BAB 5 SIMPULAN DAN SARAN 5.1 Simpulanrepository.wima.ac.id/5149/6/bab 5.pdf · hasil penelitian yang dilakukan terhadap risiko pasar pada saham-saham perbankkan LQ 45 maka dapat di

69

BAB 5

SIMPULAN DAN SARAN

5.1 Simpulan

Berdasarkan perhitungan data, analisa data, dan pembahasan dari

hasil penelitian yang dilakukan terhadap risiko pasar pada saham-saham

perbankkan LQ 45 maka dapat di tarik kesimpulan sebagai berikut:

1. Dari hasil perhitungan di atas, dengan metode VAR dapat di ketahui

besarnya risiko pasar yang harus di tanggung selama berinvestasi suatu

saham. Hasil perhitungan dinyatakan dalam bentuk persen tetapi juga

dapat di nyatakan dalam bentuk sejumlah uang dengan mengalikan

nilai investasi saham tersebut.

2. Besaran risiko pasar hasil dari perhitungan VAR ini merupakan nilai

estimasi. Karena merupakan hasil estimasi maka risiko pasar yang

diperoleh tidak absolut atau mutlak, karena dalam pemilihan periode

data sampel dan pemilihan tingkat kepercayaan yang tidak tepat dapat

memiliki risiko tersendiri.

3. Perhitungan VAR dengan data historis dapat digunakan untuk

memprediksi resiko atau kerugian dimasa yang akan datang. Dalam

kondisi perekonomian di masa yang akan datang diharapkan cukup

stabil atau apabila mengalami tekanan bisa segera kembali stabil.

4. Rangkuman hasil perhitungan VAR 90% dan VAR 95% di tabelkan

sebagai berikut:

70

Tabel 5.1

Konsistensi VAR 90% dan VAR 95%

VAR 90% VAR 95%

VAR 1 tahun dengan

VAR 2 tahun konsisten konsisten

VAR 1 tahun dengan

VAR 3 tahun tidak konsisten konsisten

VAR 1 tahun dengan

VAR 5 tahun tidak konsisten konsisten

VAR 2 tahun dengan


VAR 2 tahun dengan


VAR 3 tahun dengan


Dari tabel di atas dapat di simpulkan konsistensi di pengaruhi oleh

tingkat kepercayaan. Sehingga dalam metode ini tingkat kepercayaan

95% dapat di gunakan. Dan tingkat kepercayaan 90% sebaiknya tidak

di gunakan.

5.2 Keterbatasan Data

1. Keterbatasan dari penelitian ini adalah penelitian ini hanya menguji

konsistensi dari asset tunggal pada tingkat kepercayaan 95% dan 90%

dan untuk 99% tidak diuji karena keterbatasan jumlah data.

2. Pengujian dilakukan pada asset tunggal tidak dilakukan pada portofolio

oleh karena pembentukan portofolio akan lebih efektif bila dilakukan

diversifikasi pada banyak jenis saham asset tunggal.

71

5.3 Saran

1. Bagi investor dan calon investor.

a. Bila kita berkomiten untuk berinvestasi sebaiknya tidak terlalu

terbelenggu oleh pedoman dalam mengestimasi risiko yang

mungkin akan didapat dari investasi, hal ini akan lebih baik bila

mempertimbangkan masa depan (jangka panjang) pada perusahaan

pilihannya untuk berinvestasi.

b. Untuk mengestimasi risiko perlu menetapkan tingkat kepercayaan

yang cermat karena tingkat kepercayaan yang tinggi nilai VAR

akan tinggi, dengan nilai VAR yang tinggi menunjukkan berisiko

tinggi. Hal ini membuat kita berhati-hati. Implikasinya kita tidak

berani melakukan investasi. Bila tingkat kepercayaan rendah

estimasi risiko menjadi kecil akibatnya kita menjadi ceroboh dalam

berinvestasi.

c. Risiko, sering kali menjadi hambatan kita masuk dalam pasar

modal oleh karena perhitungan-perhitungan yang rumit,

keterbatasan data, banyak pilihan metode dan pengembangan-

pengembangan metode perhitungan. Saran saya metode simulasi

historis, dengan data harga saham bulanan dan pada tingkat

kepercayaan 95% bisa di coba karena memiliki konsistensi

perhitungan hingga 5 tahun.

d. Saya sarankan investor bisa memanfaatkan metode ini dengan data

return bulanan, karena hasil perhitungan konsisten sampai dengan

5 tahun dengan demikian bisa menghemat waktu, tenaga, biaya,

dan memiliki waktu untuk mengambil keputusan terhadap

investasinya.

72

2. Bagi peneliti dan penelitian selanjutnya.

a. Ada baiknya uji konsistensi tidak hanya dilakukan pada saham-

saham unggulan seperti LQ 45 dan blue chip tetapi juga pada

saham-saham papan bawah.

b. Membandingkan konsistensi hasil perhitungan dari beberapa

metode secara bersama-sama terhadap jenis saham yang sama

untuk mengetahui kinerja dari metode yang digunakan.

Daftar Pustaka

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MARKET RISK: VALUE-AT-RISK AND BACKTESTING

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Horizon Problems and Extreme Events in Financial Risk

Management., di akses 2 Februari 2013

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at Risk, di akses 7 Desember 2012

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7 Desember 2012,

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peringatan.html

Holton, Glyn A., 2003, Value at Risk Theory and Practice

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http://fic.wharton.upenn.edu/fic/papers/97/9745.pdf

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Husnan, Suad., dan Pudjiastuti, Enny., 1998., Dasar teori Portofolio dan

Analisis Sekuruitas., edisi kedua., Yogyakarta., Unit Penerbit dan

Percetakan (UPP) AMPYKPN Yogyakarta

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BPFE-Yogyakarta.

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Analysis Journal, November/December 1996: pp 47-56

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Estimates, Journal, April 2012, di akses 7 Desember 2012

http://dx.doi.org/10.5539/ijef.v4n4p114

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akses 6 Desember 2012

managedaily.co.id/column/index/category/risk.../0

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Erlangga – Jakarta

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Risk (VAR) by Cluster Method in Chinese Stock Market, Journal,

di akses 8 Desember 2012

http://www.eurojournals.com/finance.htm

Sunaryo., 2009., Manajemen Risiko Financial., Jakarta: Salemba Empat-

Jakarta

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Yogyakarta: BPFE-Yogyakarta

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Working Paper 99-07-05., di akses 3 Maret 2013

http://iimahd.ernet.in/~jrvarma/papers/WP990705.pdf

http://dx.doi.org/10.5539/ijef.v4n4p114

http://www.eurojournals.com/finance.htm

http://iimahd.ernet.in/~jrvarma/papers/WP990705.pdf

Lampiran 1

Daftar Perusahaan-Perusahaan Sampel

No Kode Saham Nama Perusahaan

1. BBCA Bank Central Asia Tbk.

2. BBNI Bank Negara Indonesia (Persero)

3. BBRI Bank Rakyat Indonesia (Persero)

4. BDMN Bank Danamon Indonesia Tbk.

5. BMRI Bank Mandiri (Persero) Tbk.

Sumber: Bursa Efek Indonesia

Lampiran 2

Data Harga Saham Bank Central Asia Tbk.

Periode 1 Agustus 2007 – 1 Agustus 2012

No Date Close

1 1-Aug-07 3,000.00

2 3-Sep-07 3,075.00

3 1-Oct-07 3,650.00

4 1-Nov-07 3,550.00

5 3-Dec-07 3,650.00

6 1-Jan-08 3,550.00

7 1-Feb-08 3,575.00

8 3-Mar-08 3,250.00

9 1-Apr-08 3,000.00

10 2-May-08 2,775.00

11 2-Jun-08 2,475.00

12 1-Jul-08 3,025.00

13 1-Aug-08 3,175.00

14 1-Sep-08 3,150.00

15 6-Oct-08 2,700.00

16 3-Nov-08 2,700.00

17 1-Dec-08 3,250.00

18 5-Jan-09 2,750.00

19 2-Feb-09 2,350.00

20 2-Mar-09 3,100.00

21 1-Apr-09 3,350.00

22 1-May-09 3,375.00

23 1-Jun-09 3,525.00

24 1-Jul-09 3,775.00

25 3-Aug-09 4,250.00

26 1-Sep-09 4,625.00

27 1-Oct-09 4,575.00

28 2-Nov-09 4,800.00

29 1-Dec-09 4,850.00

30 4-Jan-10 5,000.00

31 1-Feb-10 4,875.00

32 1-Mar-10 5,500.00

33 1-Apr-10 5,450.00

34 3-May-10 5,550.00

35 1-Jun-10 5,950.00

36 1-Jul-10 5,950.00

37 2-Aug-10 5,800.00

38 1-Sep-10 6,700.00

39 1-Oct-10 7,000.00

40 1-Nov-10 6,050.00

41 1-Dec-10 6,400.00

42 3-Jan-11 5,650.00

43 1-Feb-11 6,300.00

44 1-Mar-11 6,950.00

45 1-Apr-11 7,400.00

46 2-May11 7,100.00

47 1- Jun-11 7,650.00

48 1- Jul- 11 8,300.00

49 1-Aug-11 8,000.00

50 5-Sep-11 7,700.00

51 3-Oct-11 8,100.00

52 1-Nov-11 7,900.00

53 1-Dec-11 8,000.00

54 2-Jan-12 8,000.00

55 1-Feb-12 7,600.00

56 1-Mar-12 8,000.00

57 2-Apr-12 8,000.00

58 1-May-12 7,000.00

59 1-Jun-12 7,300.00

60 2-Jul-12 8,000.00

61 1-Aug-12 7,950.00


Lampiran 3

Data Harga Saham Bank Negara Indonesia (Persero)


No Date Close

1 1-Aug-07 1,950.00

2 3-Sep-07 2,000.00

3 1-Oct-07 1,990.00

4 1-Nov-07 1,840.00

5 3-Dec-07 1,970.00

6 2-Jan-08 1,740.00

7 1-Feb-08 1,660.00

8 3-Mar-08 1,390.00

9 1-Apr-08 1,200.00

10 2-May-08 1,250.00

11 2-Jun-08 1,210.00

12 1-Jul-08 1,460.00

13 1-Aug-08 1,270.00

14 1-Sep-08 970.00

15 6-Oct-08 510.00

16 3-Nov-08 560.00

17 1-Dec-08 680.00

18 5-Jan-09 770.00

19 2-Feb-09 700.00

20 2-Mar-09 720.00

21 1-Apr-09 1,250.00

22 1-May-09 1,570.00

23 1-Jun-09 1,720.00

24 1-Jul-09 1,890.00

25 3-Aug-09 1,940.00

26 1-Sep-09 2,125.00

27 1-Oct-09 1,850.00

28 2-Nov-09 2,025.00

29 1-Dec-09 1,980.00

30 4-Jan-10 1,930.00

31 1-Feb-10 1,910.00

32 1-Mar-10 2,275.00

33 1-Apr-10 2,600.00

34 3-May-10 2,500.00

35 1-Jun-10 2,350.00

36 1-Jul-10 3,025.00

37 2-Aug-10 3,475.00

38 1-Sep-10 3,675.00

39 1-Oct-10 3,900.00

40 1-Nov-10 4,050.00

41 1-Dec-10 3,875.00

42 3-Jan-11 3,225.00

43 1-Feb-11 3,550.00

44 1-Mar-11 3,975.00

45 1-Apr-11 4,050.00

46 2-May-11 3,875.00

47 1-Jun-11 3,875.00

48 1-Jul-11 4,450.00

49 1-Aug-11 4,125.00

50 5-Sep-11 3,725.00

51 3-Oct-11 4,025.00

52 1-Nov-11 3,800.00

53 1-Dec-11 3,800.00

54 2-Jan-12 3,625.00

55 1-Feb-12 3,775.00

56 1-Mar-12 4,000.00

57 2-Apr-12 4,025.00

58 1-May-12 3,700.00

59 1-Jun-12 3,825.00

60 2-Jul-12 3,975.00

61 1-Aug-12 3,950.00


Lampiran 4

Data Harga Saham Bank Rakyat Indonesia (Persero)


