.00002283
0.0032 0.0000103 0.00000010
-0.0115 0.0001323 0.00000025
-0.0270 0.0007279 0.00000935
0.0078 0.0000609 0.00000095
-0.0366 0.0013362 0.00008755
0.0461 0.0021217 0.00036290
0.00953381 0.00051493

Covarian 0.0017235
885246

X-Xi (X-Xi)² (Y-Yi) (X-Xi)

-0.0555 0.0030848 0.00022037
-0.0805 0.0064834 0.00317199
-0.1661 0.0275746 0.03825951
0.0406 0.0016504 0.00006937
0.0094 0.0000886 0.00000924
0.0335 0.0011192 0.00007424
0.0513 0.0026333 0.00308239
0.0188 0.0003527 0.00000421
-0.0688 0.0047348 0.00042091
0.0545 0.0029747 0.00005413
0.0959 0.0092048 0.00047192
0.0669 0.0044694 0.00000808
0.06437075 0.04584638

Covarian -0.0084155

4380760
 Keterangan : Tahun

Rp (Y) : return saham dalam bentuk desimal 2018

Y-Yi : Return saham - rata-rata saham
(Y-Yi)² : hasil kuadrat dari return saham - rata-rata saham
Rm (X) : return pasar (IHSG) dalam bentuk desimal
X-Xi : return pasar - rata-rata pasar
(X-Xi)² : hasil kuadrat dari return pasar - return rata-rata pasar
(Y-Yi) (X-Xi)² : hasil perkalian antara (Y-Yi)² dan (X-Xi)²
Varian : jumlah (Y-Yi)² dibagi jumlah banyaknya data (12)
Rata-rata varian: varian saham ditambah varian Pasar dibagi 2
Standar deviasi : akar dari Varian
Beta : jumlah varian dibagi rata-rata varian

Tahun
2019
Tahun
2020
 LAMPIRAN 1
PT Kimia farma (Persero), Tbk. (KAEF)
periode 1 Januari 2018 s/d 31 Desember 2018

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

2700.00 6355.65
Jan 2440.00 -9.63 6605.63 3.93 0.35 0.0035
Feb 2400.00 -1.64 6597.22 -0.13 0.35 0.0035
Mar 2190.00 -8.75 6188.99 -6.19 0.35 0.0035
Apr 2150.00 -1.83 5994.6 -3.14 0.35 0.0035
Mei 2540.00 18.14 5983.59 -0.18 0.40 0.0040
Jun 2360.00 -7.09 5799.24 -3.08 0.44 0.0044
Jul 2330.00 -1.27 5936.44 2.37 0.44 0.0044
Ags 2360.00 1.29 6018.46 1.38 0.46 0.0046
Sept 2550.00 8.05 5976.55 -0.70 0.48 0.0048
Okt 2450.00 -3.92 5831.65 -2.42 0.48 0.0048
Nov 2500.00 2.04 6056.12 3.85 0.50 0.0050
Des 2600.00 4.00 6194.5 2.28 0.50 0.0050
Total 28870.0000 -0.6061 73182.9900 -2.0268 5.1042 0.0510
Average 2405.8333 6098.5825 0.4253 0.0043

2010
Sharpe 0.7959
Treynor 0.1090
Jensen 0.0579
CAPM 0.0079

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

Jan 2950.00 13.46 6532.97 5.46 0.50 0.0050
Feb 3190.00 8.14 6443.35 -1.37 0.50 0.0050
Mar 3570.00 11.91 6468.75 0.39 0.50 0.0050
Apr 3000.00 -15.97 6455.35 -0.21 0.50 0.0050
Mei 3390.00 13.00 6209.12 -3.81 0.50 0.0050
Jun 3360.00 -0.88 6358.63 2.41 0.50 0.0050
Jul 3200.00 -4.76 6390.5 0.50 0.48 0.0048
Ags 3060.00 -4.38 6328.47 -0.97 0.46 0.0046
Sept 2900.00 -5.23 6169.1 -2.52 0.44 0.0044
Okt 2770.00 -4.48 6228.32 0.96 0.42 0.0042
Nov 1735.00 -37.36 6011.83 -3.48 0.42 0.0042
Des 1250.00 -27.95 6299.54 4.79 0.42 0.0042
Total 34375.0000 -54.5089 75895.9300 2.1549 5.6250 0.0563
Average 2864.5833 6324.6608 0.4688 0.0047

2011
Sharpe 1.7362
Treynor 0.7528
Jensen 0.2768
CAPM 0.0065

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

Jan 1000.00 -20.00 5940.05 -5.71 0.42 0.0042
Feb 580.00 -42.00 5452.7 -8.20 0.40 0.0040
Mar 1310.00 125.86 4538.93 -16.76 0.38 0.0038
Apr 1330.00 1.53 4716.4 3.91 0.38 0.0038
Mei 1160.00 -12.78 4753.61 0.79 0.38 0.0038
Jun 1120.00 -3.45 4905.39 3.19 0.35 0.0035
Jul 2250.00 100.89 5149.63 4.98 0.33 0.0033
Ags 3040.00 35.11 5238.49 1.73 0.33 0.0033
Sept 2890.00 -4.93 4870.04 -7.03 0.33 0.0033
Okt 3110.00 7.61 5128.23 5.30 0.33 0.0033
Nov 3150.00 1.29 5612.42 9.44 0.31 0.0031
Des 4250.00 34.92 5979.07 6.53 0.31 0.0031
Total 25190.0000 224.0476 62284.9600 -1.8302 4.2500 0.0425
Average 2099.1667 5190.4133 0.3542 0.0035

2012
Sharpe 5.4138
Treynor -2.2802
Jensen 2.7392
CAPM -0.0676

Kinerja Saham Bank BRI (Persero), Tbk

Tahun 2010 2011 2012 Rata-Rata
Sharpe 0.7959 1.7362 5.4138 2.6486
Treynor 0.1090 0.7528 -2.2802 -0.4728
Jensen 0.0579 0.2768 2.7392 1.0246
CAPM 0.0079 0.0065 -0.0676 -0.0178
Pasar -0.0203 0.0215 -0.0183 -0.0057

Expected Return (%) Rata-Rata

Bank BRI -0.0005 -0.0454 0.1867 0.0469
Pasar -0.0017 0.0018 -0.0015 -0.0005
Standar Deviasi (%) Rata-Rata
Bank BRI 0.0774 0.1605 0.4928 0.2436
Pasar 0.0311 0.0294 0.0765 0.0457
Beta Rata-Rata
0.56 0.37 -1.17 -0.0784
 Rata-Rata Aset Bebas Risiko (%) Rata-Rata
BI Rate 0.4 0.5 0.4 0.4161
Tahun Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

2010 Jan -0.0963 -0.0958 0.0091760 0.0393

Feb -0.0164 -0.0159 0.0002524 -0.0013
Mar -0.0875 -0.0870 0.0075681 -0.0619
Apr -0.0183 -0.0178 0.0003154 -0.0314
Mei 0.1814 0.1819 0.0330878 -0.0018
Jun -0.0709 -0.0704 0.0049507 -0.0308
Jul -0.0127 -0.0122 0.0001490 0.0237
Ags 0.0129 0.0134 0.0001790 0.0138
Sept 0.0805 0.0810 0.0065632 -0.0070
Okt -0.0392 -0.0387 0.0014985 -0.0242
Nov 0.0204 0.0209 0.0004374 0.0385
Des 0.0400 0.0405 0.0016407 0.0228
Total Return -0.0060607 0.06581815 -0.0202676
Expected return -0.0005051 -0.0016890
Varian 0.0059835 0.0009703
Standart Dev. 0.0773529 0.0311494
Beta 0.5648027

