KORELASI PASAR MODAL NEGARA ASEAN-5 DIERA MASYARAKAT EKONOMI ASEAN TERHADAP PELUANG DIVERSIFIKASI INVESTASI INTERNASIONAL
DOI:
https://doi.org/10.24127/jf.v2i1.361Keywords:
Investasi, Diversifikasi, Portofolio.Abstract
Penelitian ini bersifat deskriptif korelasional, yang menggunakan data sekunder Indeks Harga Saham Gabungan bulanan Bursa Efek Pasar Modal ASEAN 5 Tahun 2016. Sesuai dengan teori Markowitz (1952), manfaat utama diversifikasi secara kuantitatif dengan menggunakan portofolio yang terdiri atas dua aset berisiko. Melalui matematika sederhana, Markowitz mampu membuktikan jika risiko portofolio dapat menjadi minimum jika kedua aset itu mempunyai koefisien korelasi negatif.
Berdasarkan analisis data tentang nilai korelasi, pasar modal periode Juni – Desember 2016 dari 5 negara yang memiliki nilai korelasi negatif yaitu: (Indonesia-Singapura), (Malaysia-Singapura), dan (Philipina-Singapura). Periode semester ke-2 di tahun 2016, menunjukkan peluang investasi untuk memaksimalkan keuntungan dan meminimalkan risiko diversifikasi investasi pada negara (Indonesia-Singapura), (Malaysia-Singapura), (Philipina-Singapura). Artinya jika investor yang rasional menginginkan return yang tinggi dan risiko yang rendah, maka negara (Indonesia- Singapura), (Malaysia-Singapura), dan (Philipina-Singapura) yang menjadi alternatif pilihan Investasi. Peluang ini tentu perlu dimanfaat dengan baik oleh para investor untuk memaksimalkan investasinya, namun tetap memperhatikan berbagai variabel yang dapat mempengaruhi hasil investasi pada sarana investasi pasar modal.
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Katakunci: Investasi, Diversifikasi, Portofolio.
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