No Date Close

1 1-Aug-07 3,125.00

2 3-Sep-07 3,300.00

3 1-Oct-07 3,875.00

4 1-Nov-07 3,900.00

5 3-Dec-07 3,700.00

6 1-Jan-08 3,500.00

7 1-Feb-08 3,600.00

8 3-Mar-08 3,150.00

9 1-Apr-08 2,975.00

10 1-May-08 2,900.00

11 2-Jun-08 2,550.00

12 1-Jul-08 3,050.00

13 1-Aug-08 2,925.00

14 1-Sep-08 2,700.00

15 1-Oct-08 1,725.00

16 3-Nov-08 1,700.00

17 1-Dec-08 2,287.50

18 1-Jan-09 2,275.00

19 2-Feb-09 1,862.50

20 2-Mar-09 2,100.00

21 1-Apr-09 2,900.00

22 1-May-09 3,125.00

23 1-Jun-09 3,150.00

24 1-Jul-09 3,650.00

25 3-Aug-09 3,800.00

26 1-Sep-09 3,750.00

27 1-Oct-09 3,550.00

28 2-Nov-09 3,700.00

29 1-Dec-09 3,825.00

30 4-Jan-10 3,825.00

31 1-Feb-10 3,575.00

32 1-Mar-10 4,125.00

33 1-Apr-10 4,475.00

34 3-May-10 4,300.00

35 1-Jun-10 4,650.00

36 1-Jul-10 4,950.00

37 2-Aug-10 4,650.00

38 1-Sep-10 5,000.00

39 1-Oct-10 5,700.00

40 1-Nov-10 5,250.00

41 1-Dec-10 5,250.00

42 3-Jan-11 4,850.00

43 1-Feb-11 4,700.00

44 1-Mar-11 5,750.00

45 1-Apr-11 6,450.00

46 2-May-11 6,350.00

47 1-Jun-11 6,500.00

48 1-Jul-11 6,900.00

49 1-Aug-11 6,550.00

50 5-Sep-11 5,850.00

51 3-Oct-11 6,750.00

52 1-Nov-11 6,500.00

53 1-Dec-11 6,750.00

54 2-Jan-12 6,850.00

55 1-Feb-12 6,900.00

56 1-Mar-12 6,950.00

57 2-Apr-12 6,650.00

58 1-May-12 5,650.00

59 1-Jun-12 6,350.00

60 2-Jul-12 7,000.00

61 1-Aug-12 6,950.00


Lampiran 5

Data Harga Saham Bank Danamon Indonesia Tbk.


No Date Close

1 1-Aug-07 8,050.00

2 3-Sep-07 8,450.00

3 1-Oct-07 8,650.00

4 1-Nov-07 8,300.00

5 3-Dec-07 8,000.00

6 2-Jan-08 7,200.00

7 1-Feb-08 7,650.00

8 3-Mar-08 6,900.00

9 1-Apr-08 5,700.00

10 2-May-08 5,700.00

11 2-Jun-08 4,700.00

12 1-Jul-08 5,550.00

13 1-Aug-08 5,400.00

14 1-Sep-08 4,900.00

15 6-Oct-08 2,600.00

16 3-Nov-08 2,625.00

17 1-Dec-08 3,100.00

18 5-Jan-09 2,275.00

19 2-Feb-09 2,625.00

20 2-Mar-09 3,125.00

21 1-Apr-09 3,125.00

22 1-May-09 3,750.00

23 1-Jun-09 4,825.00

24 1-Jul-09 4,825.00

25 3-Aug-09 4,700.00

26 1-Sep-09 4,950.00

27 1-Oct-09 4,550.00

28 2-Nov-09 4,425.00

29 1-Dec-09 4,550.00

30 4-Jan-10 4,850.00

31 1-Feb-10 4,975.00

32 1-Mar-10 5,200.00

33 1-Apr-10 5,800.00

34 3-May-10 5,150.00

35 1-Jun-10 5,400.00

36 1-Jul-10 5,350.00

37 2-Aug-10 5,350.00

38 1-Sep-10 5,800.00

39 1-Oct-10 6,700.00

40 1-Nov-10 6,500.00

41 1-Dec-10 5,700.00

42 3-Jan-11 5,950.00

43 1-Feb-11 6,400.00

44 1-Mar-11 6,550.00

45 1-Apr-11 6,200.00

46 2-May-11 6,200.00

47 1-Jun-11 6,000.00

48 1-Jul-11 5,450.00

49 1-Aug-11 5,200.00

50 5-Sep-11 4,600.00

51 3-Oct-11 4,975.00

52 1-Nov-11 4,400.00

53 1-Dec-11 4,100.00

54 2-Jan-12 4,525.00

55 1-Feb-12 4,475.00

56 1-Mar-12 4,600.00

57 2-Apr-12 5,600.00

58 1-May-12 5,300.00

59 1-Jun-12 6,000.00

60 2-Jul-12 6,050.00

61 1-Aug-12 6,100.00


Lampiran 6

Data Harga Saham Bank Mandiri (Persero) Tbk.


No Date Close

1 1-Aug-07 3,250.00

2 3-Sep-07 3,525.00

3 1-Oct-07 3,775.00

4 1-Nov-07 3,550.00

5 3-Dec-07 3,500.00

6 1-Jan-08 3,325.00

7 1-Feb-08 3,275.00

8 3-Mar-08 3,150.00

9 1-Apr-08 2,875.00

10 1-May-08 2,900.00

11 2-Jun-08 2,600.00

12 1-Jul-08 2,975.00

13 1-Aug-08 2,825.00

14 1-Sep-08 2,650.00

15 1-Oct-08 1,560.00

16 3-Nov-08 1,490.00

17 1-Dec-08 2,025.00

18 1-Jan-09 1,820.00

19 2-Feb-09 1,740.00

20 2-Mar-09 2,175.00

21 1-Apr-09 2,775.00

22 1-May-09 2,975.00

23 1-Jun-09 3,175.00

24 1-Jul-09 4,175.00

25 3-Aug-09 4,100.00

26 1-Sep-09 4,700.00

27 1-Oct-09 4,675.00

28 2-Nov-09 4,450.00

29 1-Dec-09 4,700.00

30 4-Jan-10 4,675.00

31 1-Feb-10 4,475.00

32 1-Mar-10 5,350.00

33 1-Apr-10 5,800.00

34 3-May-10 5,350.00

35 1-Jun-10 6,000.00

36 1-Jul-10 6,000.00

37 2-Aug-10 5,900.00

38 1-Sep-10 7,200.00

39 1-Oct-10 7,000.00

40 1-Nov-10 6,400.00

41 1-Dec-10 6,500.00

42 3-Jan-11 5,950.00

43 1-Feb-11 5,800.00

44 1-Mar-11 6,800.00

45 1-Apr-11 7,150.00

46 2-May-11 7,200.00

47 1-Jun-11 7,200.00

48 1-Jul-11 7,850.00

49 1-Aug-11 6,850.00

50 5-Sep-11 6,300.00

51 3-Oct-11 7,150.00

52 1-Nov-11 6,400.00

53 1-Dec-11 6,750.00

54 2-Jan-12 6,700.00

55 1-Feb-12 6,450.00

56 1-Mar-12 6,850.00

57 2-Apr-12 7,400.00

58 1-May-12 6,900.00

59 1-Jun-12 7,200.00

60 2-Jul-12 8,300.00

61 1-Aug-12 8,300.00


Lampiran 7

Perhitungan Return Saham Bank Central Asia Tbk.


No Date Close Return (%)

1 1-Aug-07 3,000.00

2 3-Sep-07 3,075.00 2.5000

3 1-Oct-07 3,650.00 18.6992

4 1-Nov-07 3,550.00 -2.7397

5 3-Dec-07 3,650.00 2.8169

6 1-Jan-08 3,550.00 -2.7397

7 1-Feb-08 3,575.00 0.7042

8 3-Mar-08 3,250.00 -9.0909

9 1-Apr-08 3,000.00 -7.6923

10 2-May-08 2,775.00 -7.5000

11 2-Jun-08 2,475.00 -10.8108

12 1-Jul-08 3,025.00 22.2222

13 1-Aug-08 3,175.00 4.9587

Sumber: Data yang diolah

Lampiran 8

Perhitungan Return Saham Bank Negara Indonesia (Persero)



1 1-Aug-07 1,950.00

2 3-Sep-07 2,000.00 2.5641

3 1-Oct-07 1,990.00 -0.5000

4 1-Nov-07 1,840.00 -7.5377

5 3-Dec-07 1,970.00 7.0652

6 2-Jan-08 1,740.00 -11.6751

7 1-Feb-08 1,660.00 -4.5977

8 3-Mar-08 1,390.00 -16.2651

9 1-Apr-08 1,200.00 -13.6691

10 2-May-08 1,250.00 4.1667

11 2-Jun-08 1,210.00 -3.2000

12 1-Jul-08 1,460.00 20.6612

13 1-Aug-08 1,270.00 -13.0137


Lampiran 9

Perhitungan Return Saham Bank Rakyat Indonesia (Persero)



1 1-Aug-07 3,125.00

2 3-Sep-07 3,300.00 5.6000

3 1-Oct-07 3,875.00 17.4242

4 1-Nov-07 3,900.00 0.6452

5 3-Dec-07 3,700.00 -5.1282

6 1-Jan-08 3,500.00 -5.4054

7 1-Feb-08 3,600.00 2.8571

8 3-Mar-08 3,150.00 -12.5000

9 1-Apr-08 2,975.00 -5.5556

10 1-May-08 2,900.00 -2.5210

11 2-Jun-08 2,550.00 -12.0690

12 1-Jul-08 3,050.00 19.6078

13 1-Aug-08 2,925.00 -4.0984


Lampiran 10

Perhitungan Return Saham Bank Danamon Indonesia Tbk.