Tahun Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

2011 Jan 0.1346 0.1800 0.0324142 0.0546
Feb 0.0814 0.1268 0.0160732 -0.0137
Mar 0.1191 0.1645 0.0270755 0.0039
Apr -0.1597 -0.1142 0.0130507 -0.0021
Mei 0.1300 0.1754 0.0307736 -0.0381
Jun -0.0088 0.0366 0.0013377 0.0241
Jul -0.0476 -0.0022 0.0000048 0.0050
Ags -0.0438 0.0017 0.0000028 -0.0097
Sept -0.0523 -0.0069 0.0000471 -0.0252
Okt -0.0448 0.0006 0.0000004 0.0096
Nov -0.3736 -0.3282 0.1077298 -0.0348
Des -0.2795 -0.2341 0.0548097 0.0479
Total -0.5450892 0.28331951 0.0215486
expected return -0.0454241 0.0017957
Varian 0.0257563 0.0008667
Standart Dev. 0.1604878 0.0294399
 Beta 0.3701359

Tahun Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

2012 Jan -0.2000 -0.3867 0.1495418 -0.0571
Feb -0.4200 -0.6067 0.3680926 -0.0820
Mar 1.2586 1.0719 1.1490004 -0.1676
Apr 0.0153 -0.1714 0.0293914 0.0391
Mei -0.1278 -0.3145 0.0989265 0.0079
Jun -0.0345 -0.2212 0.0489246 0.0319
Jul 1.0089 0.8222 0.6760494 0.0498
Ags 0.3511 0.1644 0.0270289 0.0173
Sept -0.0493 -0.2360 0.0557189 -0.0703
Okt 0.0761 -0.1106 0.0122283 0.0530
Nov 0.0129 -0.1738 0.0302219 0.0944
Des 0.3492 0.1625 0.0264063 0.0653
Total 2.2404758 2.67153101 -0.0183021
expected return 0.1867063 -0.0015252
Varian 0.2428665 0.0058519
Standart Dev. 0.4928148 0.0764976
Beta -1.1700575
 X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0410 0.0016827 0.00001544

0.0004 0.0000002 0.00000000
-0.0602 0.0036229 0.00002742
-0.0297 0.0008833 0.00000028
-0.0001 0.0000000 0.00000000
-0.0291 0.0008480 0.00000420
0.0253 0.0006425 0.00000010
0.0155 0.0002404 0.00000004
-0.0053 0.0000278 0.00000018
-0.0226 0.0005088 0.00000076
0.0402 0.0016145 0.00000071
0.0245 0.0006021 0.00000099
0.01067314 0.00005011

Covarian 0.0005480

.5648027

X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0528 0.0027926 0.00009052
-0.0155 0.0002407 0.00000387
0.0021 0.0000046 0.00000012
-0.0039 0.0000150 0.00000020
-0.0399 0.0015951 0.00004909
0.0223 0.0004965 0.00000066
0.0032 0.0000103 0.00000000
-0.0115 0.0001323 0.00000000
-0.0270 0.0007279 0.00000003
0.0078 0.0000609 0.00000000
-0.0366 0.0013362 0.00014395
0.0461 0.0021217 0.00011629
0.00953381 0.00040474

Covarian 0.0003208
.3701359

X-Xi (X-Xi)² (Y-Yi) (X-Xi)

-0.0555 0.0030848 0.00046131
-0.0805 0.0064834 0.00238649
-0.1661 0.0275746 0.03168323
0.0406 0.0016504 0.00004851
0.0094 0.0000886 0.00000877
0.0335 0.0011192 0.00005476
0.0513 0.0026333 0.00178021
0.0188 0.0003527 0.00000953
-0.0688 0.0047348 0.00026382
0.0545 0.0029747 0.00003638
0.0959 0.0092048 0.00027819
0.0669 0.0044694 0.00011802
0.06437075 0.03712921

Covarian -0.0068470

1.1700575
 Keterangan : Tahun

Rp (Y) : return saham dalam bentuk desimal 2018

Y-Yi : Return saham - rata-rata saham
(Y-Yi)² : hasil kuadrat dari return saham - rata-rata saham
Rm (X) : return pasar (IHSG) dalam bentuk desimal
X-Xi : return pasar - rata-rata pasar
(X-Xi)² : hasil kuadrat dari return pasar - return rata-rata pasar
(Y-Yi) (X-Xi)² : hasil perkalian antara (Y-Yi)² dan (X-Xi)²
Varian : jumlah (Y-Yi)² dibagi jumlah banyaknya data (12)
Rata-rata varian: varian saham ditambah varian Pasar dibagi 2
Standar deviasi : akar dari Varian
Beta : jumlah varian dibagi rata-rata varian

Tahun
2019
Tahun
2020
 LAMPIRAN 1
Indofood Sukses Makmur Tbk. (INDF)
periode 1 Januari 2018 s/d 31 Desember 2020

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

7625.00 6,355.65
Jan 7750.00 1.64 6605.63 3.93 0.35 0.0035
Feb 7575.00 -2.26 6597.22 -0.13 0.35 0.0035
Mar 7200.00 -4.95 6188.99 -6.19 0.35 0.0035
Apr 6975.00 -3.13 5994.60 -3.14 0.35 0.0035
Mei 7075.00 1.43 5983.59 -0.18 0.40 0.0040
Jun 6650.00 -6.01 5799.24 -3.08 0.44 0.0044
Jul 6350.00 -4.51 5936.44 2.37 0.44 0.0044
Ags 6375.00 0.39 6018.46 1.38 0.46 0.0046
Sept 5900.00 -7.45 5976.55 -0.70 0.48 0.0048
Okt 5975.00 1.27 5831.65 -2.42 0.48 0.0048
Nov 6600.00 10.46 6056.12 3.85 0.50 0.0050
Des 7450.00 12.88 6194.50 2.28 0.50 0.0050
Total 81875.0000 -0.2259 73182.9900 -2.0268 5.1042 0.0510
Average 6822.9167 6098.5825 0.4253 0.0043

2018
Sharpe 0.6225
Treynor 0.0328
Jensen 0.0314
CAPM 0.0119

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

Jan 7750.00 4.03 6532.97 5.46 0.50 0.0050
Feb 7075.00 -8.71 6443.35 -1.37 0.50 0.0050
Mar 6425.00 -9.19 6468.75 0.39 0.50 0.0050
Apr 6950.00 8.17 6455.35 -0.21 0.50 0.0050
Mei 6600.00 -5.04 6209.12 -3.81 0.50 0.0050
Jun 7025.00 6.44 6358.63 2.41 0.50 0.0050
Jul 7075.00 0.71 6390.50 0.50 0.48 0.0048
Ags 7925.00 12.01 6328.47 -0.97 0.46 0.0046
Sept 7700.00 -2.84 6169.10 -2.52 0.44 0.0044
Okt 7700.00 0.00 6228.32 0.96 0.42 0.0042
Nov 7950.00 3.25 6011.83 -3.48 0.42 0.0042
Des 7925.00 -0.31 6299.54 4.79 0.42 0.0042
Total 88100.0000 8.5236 75895.9300 2.1549 5.6250 0.0563
Average 7341.6667 6324.6608 0.4688 0.0047

