Establishment of Optimal Portfolio at Shares of Sub-Sector Building Companies In Indonesia Stock Exchange (Markowitz Approach)

Abstrak

The development of the global economy provides many opportunities for investors to invest. The purpose of this study is to determine the optimal stock portfolio in the sub-sector of building construction in Indonesia Stock Exchange by using Markowitz theory. This research was conducted in 2016 on shares of sub-sector building construction company. The data used in this research is secondary data obtained from BEI and Yahoo Finance. The number of samples used in this study as many as 9 company shares, with a saturated sampling technique. The analysis technique used in this research is descriptive analysis of optimal portfolio formation of Markowitz model and its data processing using Microsoft Excel 2013. Based on the results of analysis obtained from 9 shares of companies, there were 4 stocks in the optimal portfolio of Markowitz model, 4 of which were ADHI (9.77 percent), ACST (5.32 percent), PTPP (50 , 56 percent) and WSKT (34.35 percent) with expected return of 1.53 percent and risk level of 3.38 percent.