1 1-Aug-07 8,050.00

2 3-Sep-07 8,450.00 4.9689

3 1-Oct-07 8,650.00 2.3669

4 1-Nov-07 8,300.00 -4.0462

5 3-Dec-07 8,000.00 -3.6145

6 2-Jan-08 7,200.00 -10.0000

7 1-Feb-08 7,650.00 6.2500

8 3-Mar-08 6,900.00 -9.8039

9 1-Apr-08 5,700.00 -17.3913

10 2-May-08 5,700.00 0.0000

11 2-Jun-08 4,700.00 -17.5439

12 1-Jul-08 5,550.00 18.0851

13 1-Aug-08 5,400.00 -2.7027


Lampiran 11

Perhitungan Return Saham Bank Mandiri (Persero) Tbk.



1 1-Aug-07 3,250.00

2 3-Sep-07 3,525.00 8.4615

3 1-Oct-07 3,775.00 7.0922

4 1-Nov-07 3,550.00 -5.9603

5 3-Dec-07 3,500.00 -1.4085

6 1-Jan-08 3,325.00 -5.0000

7 1-Feb-08 3,275.00 -1.5038

8 3-Mar-08 3,150.00 -3.8168

9 1-Apr-08 2,875.00 -8.7302

10 1-May-08 2,900.00 0.8696

11 2-Jun-08 2,600.00 -10.3448

12 1-Jul-08 2,975.00 14.4231

13 1-Aug-08 2,825.00 -5.0420


Lampiran 12




1 1-Aug-07 3,000.00

2 3-Sep-07 3,075.00 2.5000

3 1-Oct-07 3,650.00 18.6992

4 1-Nov-07 3,550.00 -2.7397

5 3-Dec-07 3,650.00 2.8169

6 1-Jan-08 3,550.00 -2.7397

7 1-Feb-08 3,575.00 0.7042

8 3-Mar-08 3,250.00 -9.0909

9 1-Apr-08 3,000.00 -7.6923

10 2-May-08 2,775.00 -7.5000

11 2-Jun-08 2,475.00 -10.8108

12 1-Jul-08 3,025.00 22.2222

13 1-Aug-08 3,175.00 4.9587

14 1-Sep-08 3,150.00 -0.7874

15 6-Oct-08 2,700.00 -14.2857

16 3-Nov-08 2,700.00 0.0000

17 1-Dec-08 3,250.00 20.3704

18 5-Jan-09 2,750.00 -15.3846

19 2-Feb-09 2,350.00 -14.5455

20 2-Mar-09 3,100.00 31.9149

21 1-Apr-09 3,350.00 8.0645

22 1-May-09 3,375.00 0.7463

23 1-Jun-09 3,525.00 4.4444

24 1-Jul-09 3,775.00 7.0922

25 3-Aug-09 4,250.00 12.5828


Lampiran 13




1 1-Aug-07 1,950.00

2 3-Sep-07 2,000.00 2.5641

3 1-Oct-07 1,990.00 -0.5000

4 1-Nov-07 1,840.00 -7.5377

5 3-Dec-07 1,970.00 7.0652

6 2-Jan-08 1,740.00 -11.6751

7 1-Feb-08 1,660.00 -4.5977

8 3-Mar-08 1,390.00 -16.2651

9 1-Apr-08 1,200.00 -13.6691

10 2-May-08 1,250.00 4.1667

11 2-Jun-08 1,210.00 -3.2000

12 1-Jul-08 1,460.00 20.6612

13 1-Aug-08 1,270.00 -13.0137

14 1-Sep-08 970.00 -23.6220

15 6-Oct-08 510.00 -47.4227

16 3-Nov-08 560.00 9.8039

17 1-Dec-08 680.00 21.4286

18 5-Jan-09 770.00 13.2353

19 2-Feb-09 700.00 -9.0909

20 2-Mar-09 720.00 2.8571

21 1-Apr-09 1,250.00 73.6111

22 1-May-09 1,570.00 25.6000

23 1-Jun-09 1,720.00 9.5541

24 1-Jul-09 1,890.00 9.8837

25 3-Aug-09 1,940.00 2.6455


Lampiran 14




1 1-Aug-07 3,125.00

2 3-Sep-07 3,300.00 5.6000

3 1-Oct-07 3,875.00 17.4242

4 1-Nov-07 3,900.00 0.6452

5 3-Dec-07 3,700.00 -5.1282

6 1-Jan-08 3,500.00 -5.4054

7 1-Feb-08 3,600.00 2.8571

8 3-Mar-08 3,150.00 -12.5000

9 1-Apr-08 2,975.00 -5.5556

10 1-May-08 2,900.00 -2.5210

11 2-Jun-08 2,550.00 -12.0690

12 1-Jul-08 3,050.00 19.6078

13 1-Aug-08 2,925.00 -4.0984

14 1-Sep-08 2,700.00 -7.6923

15 1-Oct-08 1,725.00 -36.1111

16 3-Nov-08 1,700.00 -1.4493

17 1-Dec-08 2,287.50 34.5588

18 1-Jan-09 2,275.00 -0.5464

19 2-Feb-09 1,862.50 -18.1319

20 2-Mar-09 2,100.00 12.7517

21 1-Apr-09 2,900.00 38.0952

22 1-May-09 3,125.00 7.7586

23 1-Jun-09 3,150.00 0.8000

24 1-Jul-09 3,650.00 15.8730

25 3-Aug-09 3,800.00 4.1096


Lampiran 15




1 1-Aug-07 8,050.00

2 3-Sep-07 8,450.00 4.9689

3 1-Oct-07 8,650.00 2.3669

4 1-Nov-07 8,300.00 -4.0462

5 3-Dec-07 8,000.00 -3.6145

6 2-Jan-08 7,200.00 -10.0000

7 1-Feb-08 7,650.00 6.2500

8 3-Mar-08 6,900.00 -9.8039

9 1-Apr-08 5,700.00 -17.3913

10 2-May-08 5,700.00 0.0000

11 2-Jun-08 4,700.00 -17.5439

12 1-Jul-08 5,550.00 18.0851

13 1-Aug-08 5,400.00 -2.7027

14 1-Sep-08 4,900.00 -9.2593

15 6-Oct-08 2,600.00 -46.9388

16 3-Nov-08 2,625.00 0.9615

17 1-Dec-08 3,100.00 18.0952

18 5-Jan-09 2,275.00 -26.6129

19 2-Feb-09 2,625.00 15.3846

20 2-Mar-09 3,125.00 19.0476

21 1-Apr-09 3,125.00 0.0000

22 1-May-09 3,750.00 20.0000

23 1-Jun-09 4,825.00 28.6667

24 1-Jul-09 4,825.00 0.0000

25 3-Aug-09 4,700.00 -2.5907


Lampiran 16




1 1-Aug-07 3,250.00

2 3-Sep-07 3,525.00 8.4615

3 1-Oct-07 3,775.00 7.0922

4 1-Nov-07 3,550.00 -5.9603

5 3-Dec-07 3,500.00 -1.4085

6 1-Jan-08 3,325.00 -5.0000

7 1-Feb-08 3,275.00 -1.5038

8 3-Mar-08 3,150.00 -3.8168

9 1-Apr-08 2,875.00 -8.7302

10 1-May-08 2,900.00 0.8696

11 2-Jun-08 2,600.00 -10.3448

12 1-Jul-08 2,975.00 14.4231

13 1-Aug-08 2,825.00 -5.0420

14 1-Sep-08 2,650.00 -6.1947

15 1-Oct-08 1,560.00 -41.1321

16 3-Nov-08 1,490.00 -4.4872

17 1-Dec-08 2,025.00 35.9060

18 1-Jan-09 1,820.00 -10.1235

19 2-Feb-09 1,740.00 -4.3956

20 2-Mar-09 2,175.00 25.0000

21 1-Apr-09 2,775.00 27.5862

22 1-May-09 2,975.00 7.2072

23 1-Jun-09 3,175.00 6.7227

24 1-Jul-09 4,175.00 31.4961

25 3-Aug-09 4,100.00 -1.7964


Lampiran 17




1 1-Aug-07 3,000.00

2 3-Sep-07 3,075.00 2.5000

3 1-Oct-07 3,650.00 18.6992

4 1-Nov-07 3,550.00 -2.7397

5 3-Dec-07 3,650.00 2.8169

6 1-Jan-08 3,550.00 -2.7397

7 1-Feb-08 3,575.00 0.7042

8 3-Mar-08 3,250.00 -9.0909

9 1-Apr-08 3,000.00 -7.6923

10 2-May-08 2,775.00 -7.5000

11 2-Jun-08 2,475.00 -10.8108

12 1-Jul-08 3,025.00 22.2222

13 1-Aug-08 3,175.00 4.9587

14 1-Sep-08 3,150.00 -0.7874

15 6-Oct-08 2,700.00 -14.2857

16 3-Nov-08 2,700.00 0.0000

17 1-Dec-08 3,250.00 20.3704

