Analysis of Islamic Stock Performance during the Covid-19 Pandemic in Indonesia
Keywords:
Covid-19, Islamic Stock Performance, Jansen Index, Sharpe Ratio, Treynor RatioAbstract
The COVID-19 pandemic spreading throughout the world has affected all aspects of life, including the capital market in Indonesia. This study analyzed the performance of Islamic stocks in Indonesia since COVID-19 was first confirmed in Wuhan, China from December 2019 to October 2021 using the Treynor Ratio, Sharpe Ratio, and Jansen Index with zakah-rate. In general, the results show that both ISSI, JII70, and JII30 have negative performance for the three tools. This means that the Covid-19 pandemic has had an impact on the declining performance of Islamic stocks in Indonesia.
References
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Nengsih I, and Mega Rahmi M. 2021. The Covid -19 Impact on the Capitalization of Indonesian Sharia Capital Market. Management and Economics Journal (5), 1, 175-186. DOI: http://dx.doi.org 10.18860/mec-j.v5i2.12068
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Qudratullah MF. 2020. Zakah Rate In Islamic Stock Performance Models: Evidence From Indonesia. IQTISHADIA. Vol: 13 (1): 107-125. DOI:10.21043/iqtishadia.v13i1.6004.
Retnoningsih S. and Naufa AM. 2021. The Covid-19, Policy And Capital Market: Empirical Evidence From Indonesia.Jurnal Reviu Akuntansi Dan Keuangan, 11(2), 412-429. DOI: 10.22219/jrak.v11i2.16855
Rifa'i AF, Qudratullah MF, and Riyanto. 2016. Pengembangan Website JII-Analisa.Com sebagai Alat Analisis Tipologi Saham Syariah di Indonesia. Integrated Lab Journal, Vol. 4 (2): 153-166. https://doi.org/10.14421/ilj.2016.%25x
Saputro TA, and Qudratullah MF. 2017. Optimasi Multi Objektif Pada Pemilihan Portofolio Saham Syariah Menggunakan Compromise Programming (CP) dan Nadir Compromise Programming (NCP). Jurnal Fourier, 6(2), 91–104. https://doi.org/10.14421/fourier.2017.62.91-104
Sharp WF. 1985. Investments. 3rd edition. Englewood Cliffs, New Jersey: Prentice-Hall
Van Horne J, and Wachowics Jr JM. 1992. Fundamentals of Financial Management eighth edition. Prentice-Hall International Edition.
Hidayatullah S, and Qudratullah MF. 2017. Analisis Risiko Investasi Saham Syariah dengan Model Value aT Risk-Asymmetric Power Autoregressive Conditional Heterocedasticity (VaR-APARCH). Jurnal Fourier, 6(1), 37–43. https://doi.org/10.14421/fourier.2017.61.37-43.
Jogiyanto H. 2007. Teori Portofolio dan Analisis Investasi, Edisi kelima. BPEE, Yogyakarta.
Mulhan MS, and Qudratullah MF. 2021. Pemodelan Return Saham Syariah di Indonesia menggunakan Model AGARCH dengan Distribusi Skewed Student-t. Jurnal Fourier, 10(1), 1–12. Retrieved from https://fourier.or.id/index.php/FOURIER/article/view/142.
Nengsih I, and Mega Rahmi M. 2021. The Covid -19 Impact on the Capitalization of Indonesian Sharia Capital Market. Management and Economics Journal (5), 1, 175-186. DOI: http://dx.doi.org 10.18860/mec-j.v5i2.12068
Qudratullah MF. 2012. Analisis Tipologi Saham Syariah Di Bursa Efek Indonesia Berdasarkan Nilai Return Dan Resiko (Value At Risk) Pasca Krisis Global 2008. Jurnal Fourier, 1(1), 17–26. https://doi.org/10.14421/fourier.2012.11.17-26.
Qudratullah MF. 2013. Perbandingan Berbagai Model Conditionally Heteroscedastic Time Series Dalam Analisis Risiko Investasi Saham Syariah Dengan Metode Value At Risk. Jurnal Fourier, 2(1), 1–9. https://doi.org/10.14421/fourier.2013.21.1-9.
Qudratullah MF. 2020. Zakah Rate In Islamic Stock Performance Models: Evidence From Indonesia. IQTISHADIA. Vol: 13 (1): 107-125. DOI:10.21043/iqtishadia.v13i1.6004.
Retnoningsih S. and Naufa AM. 2021. The Covid-19, Policy And Capital Market: Empirical Evidence From Indonesia.Jurnal Reviu Akuntansi Dan Keuangan, 11(2), 412-429. DOI: 10.22219/jrak.v11i2.16855
Rifa'i AF, Qudratullah MF, and Riyanto. 2016. Pengembangan Website JII-Analisa.Com sebagai Alat Analisis Tipologi Saham Syariah di Indonesia. Integrated Lab Journal, Vol. 4 (2): 153-166. https://doi.org/10.14421/ilj.2016.%25x
Saputro TA, and Qudratullah MF. 2017. Optimasi Multi Objektif Pada Pemilihan Portofolio Saham Syariah Menggunakan Compromise Programming (CP) dan Nadir Compromise Programming (NCP). Jurnal Fourier, 6(2), 91–104. https://doi.org/10.14421/fourier.2017.62.91-104
Sharp WF. 1985. Investments. 3rd edition. Englewood Cliffs, New Jersey: Prentice-Hall
Van Horne J, and Wachowics Jr JM. 1992. Fundamentals of Financial Management eighth edition. Prentice-Hall International Edition.
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Published
2022-02-22
How to Cite
Qudratullah, M. F. ., & Riyanto. (2022). Analysis of Islamic Stock Performance during the Covid-19 Pandemic in Indonesia. Proceeding International Conference on Religion, Science and Education, 1, 699–702. Retrieved from http://sunankalijaga.org/prosiding/index.php/icrse/article/view/856
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