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Comparative Performance Analysis of Bitcoin, LQ45 Stocks, and Antam Gold as Investment Options Zeze Zakaria Hamzah; Mujito; Herman; Wahid Akbar Basudani
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 5 (2025): JIMKES Edisi September 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i5.3827

Abstract

The advancement of technology and digitalization has broadened access to various investment instruments, driving greater participation in investment activities, especially among younger generations. This shift highlights a contrast between classical investment theory, which emphasizes rational decision-making, and real-world investor behavior often influenced by trends, emotions, and phenomena like fear of missing out. This study aims to compare the performance of Bitcoin, LQ45 index stocks, and Antam gold using recent data, including local gold prices. A comparative analysis approach is used to evaluate which investment yields the best performance. The findings, based on the Sharpe, Treynor, and Jensen methods, reveal notable performance differences. Bitcoin achieved the highest Sharpe ratio, reflecting high potential returns relative to total risk, making it attractive for high-risk-tolerant investors. Antam Gold ranked highest on the Treynor ratio, indicating its strength in generating returns relative to market risk (beta), and serving as a more stable option for conservative investors. LQ45 stocks excelled using the Jensen method, showing their ability to deliver returns above market expectations, ideal for fund managers seeking to outperform benchmarks. This research reinforces the importance of aligning investment instrument choices with individual risk profiles and financial goals.
Financial Ratios and Profit Growth: Evidence from Bank BNI During COVID-19 Gani Wiharso; Wahid Akbar Basudani; Ratna Puspita; Johan Hendri Prasetyo
Jurnal Mantik Vol. 10 No. 1 (2026): May : Manajemen, Teknologi Informatika dan Komunikasi (Mantik)
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/mantik.v10i1.7118

Abstract

This study examines the effect of financial ratios, namely Loan to Deposit Ratio LDR, Debt to Equity Ratio DER, and Return on Assets ROA, on profit growth at Bank BNI over the period 2016 to 2025, covering pre, during, and post COVID 19 phases. Prior studies largely rely on short term observations and overlook crisis periods, limiting understanding of financial ratio performance under economic disruption. This study addresses this gap by providing longitudinal evidence in a crisis context. A quantitative causal approach was applied using multiple linear regression. The results show that LDR has a negative and insignificant effect on profit growth with a coefficient of negative 15.603 and a significance value of 0.102. DER also exhibits a negative and insignificant effect with a coefficient of negative 0.594 and a significance value of 0.587, while ROA shows a positive but insignificant relationship with a coefficient of 4.820 and a significance value of 0.926. Simultaneous testing indicates that all variables do not significantly affect profit growth with an F value of 1.664 and a significance level of 0.272. The model explains 45.4 percent of the variation in profit growth, although the adjusted R square of 0.181 suggests limited explanatory power. These findings highlight the limited role of financial ratios in explaining profit growth during economic uncertainty. The study contributes by providing crisis based longitudinal evidence and implies the need to incorporate broader determinants in performance evaluation