18 5-Jan-09 2,750.00 -15.3846

19 2-Feb-09 2,350.00 -14.5455

20 2-Mar-09 3,100.00 31.9149

21 1-Apr-09 3,350.00 8.0645

22 1-May-09 3,375.00 0.7463

23 1-Jun-09 3,525.00 4.4444

24 1-Jul-09 3,775.00 7.0922

25 3-Aug-09 4,250.00 12.5828

26 1-Sep-09 4,625.00 8.8235

27 1-Oct-09 4,575.00 -1.0811

28 2-Nov-09 4,800.00 4.9180

29 1-Dec-09 4,850.00 1.0417

30 4-Jan-10 5,000.00 3.0928

31 1-Feb-10 4,875.00 -2.5000

32 1-Mar-10 5,500.00 12.8205

33 1-Apr-10 5,450.00 -0.9091

34 3-May-10 5,550.00 1.8349

35 1-Jun-10 5,950.00 7.2072

36 1-Jul-10 5,950.00 0.0000

37 2-Aug-10 5,800.00 -2.5210


Lampiran 18




1 1-Aug-07 1,950.00

2 3-Sep-07 2,000.00 2.5641

3 1-Oct-07 1,990.00 -0.5000

4 1-Nov-07 1,840.00 -7.5377

5 3-Dec-07 1,970.00 7.0652

6 2-Jan-08 1,740.00 -11.6751

7 1-Feb-08 1,660.00 -4.5977

8 3-Mar-08 1,390.00 -16.2651

9 1-Apr-08 1,200.00 -13.6691

10 2-May-08 1,250.00 4.1667

11 2-Jun-08 1,210.00 -3.2000

12 1-Jul-08 1,460.00 20.6612

13 1-Aug-08 1,270.00 -13.0137

14 1-Sep-08 970.00 -23.6220

15 6-Oct-08 510.00 -47.4227

16 3-Nov-08 560.00 9.8039

17 1-Dec-08 680.00 21.4286

18 5-Jan-09 770.00 13.2353

19 2-Feb-09 700.00 -9.0909

20 2-Mar-09 720.00 2.8571

21 1-Apr-09 1,250.00 73.6111

22 1-May-09 1,570.00 25.6000

23 1-Jun-09 1,720.00 9.5541

24 1-Jul-09 1,890.00 9.8837

25 3-Aug-09 1,940.00 2.6455

26 1-Sep-09 2,125.00 9.5361

27 1-Oct-09 1,850.00 -12.9412

28 2-Nov-09 2,025.00 9.4595

29 1-Dec-09 1,980.00 -2.2222

30 4-Jan-10 1,930.00 -2.5253

31 1-Feb-10 1,910.00 -1.0363

32 1-Mar-10 2,275.00 19.1099

33 1-Apr-10 2,600.00 14.2857

34 3-May-10 2,500.00 -3.8462

35 1-Jun-10 2,350.00 -6.0000

36 1-Jul-10 3,025.00 28.7234

37 2-Aug-10 3,475.00 14.8760


Lampiran 19




1 1-Aug-07 3,125.00

2 3-Sep-07 3,300.00 5.6000

3 1-Oct-07 3,875.00 17.4242

4 1-Nov-07 3,900.00 0.6452

5 3-Dec-07 3,700.00 -5.1282

6 1-Jan-08 3,500.00 -5.4054

7 1-Feb-08 3,600.00 2.8571

8 3-Mar-08 3,150.00 -12.5000

9 1-Apr-08 2,975.00 -5.5556

10 1-May-08 2,900.00 -2.5210

11 2-Jun-08 2,550.00 -12.0690

12 1-Jul-08 3,050.00 19.6078

13 1-Aug-08 2,925.00 -4.0984

14 1-Sep-08 2,700.00 -7.6923

15 1-Oct-08 1,725.00 -36.1111

16 3-Nov-08 1,700.00 -1.4493

17 1-Dec-08 2,287.50 34.5588

18 1-Jan-09 2,275.00 -0.5464

19 2-Feb-09 1,862.50 -18.1319

20 2-Mar-09 2,100.00 12.7517

21 1-Apr-09 2,900.00 38.0952

22 1-May-09 3,125.00 7.7586

23 1-Jun-09 3,150.00 0.8000

24 1-Jul-09 3,650.00 15.8730

25 3-Aug-09 3,800.00 4.1096

26 1-Sep-09 3,750.00 -1.3158

27 1-Oct-09 3,550.00 -5.3333

28 2-Nov-09 3,700.00 4.2254

29 1-Dec-09 3,825.00 3.3784

30 4-Jan-10 3,825.00 0.0000

31 1-Feb-10 3,575.00 -6.5359

32 1-Mar-10 4,125.00 15.3846

33 1-Apr-10 4,475.00 8.4848

34 3-May-10 4,300.00 -3.9106

35 1-Jun-10 4,650.00 8.1395

36 1-Jul-10 4,950.00 6.4516

37 2-Aug-10 4,650.00 -6.0606


Lampiran 20




1 1-Aug-07 8,050.00

2 3-Sep-07 8,450.00 4.9689

3 1-Oct-07 8,650.00 2.3669

4 1-Nov-07 8,300.00 -4.0462

5 3-Dec-07 8,000.00 -3.6145

6 2-Jan-08 7,200.00 -10.0000

7 1-Feb-08 7,650.00 6.2500

8 3-Mar-08 6,900.00 -9.8039

9 1-Apr-08 5,700.00 -17.3913

10 2-May-08 5,700.00 0.0000

11 2-Jun-08 4,700.00 -17.5439

12 1-Jul-08 5,550.00 18.0851

13 1-Aug-08 5,400.00 -2.7027

14 1-Sep-08 4,900.00 -9.2593

15 6-Oct-08 2,600.00 -46.9388

16 3-Nov-08 2,625.00 0.9615

17 1-Dec-08 3,100.00 18.0952

18 5-Jan-09 2,275.00 -26.6129

19 2-Feb-09 2,625.00 15.3846

20 2-Mar-09 3,125.00 19.0476

21 1-Apr-09 3,125.00 0.0000

22 1-May-09 3,750.00 20.0000

23 1-Jun-09 4,825.00 28.6667

24 1-Jul-09 4,825.00 0.0000

25 3-Aug-09 4,700.00 -2.5907

26 1-Sep-09 4,950.00 5.3191

27 1-Oct-09 4,550.00 -8.0808

28 2-Nov-09 4,425.00 -2.7473

29 1-Dec-09 4,550.00 2.8249

30 4-Jan-10 4,850.00 6.5934

31 1-Feb-10 4,975.00 2.5773

32 1-Mar-10 5,200.00 4.5226

33 1-Apr-10 5,800.00 11.5385

34 3-May-10 5,150.00 -11.2069

35 1-Jun-10 5,400.00 4.8544

36 1-Jul-10 5,350.00 -0.9259

37 2-Aug-10 5,350.00 0.0000


Lampiran 21




1 1-Aug-07 3,250.00

2 3-Sep-07 3,525.00 8.4615

3 1-Oct-07 3,775.00 7.0922

4 1-Nov-07 3,550.00 -5.9603

5 3-Dec-07 3,500.00 -1.4085

6 1-Jan-08 3,325.00 -5.0000

7 1-Feb-08 3,275.00 -1.5038

8 3-Mar-08 3,150.00 -3.8168

9 1-Apr-08 2,875.00 -8.7302

10 1-May-08 2,900.00 0.8696

11 2-Jun-08 2,600.00 -10.3448

12 1-Jul-08 2,975.00 14.4231

13 1-Aug-08 2,825.00 -5.0420

14 1-Sep-08 2,650.00 -6.1947

15 1-Oct-08 1,560.00 -41.1321

16 3-Nov-08 1,490.00 -4.4872

17 1-Dec-08 2,025.00 35.9060

18 1-Jan-09 1,820.00 -10.1235

19 2-Feb-09 1,740.00 -4.3956

20 2-Mar-09 2,175.00 25.0000

21 1-Apr-09 2,775.00 27.5862

22 1-May-09 2,975.00 7.2072

23 1-Jun-09 3,175.00 6.7227

24 1-Jul-09 4,175.00 31.4961

25 3-Aug-09 4,100.00 -1.7964

26 1-Sep-09 4,700.00 14.6341

27 1-Oct-09 4,675.00 -0.5319

28 2-Nov-09 4,450.00 -4.8128

29 1-Dec-09 4,700.00 5.6180

30 4-Jan-10 4,675.00 -0.5319

31 1-Feb-10 4,475.00 -4.2781

32 1-Mar-10 5,350.00 19.5531

33 1-Apr-10 5,800.00 8.4112

34 3-May-10 5,350.00 -7.7586

35 1-Jun-10 6,000.00 12.1495

36 1-Jul-10 6,000.00 0.0000

37 2-Aug-10 5,900.00 -1.6667


Lampiran 22



No Date Close Return(%)

