1.

Tahun
1998
1999
2000
2001
2002
2003
Total
Portion

Divident Year-end Price

0
12.25
1.00
9.75
1.05
11.00
1.15
13.75
1.30
13.25
1.50
15.50

Saham A
Total Return
(1.50)
2.30
3.90
0.80
3.75
9.25

Saham B
Rate of Return
(0.12)
0.24
0.35
0.06
0.28
0.81
50%

Divident
0
2.4
2.6
2.85
3.05
3.25

Rate of Return portofolio:

(Rate of Return A * Portofolio Portion) + (Rate of Return B * Portofolio Portion)
(0,81*0,50) + (0,81*0,50)
0.81
81%

Saham B
Year-end Price
Total Return
Rate of Return
22.00
18.5
-1.10
-0.05
19.5
3.60
0.19
25.25
8.60
0.44
22.5
0.30
0.01
24.00
4.75
0.21
16.15
0.81
50%

eturn B * Portofolio Portion)

2.
Tahun
1999
2000
2001
2002
2003
Total
Rata-Rata

Rete of Return Saham A

Rate of Return Saham B
Rate of Return portofolio (kp)
(kA) (%)
(kB) (%)
(kP) (%)
(12.24)
5
-8.62
23.59
19.16
21.52
35.45
44.1
39.78
5.82
1.19
3.5
28.309
21.11
24.71
80.93
90.56
80.89
16.19
18.112
16.18
Deviasi Standard Saham A
Deviasi Standard Saham B
Deviasi Standard Saham
Portofolio

19.29
16.91
20.96

Deviasi Standard P (Book)

(kP)
Excel

Variance A

-3.62
21.375
39.775
3.505
24.7095
85.7445
17.1489

(28.43)
7.40
19.26
(10.37)
12.12

16.18

(24.80)
5.34
23.6
-12.68
8.53

Variance Kuadrat

Variance B

808.03
54.82
371.11
107.45
146.97
1,488.38
4
372.09

615.04
28.5156
556.96
160.7824
72.7609
1434.0589
4
358.514725
18.93448507 Wrong

Variance Kuadrat
-13.112
1.048
25.988
-16.922
2.998

171.92
1.10
675.38
286.35
8.99
1,143.74
4
285.94

Variance P
-20.7689
4.2261
22.6261
-13.6439
24.7095

Variance Kuadrat
431.35
17.86
511.94
186.16
610.56
1,757.86
4
439.47

3.
Probabilitas
I
0.1
0.2
0.4
0.2
0.1

Saham A
(%)
II
-25
5
15
30
45

Deviasi Standard A
Deviasi Standard B

Expecetd Return A
(%)
II
-2.5
1
6
6
4.5
15

Variance A

Variance Kuadrat

IV

V
-40
-10
0
15
30

1,600
100
225
900
2,825

17.75 %
27.00 %

Koefisien Variasi A =

Deviasi Standard A
Expected Return A

17.75
15

1.18

Koefisien Variasi B =

Deviasi Standard B
Expected Return B

27.00
17

1.59

(II * V)
(%)
VI
160
20
0
45
90
315

Saham B
(%)
VII
-40
0
16
40
66

>>> Lebih beresiko

Expected Return B
(%)
VIII
-4
0
6.4
8
6.6
17

Variance

Variance Kuadrat

IX

X
-57
-17
-1
23
49

3249
289
1
529
2401
6469

(II * X)
(%)
XI
324.9
57.8
0.4
105.8
240.1
729