ANALISIS PERBANDINGAN KINERJA EMAS DENGAN INDEKS HARGA SAHAM GABUNGAN (IHSG)

Abstract

The purpose of this study is to investigate the performance of gold and stocks as represented by Stock Price Index (SPI) and analyzed the performance comparisons between the two instruments such investment in the period of 2008-2012. Variable in this study is the rate of return (return), the level of risk as measured by standard deviation, and the value of risk adjusted return using the Sharpe ratio. SPI and Gold performance data obtained from the daily price of gold and the value of SPI were processed using Microsoft Excel and Minitab applications-14. Hypothesis testing is performed using different test analysis to see is there any significant difference between the performance of gold with SPI during the study period. The test results showed that there was no significant difference between the performance of gold and the SPI in the period of 2008-2012.