1 1-Aug-07 3,000.00

2 3-Sep-07 3,075.00 2.5000

3 1-Oct-07 3,650.00 18.6992

4 1-Nov-07 3,550.00 -2.7397

5 3-Dec-07 3,650.00 2.8169

6 1-Jan-08 3,550.00 -2.7397

7 1-Feb-08 3,575.00 0.7042

8 3-Mar-08 3,250.00 -9.0909

9 1-Apr-08 3,000.00 -7.6923

10 2-May-08 2,775.00 -7.5000

11 2-Jun-08 2,475.00 -10.8108

12 1-Jul-08 3,025.00 22.2222

13 1-Aug-08 3,175.00 4.9587

14 1-Sep-08 3,150.00 -0.7874

15 6-Oct-08 2,700.00 -14.2857

16 3-Nov-08 2,700.00 0.0000

17 1-Dec-08 3,250.00 20.3704

18 5-Jan-09 2,750.00 -15.3846

19 2-Feb-09 2,350.00 -14.5455

20 2-Mar-09 3,100.00 31.9149

21 1-Apr-09 3,350.00 8.0645

22 1-May-09 3,375.00 0.7463

23 1-Jun-09 3,525.00 4.4444

24 1-Jul-09 3,775.00 7.0922

25 3-Aug-09 4,250.00 12.5828

26 1-Sep-09 4,625.00 8.8235

27 1-Oct-09 4,575.00 -1.0811

28 2-Nov-09 4,800.00 4.9180

29 1-Dec-09 4,850.00 1.0417

30 4-Jan-10 5,000.00 3.0928

31 1-Feb-10 4,875.00 -2.5000

32 1-Mar-10 5,500.00 12.8205

33 1-Apr-10 5,450.00 -0.9091

34 3-May-10 5,550.00 1.8349

35 1-Jun-10 5,950.00 7.2072

36 1-Jul-10 5,950.00 0.0000

37 2-Aug-10 5,800.00 -2.5210

38 1-Sep-10 6,700.00 15.5172

39 1-Oct-10 7,000.00 4.4776

40 1-Nov-10 6,050.00 -13.5714

41 1-Dec-10 6,400.00 5.7851

42 3-Jan-11 5,650.00 -11.7188

43 1-Feb-11 6,300.00 11.5044

44 1-Mar-11 6,950.00 10.3175

45 1-Apr-11 7,400.00 6.4748

46 2-May-11 7,100.00 -4.0541

47 1-Jun-11 7,650.00 7.7465

48 1-Jul-11 8,300.00 8.4967

49 1-Aug-11 8,000.00 -3.6145

50 5-Sep-11 7,700.00 -3.7500

51 3-Oct-11 8,100.00 5.1948

52 1-Nov-11 7,900.00 -2.4691

53 1-Dec-11 8,000.00 1.2658

54 2-Jan-12 8,000.00 0.0000

55 1-Feb-12 7,600.00 -5.0000

56 1-Mar-12 8,000.00 5.2632

57 2-Apr-12 8,000.00 0.0000

58 1-May-12 7,000.00 -12.5000

59 1-Jun-12 7,300.00 4.2857

60 2-Jul-12 8,000.00 9.5890

61 1-Aug-12 7,950.00 -0.6250


Lampiran 23




1 1-Aug-07 1,950.00

2 3-Sep-07 2,000.00 2.5641

3 1-Oct-07 1,990.00 -0.5000

4 1-Nov-07 1,840.00 -7.5377

5 3-Dec-07 1,970.00 7.0652

6 2-Jan-08 1,740.00 -11.6751

7 1-Feb-08 1,660.00 -4.5977

8 3-Mar-08 1,390.00 -16.2651

9 1-Apr-08 1,200.00 -13.6691

10 2-May-08 1,250.00 4.1667

11 2-Jun-08 1,210.00 -3.2000

12 1-Jul-08 1,460.00 20.6612

13 1-Aug-08 1,270.00 -13.0137

14 1-Sep-08 970.00 -23.6220

15 6-Oct-08 510.00 -47.4227

16 3-Nov-08 560.00 9.8039

17 1-Dec-08 680.00 21.4286

18 5-Jan-09 770.00 13.2353

19 2-Feb-09 700.00 -9.0909

20 2-Mar-09 720.00 2.8571

21 1-Apr-09 1,250.00 73.6111

22 1-May-09 1,570.00 25.6000

23 1-Jun-09 1,720.00 9.5541

24 1-Jul-09 1,890.00 9.8837

25 3-Aug-09 1,940.00 2.6455

26 1-Sep-09 2,125.00 9.5361

27 1-Oct-09 1,850.00 -12.9412

28 2-Nov-09 2,025.00 9.4595

29 1-Dec-09 1,980.00 -2.2222

30 4-Jan-10 1,930.00 -2.5253

31 1-Feb-10 1,910.00 -1.0363

32 1-Mar-10 2,275.00 19.1099

33 1-Apr-10 2,600.00 14.2857

34 3-May-10 2,500.00 -3.8462

35 1-Jun-10 2,350.00 -6.0000

36 1-Jul-10 3,025.00 28.7234

37 2-Aug-10 3,475.00 14.8760

38 1-Sep-10 3,675.00 5.7554

39 1-Oct-10 3,900.00 6.1224

40 1-Nov-10 4,050.00 3.8462

41 1-Dec-10 3,875.00 -4.3210

42 3-Jan-11 3,225.00 -16.7742

43 1-Feb-11 3,550.00 10.0775

44 1-Mar-11 3,975.00 11.9718

45 1-Apr-11 4,050.00 1.8868

46 2-May-11 3,875.00 -4.3210

47 1-Jun-11 3,875.00 0.0000

48 1-Jul-11 4,450.00 14.8387

49 1-Aug-11 4,125.00 -7.3034

50 5-Sep-11 3,725.00 -9.6970

51 3-Oct-11 4,025.00 8.0537

52 1-Nov-11 3,800.00 -5.5901

53 1-Dec-11 3,800.00 0.0000

54 2-Jan-12 3,625.00 -4.6053

55 1-Feb-12 3,775.00 4.1379

56 1-Mar-12 4,000.00 5.9603

57 2-Apr-12 4,025.00 0.6250

58 1-May-12 3,700.00 -8.0745

59 1-Jun-12 3,825.00 3.3784

60 2-Jul-12 3,975.00 3.9216

61 1-Aug-12 3,950.00 -0.6289


Lampiran 24




1 1-Aug-07 3,125.00

2 3-Sep-07 3,300.00 5.6000

3 1-Oct-07 3,875.00 17.4242

4 1-Nov-07 3,900.00 0.6452

5 3-Dec-07 3,700.00 -5.1282

6 1-Jan-08 3,500.00 -5.4054

7 1-Feb-08 3,600.00 2.8571

8 3-Mar-08 3,150.00 -12.5000

9 1-Apr-08 2,975.00 -5.5556

10 1-May-08 2,900.00 -2.5210

11 2-Jun-08 2,550.00 -12.0690

12 1-Jul-08 3,050.00 19.6078

13 1-Aug-08 2,925.00 -4.0984

14 1-Sep-08 2,700.00 -7.6923

15 1-Oct-08 1,725.00 -36.1111

16 3-Nov-08 1,700.00 -1.4493

17 1-Dec-08 2,287.50 34.5588

18 1-Jan-09 2,275.00 -0.5464

19 2-Feb-09 1,862.50 -18.1319

20 2-Mar-09 2,100.00 12.7517

21 1-Apr-09 2,900.00 38.0952

22 1-May-09 3,125.00 7.7586

23 1-Jun-09 3,150.00 0.8000

24 1-Jul-09 3,650.00 15.8730

25 3-Aug-09 3,800.00 4.1096

26 1-Sep-09 3,750.00 -1.3158

27 1-Oct-09 3,550.00 -5.3333

28 2-Nov-09 3,700.00 4.2254

29 1-Dec-09 3,825.00 3.3784

30 4-Jan-10 3,825.00 0.0000

31 1-Feb-10 3,575.00 -6.5359

32 1-Mar-10 4,125.00 15.3846

33 1-Apr-10 4,475.00 8.4848

34 3-May-10 4,300.00 -3.9106

35 1-Jun-10 4,650.00 8.1395

36 1-Jul-10 4,950.00 6.4516

37 2-Aug-10 4,650.00 -6.0606

38 1-Sep-10 5,000.00 7.5269

39 1-Oct-10 5,700.00 14.0000

40 1-Nov-10 5,250.00 -7.8947

41 1-Dec-10 5,250.00 0.0000

42 3-Jan-11 4,850.00 -7.6190

43 1-Feb-11 4,700.00 -3.0928

44 1-Mar-11 5,750.00 22.3404

45 1-Apr-11 6,450.00 12.1739

46 2-May-11 6,350.00 -1.5504

47 1-Jun-11 6,500.00 2.3622

48 1-Jul-11 6,900.00 6.1538

49 1-Aug-11 6,550.00 -5.0725

50 5-Sep-11 5,850.00 -10.6870

51 3-Oct-11 6,750.00 15.3846

52 1-Nov-11 6,500.00 -3.7037

53 1-Dec-11 6,750.00 3.8462

54 2-Jan-12 6,850.00 1.4815

55 1-Feb-12 6,900.00 0.7299

56 1-Mar-12 6,950.00 0.7246

57 2-Apr-12 6,650.00 -4.3165

58 1-May-12 5,650.00 -15.0376

59 1-Jun-12 6,350.00 12.3894

60 2-Jul-12 7,000.00 10.2362

61 1-Aug-12 6,950.00 -0.7143


Lampiran 25




1 1-Aug-07 8,050.00

2 3-Sep-07 8,450.00 4.9689

3 1-Oct-07 8,650.00 2.3669

4 1-Nov-07 8,300.00 -4.0462

5 3-Dec-07 8,000.00 -3.6145

6 2-Jan-08 7,200.00 -10.0000

7 1-Feb-08 7,650.00 6.2500

8 3-Mar-08 6,900.00 -9.8039

9 1-Apr-08 5,700.00 -17.3913

10 2-May-08 5,700.00 0.0000

11 2-Jun-08 4,700.00 -17.5439

12 1-Jul-08 5,550.00 18.0851

13 1-Aug-08 5,400.00 -2.7027

14 1-Sep-08 4,900.00 -9.2593

15 6-Oct-08 2,600.00 -46.9388

16 3-Nov-08 2,625.00 0.9615

17 1-Dec-08 3,100.00 18.0952

18 5-Jan-09 2,275.00 -26.6129

19 2-Feb-09 2,625.00 15.3846

20 2-Mar-09 3,125.00 19.0476

21 1-Apr-09 3,125.00 0.0000

22 1-May-09 3,750.00 20.0000

23 1-Jun-09 4,825.00 28.6667

24 1-Jul-09 4,825.00 0.0000

25 3-Aug-09 4,700.00 -2.5907

26 1-Sep-09 4,950.00 5.3191

27 1-Oct-09 4,550.00 -8.0808

28 2-Nov-09 4,425.00 -2.7473

29 1-Dec-09 4,550.00 2.8249

30 4-Jan-10 4,850.00 6.5934

31 1-Feb-10 4,975.00 2.5773

32 1-Mar-10 5,200.00 4.5226

33 1-Apr-10 5,800.00 11.5385

34 3-May-10 5,150.00 -11.2069

35 1-Jun-10 5,400.00 4.8544

36 1-Jul-10 5,350.00 -0.9259

37 2-Aug-10 5,350.00 0.0000

38 1-Sep-10 5,800.00 8.4112

39 1-Oct-10 6,700.00 15.5172

40 1-Nov-10 6,500.00 -2.9851

41 1-Dec-10 5,700.00 -12.3077

42 3-Jan-11 5,950.00 4.3860

43 1-Feb-11 6,400.00 7.5630

44 1-Mar-11 6,550.00 2.3438

45 1-Apr-11 6,200.00 -5.3435

46 2-May-11 6,200.00 0.0000

47 1-Jun-11 6,000.00 -3.2258

48 1-Jul-11 5,450.00 -9.1667

49 1-Aug-11 5,200.00 -4.5872

50 5-Sep-11 4,600.00 -11.5385

51 3-Oct-11 4,975.00 8.1522

52 1-Nov-11 4,400.00 -11.5578

53 1-Dec-11 4,100.00 -6.8182

54 2-Jan-12 4,525.00 10.3659

55 1-Feb-12 4,475.00 -1.1050

56 1-Mar-12 4,600.00 2.7933

57 2-Apr-12 5,600.00 21.7391

58 1-May-12 5,300.00 -5.3571

59 1-Jun-12 6,000.00 13.2075

60 2-Jul-12 6,050.00 0.8333

61 1-Aug-12 6,100.00 0.8264


Lampiran 26




1 1-Aug-07 3,250.00

2 3-Sep-07 3,525.00 8.4615

3 1-Oct-07 3,775.00 7.0922

4 1-Nov-07 3,550.00 -5.9603

5 3-Dec-07 3,500.00 -1.4085

6 1-Jan-08 3,325.00 -5.0000

7 1-Feb-08 3,275.00 -1.5038

8 3-Mar-08 3,150.00 -3.8168

9 1-Apr-08 2,875.00 -8.7302

10 1-May-08 2,900.00 0.8696

11 2-Jun-08 2,600.00 -10.3448

12 1-Jul-08 2,975.00 14.4231

13 1-Aug-08 2,825.00 -5.0420

14 1-Sep-08 2,650.00 -6.1947

15 1-Oct-08 1,560.00 -41.1321

16 3-Nov-08 1,490.00 -4.4872

17 1-Dec-08 2,025.00 35.9060

18 1-Jan-09 1,820.00 -10.1235

19 2-Feb-09 1,740.00 -4.3956

20 2-Mar-09 2,175.00 25.0000

21 1-Apr-09 2,775.00 27.5862

22 1-May-09 2,975.00 7.2072

23 1-Jun-09 3,175.00 6.7227

24 1-Jul-09 4,175.00 31.4961

25 3-Aug-09 4,100.00 -1.7964

26 1-Sep-09 4,700.00 14.6341

27 1-Oct-09 4,675.00 -0.5319

28 2-Nov-09 4,450.00 -4.8128

29 1-Dec-09 4,700.00 5.6180

30 4-Jan-10 4,675.00 -0.5319

31 1-Feb-10 4,475.00 -4.2781

32 1-Mar-10 5,350.00 19.5531

33 1-Apr-10 5,800.00 8.4112

34 3-May-10 5,350.00 -7.7586

35 1-Jun-10 6,000.00 12.1495

36 1-Jul-10 6,000.00 0.0000

37 2-Aug-10 5,900.00 -1.6667

38 1-Sep-10 7,200.00 22.0339

39 1-Oct-10 7,000.00 -2.7778

40 1-Nov-10 6,400.00 -8.5714

41 1-Dec-10 6,500.00 1.5625

42 3-Jan-11 5,950.00 -8.4615

43 1-Feb-11 5,800.00 -2.5210

44 1-Mar-11 6,800.00 17.2414

45 1-Apr-11 7,150.00 5.1471

46 2-May-11 7,200.00 0.6993

47 1-Jun-11 7,200.00 0.0000

48 1-Jul-11 7,850.00 9.0278

49 1-Aug-11 6,850.00 -12.7389

50 5-Sep-11 6,300.00 -8.0292

51 3-Oct-11 7,150.00 13.4921

52 1-Nov-11 6,400.00 -10.4895

53 1-Dec-11 6,750.00 5.4688

54 2-Jan-12 6,700.00 -0.7407

55 1-Feb-12 6,450.00 -3.7313

56 1-Mar-12 6,850.00 6.2016

57 2-Apr-12 7,400.00 8.0292

58 1-May-12 6,900.00 -6.7568

59 1-Jun-12 7,200.00 4.3478

60 2-Jul-12 8,300.00 15.2778

61 1-Aug-12 8,300.00 0.0000


Lampiran 27

Pengurutan Return Saham Bank Central Asia Tbk.