2019
Sharpe 0.6453
Treynor 0.0894
Jensen 0.0398
CAPM 0.0070

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

Jan 7825.00 -1.26 5940.05 -5.71 0.42 0.0042
Feb 6500.00 -16.93 5452.70 -8.20 0.40 0.0040
Mar 6350.00 -2.31 4538.93 -16.76 0.38 0.0038
Apr 6525.00 2.76 4716.40 3.91 0.38 0.0038
Mei 5750.00 -11.88 4753.61 0.79 0.46 0.0046
Jun 6525.00 13.48 4905.39 3.19 0.35 0.0035
Jul 6450.00 -1.15 5149.63 4.98 0.33 0.0033
Ags 7625.00 18.22 5238.49 1.73 0.33 0.0033
Sept 7150.00 -6.23 4870.04 -7.03 0.33 0.0033
Okt 7000.00 -2.10 5128.23 5.30 0.33 0.0033
Nov 7100.00 1.43 5612.42 9.44 0.31 0.0031
Des 6850.00 -3.52 5979.07 6.53 0.31 0.0031
Total 81650.0000 -9.4980 62284.9600 -1.8302 4.3333 0.0433
Average 6804.1667 5190.4133 0.3611 0.0036

2020
Sharpe 1.0149
Treynor 0.2259
Jensen 0.0710
CAPM 0.0297

Kinerja Saham Bank BRI (Persero), Tbk

Tahun 2010 2011 2012 Rata-Rata
Sharpe 0.6225 0.6453 1.0149 0.7609
Treynor 0.0328 0.0894 0.2259 0.1160
Jensen 0.0314 0.0398 0.0710 0.0474
CAPM 0.0119 0.0070 0.0297 0.0162
Pasar -0.0203 0.0215 -0.0183 -0.0057

Expected Return (%) Rata-Rata

Bank BRI -0.0002 0.0071 -0.0079 -0.0003
Pasar -0.0017 0.0018 -0.0015 -0.0005
Standar Deviasi (%) Rata-Rata
Bank BRI 0.0627 0.0652 0.0957 0.0745
Pasar 0.0311 0.0294 0.0765 0.0457
Beta Rata-Rata
1.19 0.47 0.43 0.6970
 Rata-Rata Aset Bebas Risiko (%) Rata-Rata
BI Rate 0.4 0.5 0.4 0.4184
Tahun Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

2018 Jan 0.0164 0.0166 0.0002750 0.0393

Feb -0.0226 -0.0224 0.0005014 -0.0013
Mar -0.0495 -0.0493 0.0024321 -0.0619
Apr -0.0313 -0.0311 0.0009648 -0.0314
Mei 0.0143 0.0145 0.0002110 -0.0018
Jun -0.0601 -0.0599 0.0035859 -0.0308
Jul -0.0451 -0.0449 0.0020182 0.0237
Ags 0.0039 0.0041 0.0000170 0.0138
Sept -0.0745 -0.0743 0.0055237 -0.0070
Okt 0.0127 0.0129 0.0001664 -0.0242
Nov 0.1046 0.1048 0.0109811 0.0385
Des 0.1288 0.1290 0.0166348 0.0228
Total Return -0.0022592 0.04331151 -0.0202676
Expected return -0.0001883 -0.0016890
Varian 0.0039374 0.0009703
Standart Dev. 0.0627488 0.0311494
Beta 1.1904476

Tahun Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

2019 Jan 0.0403 0.0332 0.0010999 0.0546
Feb -0.0871 -0.0942 0.0088736 -0.0137
Mar -0.0919 -0.0990 0.0097962 0.0039
Apr 0.0817 0.0746 0.0055665 -0.0021
Mei -0.0504 -0.0575 0.0033020 -0.0381
Jun 0.0644 0.0573 0.0032823 0.0241
Jul 0.0071 0.0000 0.0000000 0.0050
Ags 0.1201 0.1130 0.0127777 -0.0097
Sept -0.0284 -0.0355 0.0012598 -0.0252
Okt 0.0000 -0.0071 0.0000505 0.0096
Nov 0.0325 0.0254 0.0006434 -0.0348
Des -0.0031 -0.0102 0.0001050 0.0479
Total 0.0852357 0.04675681 0.0215486
expected return 0.0071030 0.0017957
Varian 0.0042506 0.0008667
Standart Dev. 0.0651968 0.0294399
 Beta 0.4706926

Tahun Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

2020 Jan -0.0126 -0.0047 0.0000221 -0.0571
Feb -0.1693 -0.1614 0.0260545 -0.0820
Mar -0.0231 -0.0152 0.0002299 -0.1676
Apr 0.0276 0.0355 0.0012584 0.0391
Mei -0.1188 -0.1109 0.0122897 0.0079
Jun 0.1348 0.1427 0.0203626 0.0319
Jul -0.0115 -0.0036 0.0000128 0.0498
Ags 0.1822 0.1901 0.0361325 0.0173
Sept -0.0623 -0.0544 0.0029572 -0.0703
Okt -0.0210 -0.0131 0.0001707 0.0530
Nov 0.0143 0.0222 0.0004929 0.0944
Des -0.0352 -0.0273 0.0007451 0.0653
Total -0.0949799 0.10072837 -0.0183021
expected return -0.0079150 -0.0015252
Varian 0.0091571 0.0058519
Standart Dev. 0.0956929 0.0764976
Beta 0.4298231
 X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0410 0.0016827 0.00000046

0.0004 0.0000002 0.00000000
-0.0602 0.0036229 0.00000881
-0.0297 0.0008833 0.00000085
-0.0001 0.0000000 0.00000000
-0.0291 0.0008480 0.00000304
0.0253 0.0006425 0.00000130
0.0155 0.0002404 0.00000000
-0.0053 0.0000278 0.00000015
-0.0226 0.0005088 0.00000008
0.0402 0.0016145 0.00001773
0.0245 0.0006021 0.00001002
0.01067314 0.00004245

Covarian 0.0011551

904476

X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0528 0.0027926 0.00000307
-0.0155 0.0002407 0.00000214
0.0021 0.0000046 0.00000005
-0.0039 0.0000150 0.00000008
-0.0399 0.0015951 0.00000527
0.0223 0.0004965 0.00000163
0.0032 0.0000103 0.00000000
-0.0115 0.0001323 0.00000169
-0.0270 0.0007279 0.00000092
0.0078 0.0000609 0.00000000
-0.0366 0.0013362 0.00000086
0.0461 0.0021217 0.00000022
0.00953381 0.00001593

Covarian 0.0004080
706926

X-Xi (X-Xi)² (Y-Yi) (X-Xi)

-0.0555 0.0030848 0.00000007
-0.0805 0.0064834 0.00016892
-0.1661 0.0275746 0.00000634
0.0406 0.0016504 0.00000208
0.0094 0.0000886 0.00000109
0.0335 0.0011192 0.00002279
0.0513 0.0026333 0.00000003
0.0188 0.0003527 0.00001274
-0.0688 0.0047348 0.00001400
0.0545 0.0029747 0.00000051
0.0959 0.0092048 0.00000454
0.0669 0.0044694 0.00000333
0.06437075 0.00023644

