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Analisis Kinerja Portofolio Optimal Menggunakan Model Markowitz pada Instrumen Saham di Bursa Efek Indonesia Finkan Nadia; Taufiq Kamil Batubara; Bintang Ramadhan Saragih; Nur Hamidah; Dicky Pratama; Tria Annisa; Dinda Aulia Sari; Muhammad Ikhsan Harahap
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 1 (2026): Januari
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i1.8626

Abstract

This study aims to analyze the performance and determine the optimal asset allocation of a stock portfolio in the Indonesia Stock Exchange (IDX) by rigorously applying the Markowitz Mean-Variance Model. This research is a quantitative study that utilizes historical return data from a selection of highly liquid blue-chip stocks over a five-year observation period. The methodology involves calculating the expected return, variance, and covariance matrices, followed by quadratic optimization to identify the most efficient portfolios, specifically the Global Minimum Variance Portfolio (GMVP) and the Tangent Portfolio. The findings reveal that significant benefits from diversification are achieved due to moderate positive correlation among the selected assets, resulting in a distinctly curved efficient frontier. The optimal portofolio, characterized by the highest Sharpe Ratio, consistently demonstrates a superior risk-adjusted return profile compared to investing in any single stock asset. This study concludes that the Markowitz Model is highly effective in structuring investment strategies in the IDX, validating the importance of covariance analysis for risk mitigation and strongly aligning with the prudent investment principles of Islamic economics (ghair gharar).
Fann al-Jinas wa Saja fi mandhumah al-faraid al-Bahiyah fi al-Qawaid al-Fiqhiyyah li Sayyid Abi Bakar al-Ahdaly al-Yamany as-Syafii (Dirasah Tahliliyah Baalaghiyah) Nur Hamidah; Halimi Zuhdy
Journal of Arabic Literature (JaLi) Vol 2, No 2 (2021): Journal of Arabic Literature (Jali)
Publisher : Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/jali.v2i2.12277

Abstract

Nadzam is mazdzumat ilmiyah which is patterned speech that contains knowledge and normative. Changing the nadzam aims to make easier for someone to understand the knowledge and information that will be delivered. Nadzam is a literature which has high artistic value, there are beautifying elements. One of the nadzam which there are elemenys that make it beautiful is nadzamal-faraid al-bahiyah fi al-Qawaid al-Fiqhiyah creation by Sayyid Abi Bakar al-Ahdali Al-Yamani As-Syafii, that is  muhassinat lafdziyah and muhassinat maknawiyah. The purpose of this research is : 1) to know the various kinds of jinas that found in the nadzam “Al-Faraid Al-Bahiyah fi Al-Qawaid Al-Fiqhiyah” creation by Sayyid Abi Bakar al-Ahdali Al-Yamani As-Syafii; and 2) to know the various kinds of poetry contained in the nadzam “Al-Faraid Al-Bahiyah fi Al-Qawaid Al-Fiqhiyah” creation by Sayyid Abi Bakar al-Ahdali Al-Yamani As-Syafii. This research is a type of qualitative descriptive research. In collecting data, researchers used  reading and writing techniques. And for data analysis technique used by researchers in this research is by reducing data, presenting data, and conclusions. The result of this reseach are: 1) the various kinds of jinas contained in the nadzam “Al-Faraid Al-Bahiyah fi Al-Qawaid Al-Fiqhiyah” creation by Sayyid Abi Bakar al-Ahdali Al-Yamani As-Syafii is just jinas ghairu tam, there are: jinas mudhari is on 15 stanzas, jinas lahiq is on 17 stanzas, jinas marduf is on 11 stanzas, jinas mukattaf is on 7 stanzas, jinas muzayyal is on 27 stanzas, jinas muharraf is on 3 stanzas, jinas maqlub ba’du is on 1 stanzas. And in the nadzam there is also mulahhaq bi al-jinas that is isytiqaq is on 41 stanzas and syibhul isytiqaq is on 2 stanzas; and 2) various kinds of sajak which are contained in the nadzam “Al-Faraid Al-Bahiyah fi Al-Qawaid Al-Fiqhiyah” creation by Sayyid Abi Bakar al-Ahdali Al-Yamani As-Syafii is saja’ murassa’ is on 5 stanzas, saja’ mutawazi is on 129 stanzas and saja’ mutharraf is on 290 stanzas.