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All Journal Sains Manajemen:Jurnal Manajemen UNSERA Scientific Journal of Reflection : Economic, Accounting, Management and Business JENIUS (Jurnal Ilmiah Manajemen Sumber Daya Manusia) Kontigensi: Jurnal Ilmiah Manajemen Jurnal Pajak dan Bisnis (Journal of Tax and Business) PASCIDEV: Pasundan Social Science Development West Science Islamic Studies
Ade Muslimat, Ade
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Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Social Sciences

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Journal : West Science Islamic Studies

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Analysis of the Performance of the Jakarta Islamic Index (JII) compared to the Composite Stock Price Index (CSPI) Judijanto, Loso; Muslimat, Ade; Sudarmanto, Eko; Nurhayadi, Willy
West Science Islamic Studies Vol. 3 No. 02 (2025): West Science Islamic Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsiss.v3i02.1840

Abstract

This literature review analyzes the performance of the Jakarta Islamic Index (JII) compared to the Composite Stock Price Index (CSPI) in Indonesia, focusing on key factors such as return performance, risk and volatility, market reactions to economic factors, and the role of Shariah compliance. The review highlights that while the JII generally demonstrates lower returns, it offers greater stability, lower volatility, and resilience during economic downturns due to its ethical and Shariah-compliant nature. In contrast, the CSPI, which includes a broader spectrum of sectors, tends to provide higher returns during periods of economic growth but carries higher risk due to exposure to more volatile industries. The JII’s focus on stable and ethical companies makes it an attractive option for risk-averse and socially responsible investors, while the CSPI is more suitable for those seeking higher returns with a higher risk tolerance. The findings suggest that both indices offer distinct advantages depending on investor preferences and market conditions.
Co-Authors Banjal, Teul Panda Gita Sartika Gunawan, Adriani Iryadana, Mohamad Razab Judijanto, Loso Kartomo, Thomas Nurhayadi, Willy Oktaviani, Desy Sudarmanto, Eko Tialonawarmi, Feny Tubagus Guruh Ramadhan Wahid, Hariyaty Ab Widia Astuti