Covarian 0.0025153

298231
 Keterangan : Tahun

Rp (Y) : return saham dalam bentuk desimal 2018

Y-Yi : Return saham - rata-rata saham
(Y-Yi)² : hasil kuadrat dari return saham - rata-rata saham
Rm (X) : return pasar (IHSG) dalam bentuk desimal
X-Xi : return pasar - rata-rata pasar
(X-Xi)² : hasil kuadrat dari return pasar - return rata-rata pasar
(Y-Yi) (X-Xi)² : hasil perkalian antara (Y-Yi)² dan (X-Xi)²
Varian : jumlah (Y-Yi)² dibagi jumlah banyaknya data (12)
Rata-rata varian: varian saham ditambah varian Pasar dibagi 2
Standar deviasi : akar dari Varian
Beta : jumlah varian dibagi rata-rata varian

Tahun
2019
Tahun
2020
 LAMPIRAN 1
PT Kalbe Farma Tbk. (KLBF)
periode 1 Januari 2018 s/d 31 Desember 2020

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%)

1690.00 6,355.65
Jan 1665.00 -1.48 6605.63 3.93 0.35
Feb 1600.00 -3.90 6597.22 -0.13 0.35
Mar 1500.00 -6.25 6188.99 -6.19 0.35
Apr 1505.00 0.33 5994.60 -3.14 0.35
Mei 1370.00 -8.97 5983.59 -0.18 0.40
Jun 1220.00 -10.95 5799.24 -3.08 0.44
Jul 1295.00 6.15 5936.44 2.37 0.44
Ags 1345.00 3.86 6018.46 1.38 0.46
Sept 1380.00 2.60 5976.55 -0.70 0.48
Okt 1370.00 -0.72 5831.65 -2.42 0.48
Nov 1525.00 11.31 6056.12 3.85 0.50
Des 1520.00 -0.33 6194.50 2.28 0.50
Total 17295.0000 -8.3467 73182.9900 -2.0268 5.1042
Average 1441.2500 6098.5825 0.4253

2018
Sharpe 0.6278
Treynor 0.0328
Jensen 0.0319
CAPM 0.0120

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%)

Jan 1600.00 5.26 6532.97 5.46 0.50
Feb 1495.00 -6.56 6443.35 -1.37 0.50
Mar 1520.00 1.67 6468.75 0.39 0.50
Apr 1545.00 1.64 6455.35 -0.21 0.50
Mei 1405.00 -9.06 6209.12 -3.81 0.50
Jun 1460.00 3.91 6358.63 2.41 0.50
Jul 1470.00 0.68 6390.50 0.50 0.48
Ags 1690.00 14.97 6328.47 -0.97 0.46
Sept 1675.00 -0.89 6169.10 -2.52 0.44
Okt 1595.00 -4.78 6228.32 0.96 0.42
Nov 1525.00 -4.39 6011.83 -3.48 0.42
Des 1620.00 6.23 6299.54 4.79 0.42
Total 18600.0000 8.6988 75895.9300 2.1549 5.6250
Average 1550.0000 6324.6608 0.4688

2019
 Sharpe 0.6503
Treynor 0.0373
Jensen 0.0371
CAPM 0.0102

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%)

Jan 1430.00 -11.73 5940.05 -5.71 0.42
Feb 1220.00 -14.69 5452.70 -8.20 0.40
Mar 1200.00 -1.64 4538.93 -16.76 0.38
Apr 1440.00 20.00 4716.40 3.91 0.38
Mei 1415.00 -1.74 4753.61 0.79 0.38
Jun 1460.00 3.18 4905.39 3.19 0.35
Jul 1565.00 7.19 5149.63 4.98 0.33
Ags 1580.00 0.96 5238.49 1.73 0.33
Sept 1550.00 -1.90 4870.04 -7.03 0.33
Okt 1525.00 -1.61 5128.23 5.30 0.33
Nov 1505.00 -1.31 5612.42 9.44 0.31
Des 1480.00 -1.66 5979.07 6.53 0.31
Total 17370.0000 -4.9429 62284.9600 -1.8302 4.2500
Average 1447.5000 5190.4133 0.3542

2020
Sharpe 0.9149
Treynor 0.1598
Jensen 0.0492
CAPM 0.0338

Kinerja Saham PT Kalbe Farma Tbk. (KLBF)

Tahun 2018 2019 2020 Rata-Rata
Sharpe 0.6278 0.6503 0.9149 0.7310
Treynor 0.0328 0.0373 0.1598 0.0767
Jensen 0.0319 0.0371 0.0492 0.0394
CAPM 0.0120 0.0102 0.0338 0.0187
IHSG -0.0203 0.0215 -0.0183 -0.0057

Expected Return (%) Rata-Rata

Kalbe Farma -0.0070 0.0072 -0.0041 -0.0013
Pasar -0.0017 0.0018 -0.0015 -0.0005
Standar Deviasi (%) Rata-Rata
Kalbe Farma 0.0632 0.0656 0.0869 0.0719
Pasar 0.0311 0.0294 0.0765 0.0457
Beta Rata-Rata
1.21 1.14 0.50 0.9496
 Rata-Rata Aset Bebas Risiko (%) Rata-Rata
BI Rate 0.4 0.5 0.4 0.4161
BI Rate Tahun Tanggal R (Y) Y-Yi (Y-Yi)²

0.0035 2018 Jan -0.0148 -0.0078 0.0000614

0.0035 Feb -0.0390 -0.0321 0.0010293
0.0035 Mar -0.0625 -0.0555 0.0030852
0.0035 Apr 0.0033 0.0103 0.0001059
0.0040 Mei -0.0897 -0.0827 0.0068468
0.0044 Jun -0.1095 -0.1025 0.0105131
0.0044 Jul 0.0615 0.0684 0.0046828
0.0046 Ags 0.0386 0.0456 0.0020762
0.0048 Sept 0.0260 0.0330 0.0010875
0.0048 Okt -0.0072 -0.0003 0.0000001
0.0050 Nov 0.1131 0.1201 0.0144226
0.0050 Des -0.0033 0.0037 0.0000135
0.0510 Total Return -0.0834673 0.04392454
0.0043 Expected return -0.0069556
Varian 0.0039931
Standart Dev. 0.0631913
Beta 1.207702

BI Rate Tahun Tanggal R (Y) Y-Yi (Y-Yi)²

0.0050 2019 Jan 0.0526 0.0454 0.0020596
0.0050 Feb -0.0656 -0.0729 0.0053106
0.0050 Mar 0.0167 0.0095 0.0000897
0.0050 Apr 0.0164 0.0092 0.0000846
0.0050 Mei -0.0906 -0.0979 0.0095773
0.0050 Jun 0.0391 0.0319 0.0010174
0.0048 Jul 0.0068 -0.0004 0.0000002
0.0046 Ags 0.1497 0.1424 0.0202809
0.0044 Sept -0.0089 -0.0161 0.0002600
0.0042 Okt -0.0478 -0.0550 0.0030261
0.0042 Nov -0.0439 -0.0511 0.0026149
0.0042 Des 0.0623 0.0550 0.0030301
0.0563 Total 0.0869876 0.04735143
0.0047 expected return 0.0072490
Varian 0.0043047
Standart Dev. 0.0656100
 Beta 1.143729

