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All Journal Al-Lisan Paedagoria : Jurnal Kajian, Penelitian dan Pengembangan Kependidikan EDUKATIF : JURNAL ILMU PENDIDIKAN JURNAL LENTERA BISNIS Ta'dib: Jurnal Pendidikan Islam Jurnal Ilmiah Edunomika (JIE) JURNAL AKUNTANSI KEUANGAN DAN MANAJEMEN ASANKA: Journal of Social Science And Education Al-Mashrof: Islamic Banking and Finance Al-Mu'awanah Al-Lisan: Jurnal Bahasa Mutanaqishah: Journal of Islamic Banking Indonesian Journal of Islamic Economics and Finance Tafahus: Jurnal Pengkajian Islam KENDALI: Economics and Social Humanities QANUN: Journal of Islamic Laws and Studies Kartika: Jurnal Studi Keislaman Jurnal Nuansa: Publikasi Ilmu Manajemen dan Ekonomi Syariah Journal of Islamic Economics and Finance International Journal of Islamic Economics (IJIE) Jurnal Inovasi Ekonomi Syariah dan Akuntansi PESHUM
Heni Verawati
Universitas Islam Negeri Raden Intan Lampung
Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Social Sciences Other

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Journal : International Journal of Islamic Economics (IJIE)

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Comparative Study of Risk and Return in Bitcoin, LQ45, and Jakarta Islamic Index Markets in Indonesia (2021-2024) Hidayat, Arif; Hanif; Heni Verawati
Jurnal Internasional Ekonomi Islam Vol 7 No 01 (2025): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v7i01.10394

Abstract

Introduction: In digital era, investments are no longer in the form of physical instruments or those we can see; there are many non-physical investment instruments, such as Cryptocurrencies and stocks. However, before we jump directly into the world of investment, we need to analyze how an investment instrument can bring our money into profit and consider the risks of investment instruments to avoid losses. Objective: This study examines the risks and returns of three investment instruments: Bitcoin, LQ45, and the Jakarta Islamic Index. Method: This study used a Descriptive quantitative approach and comparative analysis. To obtain data, we used purposeful sampling, a non-probability sampling technique. Forty-eight samples were examined using historical monthly closing price data for Bitcoin, LQ45, and the Jakarta Islamic Index from 2021 to 2024. Results: Research findings show that Bitcoin investment has the highest level of risk compared to LQ45 and Jakarta Islamic Index investments, then LQ45 investment has a moderate risk level, and Jakarta Islamic Index investment has the lowest level of risk compared to Bitcoin and LQ45 investments. In further findings, it is known that Bitcoin investment has the highest level of return compared to LQ45 and Jakarta Islamic Index investments, then LQ45 investment has a moderate level of return, and Jakarta Islamic Index investment has the lowest level of return compared to Bitcoin and LQ45 investments. Implications: Thanks to this research, investors should be able to evaluate and assess the risk and return of investing in Bitcoin, LQ45 shares, and Jakarta Islamic Index Sharia shares. Additionally, prior investors can distinguish investment portfolios based on their investment instruments' risk and return requirements.
Co-Authors AA Sudharmawan, AA Agus Kurniawan Agus Kurniawan Agus Susanti Ananda Elsa Pratiwi Arif Hidayat Asih, Salma Pitri Bela Mawarni Deti Anas Talina Devi Sela Eka Selvia Dwi Fratama, Ikhsan Ersi Sisdianto Evi Febriani Fatih Fuadi Fitriani Fitriani Fuadi, Fatih Hanif Hardianty, Virnadilla Ida Faridatul Hasanah Inka Corlita Intan Muflihah Jemi Karter Lita Aryani M. Akbar Alfahrozi Mardhiyah Hayati Maulana, Rivan Nadiya Putri Ananda Anom Pujiyanto, Di'a Purbandari, Elok Fevia Ridwansyah Ridwansyah Sa'idy Suhendar Suhendar Suhendar Suhendar Suhendar, Suhendar Suripto, Ahmad Susanti, Eka Desi Uswatun Hasanah Uswatun Hasanah Wulan, Mutiasari Nur Zahra Rahmatika Zathu Restie Utamie