No Bulan Return (%) Bulan Pengurutan

Return (%)

1 1 2.5000 10 -10.8108

2 2 18.6992 7 -9.0909

3 3 -2.7397 8 -7.6923

4 4 2.8169 9 -7.5000

5 5 -2.7397 3 -2.7397

6 6 0.7042 5 -2.7397

7 7 -9.0909 6 0.7042

8 8 -7.6923 1 2.5000

9 9 -7.5000 4 2.8169

10 10 -10.8108 12 4.9587

11 11 22.2222 2 18.6992

12 12 4.9587 11 22.2222

Rata-rata

0.9440


Lampiran 28

Pengurutan Return saham Bank Negara Indonesia (Persero)



Return (%)

1 1 2.5641 7 -16.2651

2 2 -0.5000 8 -13.6691

3 3 -7.5377 12 -13.0137

4 4 7.0652 5 -11.6751

5 5 -11.6751 3 -7.5377

6 6 -4.5977 6 -4.5977

7 7 -16.2651 10 -3.2000

8 8 -13.6691 2 -0.5000

9 9 4.1667 1 2.5641

10 10 -3.2000 9 4.1667

11 11 20.6612 4 7.0652

12 12 -13.0137 11 20.6612

Rata-rata -3.0001


Lampiran 29

Pengurutan Return saham Bank Rakyat Indonesia (Persero)


No Bulan Return (%) Bulan Pengurutan return

(%)

1 1 5.6000 7 -12.5000

2 2 17.4242 10 -12.0690

3 3 0.6452 8 -5.5556

4 4 -5.1282 5 -5.4054

5 5 -5.4054 4 -5.1282

6 6 2.8571 12 -4.0984

7 7 -12.5000 9 -2.5210

8 8 -5.5556 3 0.6452

9 9 -2.5210 6 2.8571

10 10 -12.0690 1 5.6000

11 11 19.6078 2 17.4242

12 12 -4.0984 11 19.6078

Rata-rata -0.0953


Lampiran 30

Pengurutan Return saham Bank Danamon Indonesia Tbk.



return (%)

1 1 4.9689 10 -17.5439

2 2 2.3669 8 -17.3913

3 3 -4.0462 5 -10.0000

4 4 -3.6145 7 -9.8039

5 5 -10.0000 3 -4.0462

6 6 6.2500 4 -3.6145

7 7 -9.8039 12 -2.7027

8 8 -17.3913 9 0.0000

9 9 0.0000 2 2.3669

10 10 -17.5439 1 4.9689

11 11 18.0851 6 6.2500

12 12 -2.7027 11 18.0851

Rata-rata -2.7860


Lampiran 31

Pengurutan Return saham Bank Mandiri (Persero) Tbk.


No Bulan Return (%) Bulan Pengurutan return

(%)

1 1 8.4615 10 -10.3448

2 2 7.0922 8 -8.7302

3 3 -5.9603 3 -5.9603

4 4 -1.4085 12 -5.0420

5 5 -5.0000 5 -5.0000

6 6 -1.5038 7 -3.8168

7 7 -3.8168 6 -1.5038

8 8 -8.7302 4 -1.4085

9 9 0.8696 9 0.8696

10 10 -10.3448 2 7.0922

11 11 14.4231 1 8.4615

12 12 -5.0420 11 14.4231

Rata-rata -0.9133


Lampiran 32

Pengurutan Return saham Bank Central Asia Tbk.



Return (%)

1 1 2.5000 17 -15.3846

2 2 18.6992 18 -14.5455

3 3 -2.7397 14 -14.2857

4 4 2.8169 10 -10.8108

5 5 -2.7397 7 -9.0909

6 6 0.7042 8 -7.6923

7 7 -9.0909 9 -7.5000

8 8 -7.6923 3 -2.7397

9 9 -7.5000 5 -2.7397

10 10 -10.8108 13 -0.7874

11 11 22.2222 15 0.0000

12 12 4.9587 6 0.7042

13 13 -0.7874 21 0.7463

14 14 -14.2857 1 2.5000

15 15 0.0000 4 2.8169

16 16 20.3704 22 4.4444

17 17 -15.3846 12 4.9587

18 18 -14.5455 23 7.0922

19 19 31.9149 20 8.0645

20 20 8.0645 24 12.5828

21 21 0.7463 2 18.6992

22 22 4.4444 16 20.3704

23 23 7.0922 11 22.2222

24 24 12.5828 19 31.9149

Rata-rata 2.1475


Lampiran 33



No Bulan Return (%) Bulan Pengurutan Return

(%)

1 1 2.5641 14 -47.4227

2 2 -0.5000 13 -23.6220

3 3 -7.5377 7 -16.2651

4 4 7.0652 8 -13.6691

5 5 -11.6751 12 -13.0137

6 6 -4.5977 5 -11.6751

7 7 -16.2651 18 -9.0909

8 8 -13.6691 3 -7.5377

9 9 4.1667 6 -4.5977

10 10 -3.2000 10 -3.2000

11 11 20.6612 2 -0.5000

12 12 -13.0137 1 2.5641

13 13 -23.6220 24 2.6455

14 14 -47.4227 19 2.8571

15 15 9.8039 9 4.1667

16 16 21.4286 4 7.0652

17 17 13.2353 22 9.5541

18 18 -9.0909 15 9.8039

19 19 2.8571 23 9.8837

20 20 73.6111 17 13.2353

21 21 25.6000 11 20.6612

22 22 9.5541 16 21.4286

23 23 9.8837 21 25.6000

24 24 2.6455 20 73.6111

Rata-rata 2.1868


Lampiran 34




Return (%)

1 1 5.6000 14 -36.1111

2 2 17.4242 18 -18.1319

3 3 0.6452 7 -12.5000

4 4 -5.1282 10 -12.0690

5 5 -5.4054 13 -7.6923

6 6 2.8571 8 -5.5556

7 7 -12.5000 5 -5.4054

8 8 -5.5556 4 -5.1282

9 9 -2.5210 12 -4.0984

10 10 -12.0690 9 -2.5210

11 11 19.6078 15 -1.4493

12 12 -4.0984 17 -0.5464

13 13 -7.6923 3 0.6452

14 14 -36.1111 22 0.8000

15 15 -1.4493 6 2.8571

16 16 34.5588 24 4.1096

17 17 -0.5464 1 5.6000

18 18 -18.1319 21 7.7586

19 19 12.7517 19 12.7517

20 20 38.0952 23 15.8730

21 21 7.7586 2 17.4242

22 22 0.8000 11 19.6078

23 23 15.8730 16 34.5588

24 24 4.1096 20 38.0952

Rata-rata 2.0364


Lampiran 35




(%)

1 1 4.9689 14 -46.9388

2 2 2.3669 17 -26.6129

3 3 -4.0462 10 -17.5439

4 4 -3.6145 8 -17.3913

5 5 -10.0000 5 -10.0000

6 6 6.2500 7 -9.8039

7 7 -9.8039 13 -9.2593

8 8 -17.3913 3 -4.0462

9 9 0.0000 4 -3.6145

10 10 -17.5439 12 -2.7027

11 11 18.0851 24 -2.5907

12 12 -2.7027 9 0.0000

13 13 -9.2593 20 0.0000

14 14 -46.9388 23 0.0000

15 15 0.9615 15 0.9615

16 16 18.0952 2 2.3669

17 17 -26.6129 1 4.9689

18 18 15.3846 6 6.2500

19 19 19.0476 18 15.3846

20 20 0.0000 11 18.0851

21 21 20.0000 16 18.0952

22 22 28.6667 19 19.0476

23 23 0.0000 21 20.0000

24 24 -2.5907 22 28.6667

Rata-rata -0.6949


Lampiran 36




Return (%)

1 1 8.4615 14 -41.1321

2 2 7.0922 10 -10.3448

3 3 -5.9603 17 -10.1235

4 4 -1.4085 8 -8.7302

5 5 -5.0000 13 -6.1947

6 6 -1.5038 3 -5.9603

7 7 -3.8168 12 -5.0420

8 8 -8.7302 5 -5.0000

9 9 0.8696 15 -4.4872

10 10 -10.3448 18 -4.3956

11 11 14.4231 7 -3.8168

12 12 -5.0420 24 -1.7964

13 13 -6.1947 6 -1.5038

14 14 -41.1321 4 -1.4085

15 15 -4.4872 9 0.8696

16 16 35.9060 22 6.7227

17 17 -10.1235 2 7.0922

18 18 -4.3956 21 7.2072

19 19 25.0000 1 8.4615

20 20 27.5862 11 14.4231

21 21 7.2072 19 25.0000

22 22 6.7227 20 27.5862

23 23 31.4961 23 31.4961

24 24 -1.7964 16 35.9060

Rata-rata 2.2845


Lampiran 37




(%)

1 1 2.5000 17 -15.3846

2 2 18.6992 18 -14.5455

3 3 -2.7397 14 -14.2857

4 4 2.8169 10 -10.8108

5 5 -2.7397 7 -9.0909

6 6 0.7042 8 -7.6923

7 7 -9.0909 9 -7.5000

8 8 -7.6923 3 -2.7397

9 9 -7.5000 5 -2.7397

10 10 -10.8108 36 -2.5210

11 11 22.2222 30 -2.5000

12 12 4.9587 26 -1.0811

13 13 -0.7874 32 -0.9091

14 14 -14.2857 13 -0.7874

15 15 0.0000 15 0.0000

16 16 20.3704 35 0.0000

17 17 -15.3846 6 0.7042

18 18 -14.5455 21 0.7463

19 19 31.9149 28 1.0417

20 20 8.0645 33 1.8349

21 21 0.7463 1 2.5000

22 22 4.4444 4 2.8169

23 23 7.0922 29 3.0928

24 24 12.5828 22 4.4444

25 25 8.8235 27 4.9180

26 26 -1.0811 12 4.9587

27 27 4.9180 23 7.0922

28 28 1.0417 34 7.2072

29 29 3.0928 20 8.0645

30 30 -2.5000 25 8.8235

31 31 12.8205 24 12.5828

32 32 -0.9091 31 12.8205

33 33 1.8349 2 18.6992

34 34 7.2072 16 20.3704

35 35 0.0000 11 22.2222

36 36 -2.5210 19 31.9149

Rata-rata 2.3408


Lampiran 38




(%)

1 1 2.5641 14 -47.4227

2 2 -0.5000 13 -23.6220

3 3 -7.5377 7 -16.2651

4 4 7.0652 8 -13.6691

5 5 -11.6751 12 -13.0137

6 6 -4.5977 26 -12.9412

7 7 -16.2651 5 -11.6751

8 8 -13.6691 18 -9.0909

9 9 4.1667 3 -7.5377

10 10 -3.2000 34 -6.0000

11 11 20.6612 6 -4.5977

12 12 -13.0137 33 -3.8462

13 13 -23.6220 10 -3.2000

14 14 -47.4227 29 -2.5253

15 15 9.8039 28 -2.2222

16 16 21.4286 30 -1.0363

17 17 13.2353 2 -0.5000

18 18 -9.0909 1 2.5641

19 19 2.8571 24 2.6455

20 20 73.6111 19 2.8571

21 21 25.6000 9 4.1667

22 22 9.5541 4 7.0652

23 23 9.8837 27 9.4595

24 24 2.6455 25 9.5361

25 25 9.5361 22 9.5541

26 26 -12.9412 15 9.8039

27 27 9.4595 23 9.8837

28 28 -2.2222 17 13.2353

29 29 -2.5253 32 14.2857

30 30 -1.0363 36 14.8760

31 31 19.1099 31 19.1099

32 32 14.2857 11 20.6612

33 33 -3.8462 16 21.4286

34 34 -6.0000 21 25.6000

35 35 28.7234 35 28.7234

36 36 14.8760 20 73.6111

Rata-rata 3.3306


Lampiran 39




(%)