BI Rate Tahun Tanggal R (Y) Y-Yi (Y-Yi)²

0.0042 2020 Jan -0.1173 -0.1132 0.0128063
0.0040 Feb -0.1469 -0.1427 0.0203730
0.0038 Mar -0.0164 -0.0123 0.0001507
0.0038 Apr 0.2000 0.2041 0.0416646
0.0038 Mei -0.0174 -0.0132 0.0001754
0.0035 Jun 0.0318 0.0359 0.0012903
0.0033 Jul 0.0719 0.0760 0.0057816
0.0033 Ags 0.0096 0.0137 0.0001878
0.0033 Sept -0.0190 -0.0149 0.0002211
0.0033 Okt -0.0161 -0.0120 0.0001442
0.0031 Nov -0.0131 -0.0090 0.0000809
0.0031 Des -0.0166 -0.0125 0.0001561
0.0425 Total -0.0494295 0.08303193
0.0035 expected return -0.0041191
Varian 0.0075484
Standart Dev. 0.0868813
Beta 0.497350
 Rm (X) X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0393 0.0410 0.0016827 0.00000010

-0.0013 0.0004 0.0000002 0.00000000
-0.0619 -0.0602 0.0036229 0.00001118
-0.0314 -0.0297 0.0008833 0.00000009
-0.0018 -0.0001 0.0000000 0.00000000
-0.0308 -0.0291 0.0008480 0.00000892
0.0237 0.0253 0.0006425 0.00000301
0.0138 0.0155 0.0002404 0.00000050
-0.0070 -0.0053 0.0000278 0.00000003
-0.0242 -0.0226 0.0005088 0.00000000
0.0385 0.0402 0.0016145 0.00002329
0.0228 0.0245 0.0006021 0.00000001
-0.0202676 0.01067314 0.00004712
-0.0016890
0.0009703 Covarian 0.0011718
0.0311494
1.2077026

Rm (X) X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0546 0.0528 0.0027926 0.00000575
-0.0137 -0.0155 0.0002407 0.00000128
0.0039 0.0021 0.0000046 0.00000000
-0.0021 -0.0039 0.0000150 0.00000000
-0.0381 -0.0399 0.0015951 0.00001528
0.0241 0.0223 0.0004965 0.00000051
0.0050 0.0032 0.0000103 0.00000000
-0.0097 -0.0115 0.0001323 0.00000268
-0.0252 -0.0270 0.0007279 0.00000019
0.0096 0.0078 0.0000609 0.00000018
-0.0348 -0.0366 0.0013362 0.00000349
0.0479 0.0461 0.0021217 0.00000643
0.0215486 0.00953381 0.00003579
0.0017957
0.0008667 Covarian 0.0009913
0.0294399
 1.1437298

Rm (X) X-Xi (X-Xi)² (Y-Yi) (X-Xi)

-0.0571 -0.0555 0.0030848 0.00003950
-0.0820 -0.0805 0.0064834 0.00013209
-0.1676 -0.1661 0.0275746 0.00000415
0.0391 0.0406 0.0016504 0.00006876
0.0079 0.0094 0.0000886 0.00000002
0.0319 0.0335 0.0011192 0.00000144
0.0498 0.0513 0.0026333 0.00001522
0.0173 0.0188 0.0003527 0.00000007
-0.0703 -0.0688 0.0047348 0.00000105
0.0530 0.0545 0.0029747 0.00000043
0.0944 0.0959 0.0092048 0.00000074
0.0653 0.0669 0.0044694 0.00000070
-0.0183021 0.06437075 0.00026418
-0.0015252
0.0058519 Covarian 0.0029104
0.0764976
0.4973500
 Keterangan : Tahun

Rp (Y) : return saham dalam bentuk desimal 2018

Y-Yi : Return saham - rata-rata saham
(Y-Yi)² : hasil kuadrat dari return saham - rata-rata saham
Rm (X) : return pasar (IHSG) dalam bentuk desimal
X-Xi : return pasar - rata-rata pasar
(X-Xi)² : hasil kuadrat dari return pasar - return rata-rata pasar
(Y-Yi) (X-Xi)² : hasil perkalian antara (Y-Yi)² dan (X-Xi)²
Varian : jumlah (Y-Yi)² dibagi jumlah banyaknya data (12)
Rata-rata varian: varian saham ditambah varian Pasar dibagi 2
Standar deviasi : akar dari Varian
Beta : jumlah varian dibagi rata-rata varian

Tahun
2019
Tahun
2020
 LAMPIRAN 1
PT Unilever Indonesia Tbk. (UNVR)
periode 1 Januari 2018 s/d 31 Desember 2020

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

11180.00 6,355.65
Jan 10880.00 -2.68 6605.63 3.93 0.35 0.0035
Feb 10780.00 -0.92 6597.22 -0.13 0.35 0.0035
Mar 9905.00 -8.12 6188.99 -6.19 0.35 0.0035
Apr 9270.00 -6.41 5994.60 -3.14 0.35 0.0035
Mei 9120.00 -1.62 5983.59 -0.18 0.40 0.0040
Jun 9220.00 1.10 5799.24 -3.08 0.44 0.0044
Jul 8650.00 -6.18 5936.44 2.37 0.44 0.0044
Ags 8770.00 1.39 6018.46 1.38 0.46 0.0046
Sept 9405.00 7.24 5976.55 -0.70 0.48 0.0048
Okt 8645.00 -8.08 5831.65 -2.42 0.48 0.0048
Nov 8450.00 -2.26 6056.12 3.85 0.50 0.0050
Des 9080.00 7.46 6194.50 2.28 0.50 0.0050
Total 112175.0000 -19.0871 73182.9900 -2.0268 5.1042 0.0510
Average 9347.9167 6098.5825 0.4253 0.0043

2018
Sharpe 0.5006
Treynor 0.0442
Jensen 0.0226
CAPM 0.0081

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

Jan 10000.00 10.13 6532.97 5.46 0.50 0.0050
Feb 9735.00 -2.65 6443.35 -1.37 0.50 0.0050
Mar 9840.00 1.08 6468.75 0.39 0.50 0.0050
Apr 9100.00 -7.52 6455.35 -0.21 0.50 0.0050
Mei 8900.00 -2.20 6209.12 -3.81 0.50 0.0050
Jun 9000.00 1.12 6358.63 2.41 0.50 0.0050
Jul 8720.00 -3.11 6390.50 0.50 0.48 0.0048
Ags 9770.00 12.04 6328.47 -0.97 0.46 0.0046
Sept 9300.00 -4.81 6169.10 -2.52 0.44 0.0044
Okt 8745.00 -5.97 6228.32 0.96 0.42 0.0042
Nov 8360.00 -4.40 6011.83 -3.48 0.42 0.0042
Des 8400.00 0.48 6299.54 4.79 0.42 0.0042
Total 109870.0000 -5.8061 75895.9300 2.1549 5.6250 0.0563
Average 9155.8333 6324.6608 0.4688 0.0047

