Risk and Return Portfolio of Food and Beverages Companies in Ramadhan 2019

DOI

10.2991/miseic-19.2019.16How to use a DOI?

Keywords

Ramadan effect, risk and return portfolio, food and beverages companies.

Abstract

Ramadan Effect, one type of market anomaly, is a seasonal anomaly which shows a difference in average returns in the month of Ramadan compared to other months in one year. The phenomenon of increasing public consumption in the month of Ramadan is suspected to be a phenomenon that causes returns in Ramadan, especially in food and beverages companies different from the months outside of Ramadan. Ramadan in Indonesia has distinctive nature compared to Ramadan in other countries, namely the activity of giving each other food, so that product demand of food and beverages companies also increases. This study used the calculation of risk and returns portfolio to determine the level of risk and return portfolio of food and beverages companies during the month of Ramadan. Purposive sampling was chosen with the criteria of 3 companies that most actively moved their shares in food and beverages sector. Data analysis was explained using financial Mathematics. Based on the calculation, it was shown that PT. Indofood Sukses Makmur, Tbk (INDF) had -1.67% of return and stocks risk at 2.67%, PT. Ultrajaya Milk Industry and Trading Company, Tbk (ULTJ) had -0.19% return and 0.33% stocks risk, while PT. Siantar Top, Tbk (STTP) had 4.70% return and stocks risk at 8.31%. Calculating using portfolio calculation to minimize the risk was proven to be successful method. It showed that the individual stocks risk from the three companies could be reduced to 2.91% with positive return at 0.95%.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Achmad Kautsar
AU  - Nadia Asandimitra
AU  - RA Sista Paramita
AU  - Musdholifah Musdholifah
AU  - Ulil Hartono
AU  - Trias Madanika Kusumaningrum
AU  - Yuyum Isbanah
PY  - 2019/12
DA  - 2019/12
TI  - Risk and Return Portfolio of Food and Beverages Companies in Ramadhan 2019
BT  - Proceedings of the Mathematics, Informatics, Science, and Education International Conference (MISEIC 2019)
PB  - Atlantis Press
SP  - 39
EP  - 42
SN  - 2352-538X
UR  - https://doi.org/10.2991/miseic-19.2019.16
DO  - 10.2991/miseic-19.2019.16
ID  - Kautsar2019/12
ER  -