1 1 5.6000 14 -36.1111

2 2 17.4242 18 -18.1319

3 3 0.6452 7 -12.5000

4 4 -5.1282 10 -12.0690

5 5 -5.4054 13 -7.6923

6 6 2.8571 30 -6.5359

7 7 -12.5000 36 -6.0606

8 8 -5.5556 8 -5.5556

9 9 -2.5210 5 -5.4054

10 10 -12.0690 26 -5.3333

11 11 19.6078 4 -5.1282

12 12 -4.0984 12 -4.0984

13 13 -7.6923 33 -3.9106

14 14 -36.1111 9 -2.5210

15 15 -1.4493 15 -1.4493

16 16 34.5588 25 -1.3158

17 17 -0.5464 17 -0.5464

18 18 -18.1319 29 0.0000

19 19 12.7517 3 0.6452

20 20 38.0952 22 0.8000

21 21 7.7586 6 2.8571

22 22 0.8000 28 3.3784

23 23 15.8730 24 4.1096

24 24 4.1096 27 4.2254

25 25 -1.3158 1 5.6000

26 26 -5.3333 35 6.4516

27 27 4.2254 21 7.7586

28 28 3.3784 34 8.1395

29 29 0.0000 32 8.4848

30 30 -6.5359 19 12.7517

31 31 15.3846 31 15.3846

32 32 8.4848 23 15.8730

33 33 -3.9106 2 17.4242

34 34 8.1395 11 19.6078

35 35 6.4516 16 34.5588

36 36 -6.0606 20 38.0952

Rata-rata 1.9939


Lampiran 40




(%)

1 1 4.9689 14 -46.9388

2 2 2.3669 17 -26.6129

3 3 -4.0462 10 -17.5439

4 4 -3.6145 8 -17.3913

5 5 -10.0000 33 -11.2069

6 6 6.2500 5 -10.0000

7 7 -9.8039 7 -9.8039

8 8 -17.3913 13 -9.2593

9 9 0.0000 26 -8.0808

10 10 -17.5439 3 -4.0462

11 11 18.0851 4 -3.6145

12 12 -2.7027 27 -2.7473

13 13 -9.2593 12 -2.7027

14 14 -46.9388 24 -2.5907

15 15 0.9615 35 -0.9259

16 16 18.0952 9 0.0000

17 17 -26.6129 20 0.0000

18 18 15.3846 23 0.0000

19 19 19.0476 36 0.0000

20 20 0.0000 15 0.9615

21 21 20.0000 2 2.3669

22 22 28.6667 30 2.5773

23 23 0.0000 28 2.8249

24 24 -2.5907 31 4.5226

25 25 5.3191 34 4.8544

26 26 -8.0808 1 4.9689

27 27 -2.7473 25 5.3191

28 28 2.8249 6 6.2500

29 29 6.5934 29 6.5934

30 30 2.5773 32 11.5385

31 31 4.5226 18 15.3846

32 32 11.5385 11 18.0851

33 33 -11.2069 16 18.0952

34 34 4.8544 19 19.0476

35 35 -0.9259 21 20.0000

36 36 0.0000 22 28.6667

Rata-rata -0.0391


Lampiran 41




(%)

1 1 8.4615 14 -41.1321

2 2 7.0922 10 -10.3448

3 3 -5.9603 17 -10.1235

4 4 -1.4085 8 -8.7302

5 5 -5.0000 33 -7.7586

6 6 -1.5038 13 -6.1947

7 7 -3.8168 3 -5.9603

8 8 -8.7302 12 -5.0420

9 9 0.8696 5 -5.0000

10 10 -10.3448 27 -4.8128

11 11 14.4231 15 -4.4872

12 12 -5.0420 18 -4.3956

13 13 -6.1947 30 -4.2781

14 14 -41.1321 7 -3.8168

15 15 -4.4872 24 -1.7964

16 16 35.9060 36 -1.6667

17 17 -10.1235 6 -1.5038

18 18 -4.3956 4 -1.4085

19 19 25.0000 26 -0.5319

20 20 27.5862 29 -0.5319

21 21 7.2072 35 0.0000

22 22 6.7227 9 0.8696

23 23 31.4961 28 5.6180

24 24 -1.7964 22 6.7227

25 25 14.6341 2 7.0922

26 26 -0.5319 21 7.2072

27 27 -4.8128 32 8.4112

28 28 5.6180 1 8.4615

29 29 -0.5319 34 12.1495

30 30 -4.2781 11 14.4231

31 31 19.5531 25 14.6341

32 32 8.4112 31 19.5531

33 33 -7.7586 19 25.0000

34 34 12.1495 20 27.5862

35 35 0.0000 23 31.4961

36 36 -1.6667 16 35.9060

Rata-rata 2.6560


Lampiran 42



No Bulan Return (%) Bulan Pegurutan

Return (%)

1 1 2.5000 17 -15.3846

2 2 18.6992 18 -14.5455

3 3 -2.7397 14 -14.2857

4 4 2.8169 39 -13.5714

5 5 -2.7397 57 -12.5000

6 6 0.7042 41 -11.7188

7 7 -9.0909 10 -10.8108

8 8 -7.6923 7 -9.0909

9 9 -7.5000 8 -7.6923

10 10 -10.8108 9 -7.5000

11 11 22.2222 54 -5.0000

12 12 4.9587 45 -4.0541

13 13 -0.7874 49 -3.7500

14 14 -14.2857 48 -3.6145

15 15 0.0000 3 -2.7397

16 16 20.3704 5 -2.7397

17 17 -15.3846 36 -2.5210

18 18 -14.5455 30 -2.5000

19 19 31.9149 51 -2.4691

20 20 8.0645 26 -1.0811

21 21 0.7463 32 -0.9091

22 22 4.4444 13 -0.7874

23 23 7.0922 60 -0.6250

24 24 12.5828 15 0.0000

25 25 8.8235 35 0.0000

26 26 -1.0811 53 0.0000

27 27 4.9180 56 0.0000

28 28 1.0417 6 0.7042

29 29 3.0928 21 0.7463

30 30 -2.5000 28 1.0417

31 31 12.8205 52 1.2658

32 32 -0.9091 33 1.8349

33 33 1.8349 1 2.5000

34 34 7.2072 4 2.8169

35 35 0.0000 29 3.0928

36 36 -2.5210 58 4.2857

37 37 15.5172 22 4.4444

38 38 4.4776 38 4.4776

39 39 -13.5714 27 4.9180

40 40 5.7851 12 4.9587

41 41 -11.7188 50 5.1948

42 42 11.5044 55 5.2632

43 43 10.3175 40 5.7851

44 44 6.4748 44 6.4748

45 45 -4.0541 23 7.0922

46 46 7.7465 34 7.2072

47 47 8.4967 46 7.7465

48 48 -3.6145 20 8.0645

49 49 -3.7500 47 8.4967

50 50 5.1948 25 8.8235

51 51 -2.4691 59 9.5890

52 52 1.2658 43 10.3175

53 53 0.0000 42 11.5044

54 54 -5.0000 24 12.5828

55 55 5.2632 31 12.8205

56 56 0.0000 37 15.5172

57 57 -12.5000 2 18.6992

58 58 4.2857 16 20.3704

59 59 9.5890 11 22.2222

60 60 -0.6250 19 31.9149

Rata-rata 2.0481


Lampiran 43




Return (%)

1 1 2.5641 14 -47.4227

2 2 -0.5000 13 -23.6220

3 3 -7.5377 41 -16.7742

4 4 7.0652 7 -16.2651

5 5 -11.6751 8 -13.6691

6 6 -4.5977 12 -13.0137

7 7 -16.2651 26 -12.9412

8 8 -13.6691 5 -11.6751

9 9 4.1667 49 -9.6970

10 10 -3.2000 18 -9.0909

11 11 20.6612 57 -8.0745

12 12 -13.0137 3 -7.5377

13 13 -23.6220 48 -7.3034

14 14 -47.4227 34 -6.0000

15 15 9.8039 51 -5.5901

16 16 21.4286 53 -4.6053

17 17 13.2353 6 -4.5977

18 18 -9.0909 40 -4.3210

19 19 2.8571 45 -4.3210

20 20 73.6111 33 -3.8462

21 21 25.6000 10 -3.2000

22 22 9.5541 29 -2.5253

23 23 9.8837 28 -2.2222

24 24 2.6455 30 -1.0363

25 25 9.5361 60 -0.6289

26 26 -12.9412 2 -0.5000

27 27 9.4595 46 0.0000

28 28 -2.2222 52 0.0000

29 29 -2.5253 56 0.6250

30 30 -1.0363 44 1.8868

31 31 19.1099 1 2.5641

32 32 14.2857 24 2.6455

33 33 -3.8462 19 2.8571

34 34 -6.0000 58 3.3784

35 35 28.7234 39 3.8462

36 36 14.8760 59 3.9216

37 37 5.7554 54 4.1379

38 38 6.1224 9 4.1667

39 39 3.8462 37 5.7554

40 40 -4.3210 55 5.9603

41 41 -16.7742 38 6.1224

42 42 10.0775 4 7.0652

43 43 11.9718 50 8.0537

44 44 1.8868 27 9.4595

45 45 -4.3210 25 9.5361

46 46 0.0000 22 9.5541

47 47 14.8387 15 9.8039

48 48 -7.3034 23 9.8837

49 49 -9.6970 42 10.0775

50 50 8.0537 43 11.9718

51 51 -5.5901 17 13.2353

52 52 0.0000 32 14.2857

53 53 -4.6053 47 14.8387

54 54 4.1379 36 14.8760

55 55 5.9603 31 19.1099

56 56 0.6250 11 20.6612

57 57 -8.0745 16 21.4286

58 58 3.3784 21 25.6000

59 59 3.9216 35 28.7234

60 60 -0.6289 20 73.6111

Rata-rata 2.3194


Lampiran 44



No Bulan Return (%) Bulan Peengurutan

Return (%)