2019
Sharpe 0.5890
Treynor 0.0406
Jensen 0.0314
CAPM 0.0089

Tanggal PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate

Jan 7950.00 -5.36 5940.05 -5.71 0.42 0.0042
Feb 6825.00 -14.15 5452.70 -8.20 0.40 0.0040
Mar 7250.00 6.23 4538.93 -16.76 0.38 0.0038
Apr 8275.00 14.14 4716.40 3.91 0.38 0.0038
Mei 7750.00 -6.34 4753.61 0.79 0.38 0.0038
Jun 7900.00 1.94 4905.39 3.19 0.35 0.0035
Jul 8400.00 6.33 5149.63 4.98 0.33 0.0033
Ags 8225.00 -2.08 5238.49 1.73 0.33 0.0033
Sept 8100.00 -1.52 4870.04 -7.03 0.33 0.0033
Okt 7825.00 -3.40 5128.23 5.30 0.33 0.0033
Nov 7725.00 -1.28 5612.42 9.44 0.31 0.0031
Des 7350.00 -4.85 5979.07 6.53 0.31 0.0031
Total 93575.0000 -10.3533 62284.9600 -1.8302 4.2500 0.0425
Average 7797.9167 5190.4133 0.3542 0.0035

2020
Sharpe 0.7544
Treynor 0.4789
Jensen 0.0481
CAPM 0.0105

Kinerja Saham PT Unilever Indonesia Tbk.

Tahun 2018 2019 2020 Rata-Rata
Sharpe 0.5006 0.5890 0.7544 0.6147
Treynor 0.0442 0.0406 0.4789 0.1879
Jensen 0.0226 0.0314 0.0481 0.0340
CAPM 0.0081 0.0089 0.0105 0.0092
Pasar -0.0203 0.0215 -0.0183 -0.0057

Expected Return (%) Rata-Rata

UNVR -0.0159 -0.0048 -0.0086 -0.0098
Pasar -0.0017 0.0018 -0.0015 -0.0005
Standar Deviasi (%) Rata-Rata
UNVR 0.0528 0.0606 0.0730 0.0621
Pasar 0.0311 0.0294 0.0765 0.0457
Beta Rata-Rata
0.60 0.88 0.11 0.5308
 Rata-Rata Aset Bebas Risiko (%) Rata-Rata
BI Rate 0.4 0.5 0.4 0.4161
Tahun Tanggal R (Y) Y-Yi (Y-Yi)²

2018 Jan -0.0268 -0.0109 0.0001194

Feb -0.0092 0.0067 0.0000451
Mar -0.0812 -0.0653 0.0042593
Apr -0.0641 -0.0482 0.0023235
Mei -0.0162 -0.0003 0.0000001
Jun 0.0110 0.0269 0.0007220
Jul -0.0618 -0.0459 0.0021083
Ags 0.0139 0.0298 0.0008868
Sept 0.0724 0.0883 0.0077990
Okt -0.0808 -0.0649 0.0042123
Nov -0.0226 -0.0067 0.0000442
Des 0.0746 0.0905 0.0081834
Total Return -0.1908706 0.03070338
Expected return -0.0159059
Varian 0.0027912
Standart Dev. 0.0528320
Beta 0.5978975

Tahun Tanggal R (Y) Y-Yi (Y-Yi)²

2019 Jan 0.1013 0.1062 0.0112699
Feb -0.0265 -0.0217 0.0004692
Mar 0.0108 0.0156 0.0002441
Apr -0.0752 -0.0704 0.0049512
Mei -0.0220 -0.0171 0.0002938
Jun 0.0112 0.0161 0.0002584
Jul -0.0311 -0.0263 0.0006903
Ags 0.1204 0.1253 0.0156879
Sept -0.0481 -0.0433 0.0018721
Okt -0.0597 -0.0548 0.0030073
Nov -0.0440 -0.0392 0.0015356
Des 0.0048 0.0096 0.0000926
Total -0.0580605 0.04037243
expected return -0.0048384
Varian 0.0036702
Standart Dev. 0.0605823
 Beta 0.8794314

Tahun Tanggal R (Y) Y-Yi (Y-Yi)²

2020 Jan -0.0536 -0.0449 0.0020199
Feb -0.1415 -0.1329 0.0176575
Mar 0.0623 0.0709 0.0050266
Apr 0.1414 0.1500 0.0225021
Mei -0.0634 -0.0548 0.0030048
Jun 0.0194 0.0280 0.0007830
Jul 0.0633 0.0719 0.0051723
Ags -0.0208 -0.0122 0.0001490
Sept -0.0152 -0.0066 0.0000432
Okt -0.0340 -0.0253 0.0006412
Nov -0.0128 -0.0042 0.0000172
Des -0.0485 -0.0399 0.0015933
Total -0.1035334 0.05861033
expected return -0.0086278
Varian 0.0053282
Standart Dev. 0.0729946
Beta 0.1149911
 Rm (X) X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0393 0.0410 0.0016827 0.00000020

-0.0013 0.0004 0.0000002 0.00000000
-0.0619 -0.0602 0.0036229 0.00001543
-0.0314 -0.0297 0.0008833 0.00000205
-0.0018 -0.0001 0.0000000 0.00000000
-0.0308 -0.0291 0.0008480 0.00000061
0.0237 0.0253 0.0006425 0.00000135
0.0138 0.0155 0.0002404 0.00000021
-0.0070 -0.0053 0.0000278 0.00000022
-0.0242 -0.0226 0.0005088 0.00000214
0.0385 0.0402 0.0016145 0.00000007
0.0228 0.0245 0.0006021 0.00000493
-0.0202676 0.01067314 0.00002722
-0.0016890
0.0009703 Covarian 0.0005801
0.0311494
0.5978975

Rm (X) X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0546 0.0528 0.0027926 0.00003147
-0.0137 -0.0155 0.0002407 0.00000011
0.0039 0.0021 0.0000046 0.00000000
-0.0021 -0.0039 0.0000150 0.00000007
-0.0381 -0.0399 0.0015951 0.00000047
0.0241 0.0223 0.0004965 0.00000013
0.0050 0.0032 0.0000103 0.00000001
-0.0097 -0.0115 0.0001323 0.00000208
-0.0252 -0.0270 0.0007279 0.00000136
0.0096 0.0078 0.0000609 0.00000018
-0.0348 -0.0366 0.0013362 0.00000205
0.0479 0.0461 0.0021217 0.00000020
0.0215486 0.00953381 0.00003813
0.0017957
0.0008667 Covarian 0.0007622
0.0294399
0.8794314

Rm (X) X-Xi (X-Xi)² (Y-Yi) (X-Xi)

-0.0571 -0.0555 0.0030848 0.00000623
-0.0820 -0.0805 0.0064834 0.00011448
-0.1676 -0.1661 0.0275746 0.00013861
0.0391 0.0406 0.0016504 0.00003714
0.0079 0.0094 0.0000886 0.00000027
0.0319 0.0335 0.0011192 0.00000088
0.0498 0.0513 0.0026333 0.00001362
0.0173 0.0188 0.0003527 0.00000005
-0.0703 -0.0688 0.0047348 0.00000020
0.0530 0.0545 0.0029747 0.00000191
0.0944 0.0959 0.0092048 0.00000016
0.0653 0.0669 0.0044694 0.00000712
-0.0183021 0.06437075 0.00032066
-0.0015252
0.0058519 Covarian 0.0006729
0.0764976
0.1149911
 perio

