Analysis Of The Combination Of Expected Return And Portfolio Risk As An Investment Diversification Strategy In IDX30 Companies On The Indonesia Stock Exchange In 2022 - 2025 (Markowitz Approach)
Analisis Kombinasi Expected Return Dan Risiko Portofolio Sebagai Strategi Diversifikasi Investasi Pada Perusahaan IDX30 Di BEI Tahun 2022 - 2025 (Pendekatan Markowitz)
DOI:
https://doi.org/10.21070/ups.12424Keywords:
Markowitz Model, Diversification, Expected Return, Portfolio Risk, IDX30Abstract
This study aims to analyse the combination of expected return and portfolio risk as an investment diversification strategy for companies listed in the IDX30 Index on the Indonesia Stock Exchange during 2022–2025 using the Markowitz approach. A descriptive quantitative method was employed using monthly closing stock prices obtained from the Indonesia Stock Exchange and Yahoo Finance. Purposive sampling resulted in 10 companies that consistently remained in the IDX30 Index. The analysis involved returns, expected returns, standard deviations, variances, covariances, correlations, and portfolio optimisation using Microsoft Excel Solver. The results show that the optimal portfolio comprises seven stocks: BBCA, TLKM, ASII, ICBP, INDF, ANTM, and UNTR. The portfolio generated an expected return of 0.4053% and risk of 3.222%, lower than the equally weighted portfolio risk of 4.181%. These findings indicate that the Markowitz model supports more efficient portfolio diversification.
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