1 1 5.6000 14 -36.1111

2 2 17.4242 18 -18.1319

3 3 0.6452 57 -15.0376

4 4 -5.1282 7 -12.5000

5 5 -5.4054 10 -12.0690

6 6 2.8571 49 -10.6870

7 7 -12.5000 39 -7.8947

8 8 -5.5556 13 -7.6923

9 9 -2.5210 41 -7.6190

10 10 -12.0690 30 -6.5359

11 11 19.6078 36 -6.0606

12 12 -4.0984 8 -5.5556

13 13 -7.6923 5 -5.4054

14 14 -36.1111 26 -5.3333

15 15 -1.4493 4 -5.1282

16 16 34.5588 48 -5.0725

17 17 -0.5464 56 -4.3165

18 18 -18.1319 12 -4.0984

19 19 12.7517 33 -3.9106

20 20 38.0952 51 -3.7037

21 21 7.7586 42 -3.0928

22 22 0.8000 9 -2.5210

23 23 15.8730 45 -1.5504

24 24 4.1096 15 -1.4493

25 25 -1.3158 25 -1.3158

26 26 -5.3333 60 -0.7143

27 27 4.2254 17 -0.5464

28 28 3.3784 29 0.0000

29 29 0.0000 40 0.0000

30 30 -6.5359 3 0.6452

31 31 15.3846 55 0.7246

32 32 8.4848 54 0.7299

33 33 -3.9106 22 0.8000

34 34 8.1395 53 1.4815

35 35 6.4516 46 2.3622

36 36 -6.0606 6 2.8571

37 37 7.5269 28 3.3784

38 38 14.0000 52 3.8462

39 39 -7.8947 24 4.1096

40 40 0.0000 27 4.2254

41 41 -7.6190 1 5.6000

42 42 -3.0928 47 6.1538

43 43 22.3404 35 6.4516

44 44 12.1739 37 7.5269

45 45 -1.5504 21 7.7586

46 46 2.3622 34 8.1395

47 47 6.1538 32 8.4848

48 48 -5.0725 59 10.2362

49 49 -10.6870 44 12.1739

50 50 15.3846 58 12.3894

51 51 -3.7037 19 12.7517

52 52 3.8462 38 14.0000

53 53 1.4815 31 15.3846

54 54 0.7299 50 15.3846

55 55 0.7246 23 15.8730

56 56 -4.3165 2 17.4242

57 57 -15.0376 11 19.6078

58 58 12.3894 43 22.3404

59 59 10.2362 16 34.5588

60 60 -0.7143 20 38.0952

Rata-rata 2.0240


Lampiran 45




Return (%)

1 1 4.9689 14 -46.9388

2 2 2.3669 17 -26.6129

3 3 -4.0462 10 -17.5439

4 4 -3.6145 8 -17.3913

5 5 -10.0000 40 -12.3077

6 6 6.2500 51 -11.5578

7 7 -9.8039 49 -11.5385

8 8 -17.3913 33 -11.2069

9 9 0.0000 5 -10.0000

10 10 -17.5439 7 -9.8039

11 11 18.0851 13 -9.2593

12 12 -2.7027 47 -9.1667

13 13 -9.2593 26 -8.0808

14 14 -46.9388 52 -6.8182

15 15 0.9615 57 -5.3571

16 16 18.0952 44 -5.3435

17 17 -26.6129 48 -4.5872

18 18 15.3846 3 -4.0462

19 19 19.0476 4 -3.6145

20 20 0.0000 46 -3.2258

21 21 20.0000 39 -2.9851

22 22 28.6667 27 -2.7473

23 23 0.0000 12 -2.7027

24 24 -2.5907 24 -2.5907

25 25 5.3191 54 -1.1050

26 26 -8.0808 35 -0.9259

27 27 -2.7473 9 0.0000

28 28 2.8249 20 0.0000

29 29 6.5934 23 0.0000

30 30 2.5773 36 0.0000

31 31 4.5226 45 0.0000

32 32 11.5385 60 0.8264

33 33 -11.2069 59 0.8333

34 34 4.8544 15 0.9615

35 35 -0.9259 43 2.3438

36 36 0.0000 2 2.3669

37 37 8.4112 30 2.5773

38 38 15.5172 55 2.7933

39 39 -2.9851 28 2.8249

40 40 -12.3077 41 4.3860

41 41 4.3860 31 4.5226

42 42 7.5630 34 4.8544

43 43 2.3438 1 4.9689

44 44 -5.3435 25 5.3191

45 45 0.0000 6 6.2500

46 46 -3.2258 29 6.5934

47 47 -9.1667 42 7.5630

48 48 -4.5872 50 8.1522

49 49 -11.5385 37 8.4112

50 50 8.1522 53 10.3659

51 51 -11.5578 32 11.5385

52 52 -6.8182 58 13.2075

53 53 10.3659 18 15.3846

54 54 -1.1050 38 15.5172

55 55 2.7933 11 18.0851

56 56 21.7391 16 18.0952

57 57 -5.3571 19 19.0476

58 58 13.2075 21 20.0000

59 59 0.8333 56 21.7391

60 60 0.8264 22 28.6667

Rata-rata 0.3456


Lampiran 46




Return (%)

1 1 8.4615 14 -41.1321

2 2 7.0922 48 -12.7389

3 3 -5.9603 51 -10.4895

4 4 -1.4085 10 -10.3448

5 5 -5.0000 17 -10.1235

6 6 -1.5038 8 -8.7302

7 7 -3.8168 39 -8.5714

8 8 -8.7302 41 -8.4615

9 9 0.8696 49 -8.0292

10 10 -10.3448 33 -7.7586

11 11 14.4231 57 -6.7568

12 12 -5.0420 13 -6.1947

13 13 -6.1947 3 -5.9603

14 14 -41.1321 12 -5.0420

15 15 -4.4872 5 -5.0000

16 16 35.9060 27 -4.8128

17 17 -10.1235 15 -4.4872

18 18 -4.3956 18 -4.3956

19 19 25.0000 30 -4.2781

20 20 27.5862 7 -3.8168

21 21 7.2072 54 -3.7313

22 22 6.7227 38 -2.7778

23 23 31.4961 42 -2.5210

24 24 -1.7964 24 -1.7964

25 25 14.6341 36 -1.6667

26 26 -0.5319 6 -1.5038

27 27 -4.8128 4 -1.4085

28 28 5.6180 53 -0.7407

29 29 -0.5319 26 -0.5319

30 30 -4.2781 29 -0.5319

31 31 19.5531 35 0.0000

32 32 8.4112 46 0.0000

33 33 -7.7586 60 0.0000

34 34 12.1495 45 0.6993

35 35 0.0000 9 0.8696

36 36 -1.6667 40 1.5625

37 37 22.0339 58 4.3478

38 38 -2.7778 44 5.1471

39 39 -8.5714 52 5.4688

40 40 1.5625 28 5.6180

41 41 -8.4615 55 6.2016

42 42 -2.5210 22 6.7227

43 43 17.2414 2 7.0922

44 44 5.1471 21 7.2072

45 45 0.6993 56 8.0292

46 46 0.0000 32 8.4112

47 47 9.0278 1 8.4615

48 48 -12.7389 47 9.0278

49 49 -8.0292 34 12.1495

50 50 13.4921 50 13.4921

51 51 -10.4895 11 14.4231

52 52 5.4688 25 14.6341

53 53 -0.7407 59 15.2778

54 54 -3.7313 43 17.2414

55 55 6.2016 31 19.5531

56 56 8.0292 37 22.0339

57 57 -6.7568 19 25.0000

58 58 4.3478 20 27.5862

59 59 15.2778 23 31.4961

60 60 0.0000 16 35.9060

Rata-rata 2.3221


Lampiran 47

Tabel

Rangkuman VAR Per Lembar Saham Asset Tunggal dan Return Rata-

rata Saham Perbankan LQ 45 Periode 1 Agustus 2007 – 1 Agustus 2012

No Bank Tahun VAR 90% VAR 95% R

1 BBCA

1 tahun -10.1668 -10.8108 0.9440

2 tahun -14.4416 -15.2167 2.1475

3 tahun -12.2008 -14.7133 2.3408

5 tahun -11.7188 -14.2857 2.0481

2 BBNI

1 tahun -15.7459 -16.2651 -3.0010

2 tahun -20.6792 -42.6625 2.1864

3 tahun -14.7075 -28.3821 3.3306

5 tahun -13.0137 -16.7742 2.3194

3 BBRI

1 tahun -12.4138 -12.5000 -5.1431

2 tahun -15.8791 -32.5152 2.0364

3 tahun -12.2414 -21.7277 1.9939

5 tahun -10.6870 -15.0376 2.0240

4 BDMN

1 tahun -17.5130 -17.5439 -2.7860

2 tahun -22.9853 -42.8736 -0.0695

3 tahun -17.4523 -30.6781 -0.0391

5 tahun -11.6578 -17.5439 0.3456

5 BMRI

1 tahun -9.9489 -10.3448 -0.9133

2 tahun -10.2563 -34.9746 2.2845

3 tahun -9.2875 -16.5023 2.6560

5 tahun -8.7302 -18.4899 2.3221

Lampiran 48

Hasil Uji VAR 90% 1 Tahun dengan 2 Tahun

Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9001 2.00

VAR9002 1.00

Test Statistics

N 5

Kendall's W(a) 1.000

Chi-Square 5.000

df 1

Asymp. Sig. .025

a Kendall's Coefficient of concordance

Lampiran 49


Kendall W Test

Kendall's W Test

Ranks

Test Statistics

N 5

Kendall's W(a) .360

Chi-Square 1.800

df 1

Asymp. Sig. .180

a Kendall's Coefficient of Concordance

Mean Rank

VAR9001 1.20

VAR9003 1.80

Lampiran 50


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9001 1.20

VAR9005 1.80

Test Statistics

N 5

Kendall's W(a) .360

Chi-Square 1.800

df 1

Asymp. Sig. .180


Lampiran 51


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9002 1.00

VAR9003 2.00

Test Statistics

N 5


Chi-Square 5.000

df 1

Asymp. Sig. .025


Lampiran 52


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9002 1.00

VAR9005 2.00

Test Statistics

N 5


Chi-Square 5.000

df 1

Asymp. Sig. .025


Lampiran 53


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9005 2.00

VAR9003 1.00

Test Statistics

N 5


Chi-Square 5.000

df 1

Asymp. Sig. .025


Lampiran 54


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9501 2.00

VAR9502 1.00

Test Statistics

N 5


Chi-Square 5.000

df 1

Asymp. Sig. .025


Lampiran 55


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9501 2.00

VAR9503 1.00

Test Statistics

N 5


Chi-Square 5.000

df 1

Asymp. Sig. .025


Lampiran 56


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9501 1.90

VAR9505 1.10

Test Statistics

N 5

Kendall's W(a) .800

Chi-Square 4.000

df 1

Asymp. Sig. .046


Lampiran 57


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9502 1.00

VAR9503 2.00

Test Statistics

N 5


Chi-Square 5.000

df 1

Asymp. Sig. .025


Lampiran 58


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9502 1.00

VAR9505 2.00

Test Statistics

N 5


Chi-Square 5.000

df 1

Asymp. Sig. .025


Lampiran 59


Kendall W Test

Kendall's W Test

Ranks

Mean Rank

VAR9505 2.00

VAR9503 1.00

Test Statistics

N 5


Chi-Square 5.000

df 1

Asymp. Sig. .025


Documents

BAB 5 SIMPULAN DAN SARAN 5.1 Simpulanrepository.wima.ac.id/5149/6/bab 5.pdf · hasil penelitian yang dilakukan terhadap risiko pasar pada saham-saham perbankkan LQ 45 maka dapat di