Keterangan : Tahun Tanggal

Rp (Y) : return saham dalam bentuk desimal 2018 Jan

Y-Yi : Return saham - rata-rata saham Feb
(Y-Yi)² : hasil kuadrat dari return saham - rata-rata saham Mar
Rm (X) : return pasar (IHSG) dalam bentuk desimal Apr
X-Xi : return pasar - rata-rata pasar Mei
(X-Xi)² : hasil kuadrat dari return pasar - return rata-rata pasar Jun
(Y-Yi) (X-Xi)² : hasil perkalian antara (Y-Yi)² dan (X-Xi)² Jul
Varian : jumlah (Y-Yi)² dibagi jumlah banyaknya data (12) Ags
Rata-rata varian: varian saham ditambah varian Pasar dibagi 2 Sept
Standar deviasi : akar dari Varian Okt
Beta : jumlah varian dibagi rata-rata varian Nov
Des
Total
Average

2018
Sharpe
Treynor
Jensen
CAPM

Tahun Tanggal
2019 Jan
Feb
Mar
Apr
Mei
Jun
Jul
Ags
Sept
Okt
Nov
Des
Total
Average

2019
 Sharpe
Treynor
Jensen
CAPM

Tahun Tanggal
2020 Jan
Feb
Mar
Apr
Mei
Jun
Jul
Ags
Sept
Okt
Nov
Des
Total
Average

2020
Sharpe
Treynor
Jensen
CAPM

Kinerja Sah
Tahun
Sharpe
Treynor
Jensen
CAPM
Pasar

Expected
Bank BRI
Pasar
Standar
Bank BRI
Pasar
B
 Rata-Rata Aset
BI Rate
 LAMPIRAN 1
PT MAYORA, Tbk. (MYOR)
periode 1 Januari 2010 s/d 31 Desember 2012

PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate Tahun

2020.00 6355.65
2240.00 10.89 6605.63 3.93 0.35 0.0035 2018
2410.00 7.59 6597.22 -0.13 0.35 0.0035
2950.00 22.41 6188.99 -6.19 0.35 0.0035
2950.00 0.00 5994.60 -3.14 0.35 0.0035
2990.00 1.36 5983.59 -0.18 0.40 0.0040
2970.00 -0.67 5799.24 -3.08 0.44 0.0044
3090.00 4.04 5936.44 2.37 0.44 0.0044
2880.00 -6.80 6018.46 1.38 0.46 0.0046
2720.00 -5.56 5976.55 -0.70 0.48 0.0048
2550.00 -6.25 5831.65 -2.42 0.48 0.0048
2550.00 0.00 6056.12 3.85 0.50 0.0050
2620.00 2.75 6194.50 2.28 0.50 0.0050
32920.0000 29.7579 73182.9900 -2.0268 5.1042 0.0510
2743.3333 6098.5825 0.4253 0.0043

2018
0.8547
-0.1166
0.0743
0.0004

PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate Tahun

2580.00 -1.53 6532.97 5.46 0.50 0.0050 2019
2640.00 2.33 6443.35 -1.37 0.50 0.0050
2570.00 -2.65 6468.75 0.39 0.50 0.0050
2600.00 1.17 6455.35 -0.21 0.50 0.0050
2560.00 -1.54 6209.12 -3.81 0.50 0.0050
2480.00 -3.13 6358.63 2.41 0.50 0.0050
2490.00 0.40 6390.50 0.50 0.48 0.0048
2490.00 0.00 6328.47 -0.97 0.46 0.0046
2230.00 -10.44 6169.10 -2.52 0.44 0.0044
2140.00 -4.04 6228.32 0.96 0.42 0.0042
2060.00 -3.74 6011.83 -3.48 0.42 0.0042
2050.00 -0.49 6299.54 4.79 0.42 0.0042
28890.0000 -23.6470 75895.9300 2.1549 5.6250 0.0563
2407.5000 6324.6608 0.4688 0.0047

2019
 0.2242
0.0308
0.0063
0.0059

PRICE R (%) IHSG Rm (%) BI Rate (%) BI Rate Tahun

1920.00 -6.34 5940.05 -5.71 0.42 0.0042 2020
1800.00 -6.25 5452.70 -8.20 0.40 0.0040
1855.00 3.06 4538.93 -16.76 0.38 0.0038
2150.00 15.90 4716.40 3.91 0.38 0.0038
2200.00 2.33 4753.61 0.79 0.38 0.0038
2260.00 2.73 4905.39 3.19 0.35 0.0035
2350.00 3.98 5149.63 4.98 0.33 0.0033
2350.00 0.00 5238.49 1.73 0.33 0.0033
2380.00 1.28 4870.04 -7.03 0.33 0.0033
2340.00 -1.68 5128.23 5.30 0.33 0.0033
2380.00 1.71 5612.42 9.44 0.31 0.0031
2710.00 13.87 5979.07 6.53 0.31 0.0031
26695.0000 30.5731 62284.9600 -1.8302 4.2500 0.0425
2224.5833 5190.4133 0.3542 0.0035

2020
0.6827
0.1322
0.0246
0.0245

Kinerja Saham Bank BRI (Persero), Tbk

2018 2019 2020 Rata-Rata
0.8547 0.2242 0.6827 0.5872
-0.1166 0.0308 0.1322 0.0155
0.0743 0.0063 0.0246 0.0351
0.0004 0.0059 0.0245 0.0103
-0.0203 0.0215 -0.0183 -0.0057

Expected Return (%) Rata-Rata

0.0248 -0.0197 0.0255 0.0102
-0.0017 0.0018 -0.0015 -0.0005
Standar Deviasi (%) Rata-Rata
0.0824 0.0332 0.0669 0.0608
0.0311 0.0294 0.0765 0.0457
Beta Rata-Rata
-0.60 0.24 0.35 -0.0056
Rata-Rata Aset Bebas Risiko (%) Rata-Rata
0.4 0.5 0.4 0.4161
 Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

Jan 0.1089 0.0841 0.0070749 0.0393

Feb 0.0759 0.0511 0.0026107 -0.0013
Mar 0.2241 0.1993 0.0397078 -0.0619
Apr 0.0000 -0.0248 0.0006150 -0.0314
Mei 0.0136 -0.0112 0.0001263 -0.0018
Jun -0.0067 -0.0315 0.0009914 -0.0308
Jul 0.0404 0.0156 0.0002435 0.0237
Ags -0.0680 -0.0928 0.0086043 0.0138
Sept -0.0556 -0.0804 0.0064567 -0.0070
Okt -0.0625 -0.0873 0.0076210 -0.0242
Nov 0.0000 -0.0248 0.0006150 0.0385
Des 0.0275 0.0027 0.0000070 0.0228
Total Return 0.2975788 0.07467366 -0.0202676
Expected return 0.0247982 -0.0016890
Varian 0.0067885 0.0009703
Standart Dev. 0.0823924 0.0311494
Beta -0.6041213

Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

Jan -0.0153 0.0044 0.0000197 0.0546
Feb 0.0233 0.0430 0.0018457 -0.0137
Mar -0.0265 -0.0068 0.0000464 0.0039
Apr 0.0117 0.0314 0.0009846 -0.0021
Mei -0.0154 0.0043 0.0000187 -0.0381
Jun -0.0313 -0.0115 0.0001333 0.0241
Jul 0.0040 0.0237 0.0005635 0.0050
Ags 0.0000 0.0197 0.0003883 -0.0097
Sept -0.1044 -0.0847 0.0071761 -0.0252
Okt -0.0404 -0.0207 0.0004265 0.0096
Nov -0.0374 -0.0177 0.0003125 -0.0348
Des -0.0049 0.0149 0.0002206 0.0479
Total -0.2364697 0.01213586 0.0215486
expected return -0.0197058 0.0017957
Varian 0.0011033 0.0008667
Standart Dev. 0.0332154 0.0294399
 Beta 0.2419258

Tanggal R (Y) Y-Yi (Y-Yi)² Rm (X)

Jan -0.0634 -0.0889 0.0079018 -0.0571
Feb -0.0625 -0.0880 0.0077401 -0.0820
Mar 0.0306 0.0051 0.0000258 -0.1676
Apr 0.1590 0.1336 0.0178362 0.0391
Mei 0.0233 -0.0022 0.0000049 0.0079
Jun 0.0273 0.0018 0.0000032 0.0319
Jul 0.0398 0.0143 0.0002058 0.0498
Ags 0.0000 -0.0255 0.0006491 0.0173
Sept 0.0128 -0.0127 0.0001616 -0.0703
Okt -0.0168 -0.0423 0.0017880 0.0530
Nov 0.0171 -0.0084 0.0000703 0.0944
Des 0.1387 0.1132 0.0128092 0.0653
Total 0.3057308 0.04919594 -0.0183021
expected return 0.0254776 -0.0015252
Varian 0.0044724 0.0058519
Standart Dev. 0.0668757 0.0764976
Beta 0.3453525
 X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0410 0.0016827 0.00001191

0.0004 0.0000002 0.00000000
-0.0602 0.0036229 0.00014386
-0.0297 0.0008833 0.00000054
-0.0001 0.0000000 0.00000000
-0.0291 0.0008480 0.00000084
0.0253 0.0006425 0.00000016
0.0155 0.0002404 0.00000207
-0.0053 0.0000278 0.00000018
-0.0226 0.0005088 0.00000388
0.0402 0.0016145 0.00000099
0.0245 0.0006021 0.00000000
0.01067314 0.00016442

Covarian -0.0005862

41213

X-Xi (X-Xi)² (Y-Yi) (X-Xi)

0.0528 0.0027926 0.00000006
-0.0155 0.0002407 0.00000044
0.0021 0.0000046 0.00000000
-0.0039 0.0000150 0.00000001
-0.0399 0.0015951 0.00000003
0.0223 0.0004965 0.00000007
0.0032 0.0000103 0.00000001
-0.0115 0.0001323 0.00000005
-0.0270 0.0007279 0.00000522
0.0078 0.0000609 0.00000003
-0.0366 0.0013362 0.00000042
0.0461 0.0021217 0.00000047
0.00953381 0.00000680

Covarian 0.0002097
19258

X-Xi (X-Xi)² (Y-Yi) (X-Xi)

-0.0555 0.0030848 0.00002438
-0.0805 0.0064834 0.00005018
-0.1661 0.0275746 0.00000071
0.0406 0.0016504 0.00002944
0.0094 0.0000886 0.00000000
0.0335 0.0011192 0.00000000
0.0513 0.0026333 0.00000054
0.0188 0.0003527 0.00000023
-0.0688 0.0047348 0.00000077
0.0545 0.0029747 0.00000532
0.0959 0.0092048 0.00000065
0.0669 0.0044694 0.00005725
0.06437075 0.00016946

Covarian 0.0020210

53525
 Perhitungan ∑ Rp, E (Rp), Variance dan
Standar Deviasi Saham PT Indofarma, Tbk. (INAF)
Standar
No. Saham Tahun ∑ Rp E (Rp) Variance
Deviasi
2018 0.7144 0.0595 0.1395 0.3734
1 INAF 2019 -1.6099 -0.1342 0.0406 0.2015
2020 2.7936 0.2328 0.3185 0.5644
AVERAGE 0.6327 0.0527 0.1662 0.3798
MIN -1.6099 -0.1342 0.0406 0.2015
MAX 2.7936 0.2328 0.3185 0.5644

Perhitungan ∑ Rp, E (Rp), Variance dan

Standar Deviasi Saham PT Kimia farma (Persero), Tbk. (KAEF)
Standar
No. Saham Tahun ∑ Rp E (Rp) Variance
Deviasi
2018 -0.0061 -0.0005 0.0060 0.0774
1 KAEF 2019 -0.5451 -0.0454 0.0258 0.1605
2020 2.2405 0.1867 0.2429 0.4928
AVERAGE 0.5631 0.0469 0.0915 0.2436
MIN -0.5451 -0.0454 0.0060 0.0774
MAX 2.2405 0.1867 0.2429 0.4928
 Perhitungan ∑ Rp, E (Rp), Variance dan
Standar Deviasi Saham PT Indofood Sukses Makmur Tbk. (INDF)
Standar
No. Saham Tahun ∑ Rp E (Rp) Variance
Deviasi
2018 0.1288 -0.0023 -0.0002 0.0039
1 INDF 2019 -0.0031 0.0852 0.0071 0.0043
2020 -0.0352 -0.0950 -0.0079 0.0092
AVERAGE 0.0301 -0.0040 -0.0003 0.0058
MIN -0.0352 -0.0950 -0.0079 0.0039
MAX 0.1288 0.0852 0.0071 0.0092

Perhitungan ∑ Rp, E (Rp), Variance dan

Standar Deviasi Saham PT Kalbe Farma Tbk. (KLBF)
Standar
No. Saham Tahun ∑ Rp E (Rp) Variance
Deviasi
2018 -0.0033 -0.0835 -0.0070 0.0040
1 KLBF 2019 0.0623 0.0870 0.0072 0.0043
2020 -0.0166 -0.0494 -0.0041 0.0075
AVERAGE 0.0141 -0.0153 -0.0013 0.0053
MIN -0.0166 -0.0835 -0.0070 0.0040
MAX 0.0623 0.0870 0.0072 0.0075

Perhitungan ∑ Rp, E (Rp), Variance dan

Standar Deviasi Saham-Saham SWASTA
Standar
No. Saham Tahun ∑ Rp E (Rp) Variance
Deviasi
2018 0.0746 -0.1909 -0.0159 0.0028
1 UNVR 2019 0.0048 -0.0581 -0.0048 0.0037
2020 -0.0485 -0.1035 -0.0086 0.0053
AVERAGE 0.0103 -0.1175 -0.0098 0.0039
MIN -0.0485 -0.1909 -0.0159 0.0028
MAX 0.0746 -0.0581 -0.0048 0.0053

Perhitungan ∑ Rp, E (Rp), Variance dan

Standar Deviasi Saham-Saham SWASTA
Standar
No. Saham Tahun ∑ Rp E (Rp) Variance
Deviasi
2018 0.0275 0.2976 0.0248 0.0068
1 MYOR 2019 -0.0049 -0.2365 -0.0197 0.0011
2020 0.1387 0.3057 0.0255 0.0045
AVERAGE 0.0538 0.1223 0.0102 0.0041
MIN -0.0049 -0.2365 -0.0197 0.0011
MAX 0.1387 0.3057 0.0255 0.0068