Risk-Free Rate 8.572% 2-Nov-18 0.

01009973

BBTN INCO
Date Adj Close Return Return-Rf Adj Close Return Return-Rf
10/31/2013 869.79 2296.23
11/30/2013 780.12 -0.10309 -0.18881 2535.42 0.10417 0.01845
12/31/2013 807.02 0.03448 -0.05124 2233.39 -0.11913 -0.20485
1/31/2014 968.43 0.20000 0.11428 2315.75 0.03688 -0.04884
2/28/2014 1152.25 0.18981 0.10410 2732.39 0.17992 0.09420
3/31/2014 1071.55 -0.07003 -0.15575 3439.71 0.25887 0.17315
4/30/2014 1011.25 -0.05628 -0.14200 3793.36 0.10282 0.01710
5/31/2014 964.86 -0.04587 -0.13159 3444.55 -0.09195 -0.17767
6/30/2014 1001.97 0.03846 -0.04726 3899.95 0.13221 0.04649
7/31/2014 1034.44 0.03241 -0.05331 4050.13 0.03851 -0.04721
8/31/2014 1085.47 0.04933 -0.03639 3633.49 -0.10287 -0.18859
9/30/2014 1039.08 -0.04274 -0.12845 3672.25 0.01067 -0.07505
10/31/2014 1048.36 0.00893 -0.07679 3861.19 0.05145 -0.03427
11/30/2014 1117.94 0.06637 -0.01935 3512.38 -0.09034 -0.17606
12/31/2014 923.11 -0.17427 -0.25999 3450.00 -0.01776 -0.10348
1/31/2015 992.70 0.07538 -0.01034 3525.00 0.02174 -0.06398
2/28/2015 1164.33 0.17290 0.08718 3235.00 -0.08227 -0.16799
3/31/2015 1034.44 -0.11155 -0.19727 2795.00 -0.13601 -0.22173
4/30/2015 1137.07 0.09921 0.01349 3120.00 0.11628 0.03056
5/31/2015 1122.92 -0.01245 -0.09817 2710.00 -0.13141 -0.21713
6/30/2015 1104.04 -0.01681 -0.10253 1960.00 -0.27675 -0.36247
7/31/2015 1004.96 -0.08974 -0.17546 1545.00 -0.21173 -0.29745
8/31/2015 938.91 -0.06573 -0.15145 2185.00 0.41424 0.32852
9/30/2015 1118.20 0.19095 0.10524 2235.00 0.02288 -0.06284
10/31/2015 1198.41 0.07173 -0.01399 1645.00 -0.26398 -0.34970
11/30/2015 1222.00 0.01969 -0.06603 1635.00 -0.00608 -0.09180
12/31/2015 1288.05 0.05405 -0.03166 1445.00 -0.11621 -0.20193
1/31/2016 1566.42 0.21612 0.13040 1535.00 0.06228 -0.02344
2/29/2016 1646.63 0.05120 -0.03451 1750.00 0.14007 0.05435
3/31/2016 1660.79 0.00860 -0.07712 1860.00 0.06286 -0.02286
4/30/2016 1643.07 -0.01066 -0.09638 1655.00 -0.11022 -0.19593
5/31/2016 1652.71 0.00587 -0.07985 1820.00 0.09970 0.01398
6/30/2016 1903.27 0.15160 0.06588 2560.00 0.40659 0.32087
7/31/2016 1937.00 0.01772 -0.06800 2640.00 0.03125 -0.05447
8/31/2016 1850.26 -0.04478 -0.13050 2950.00 0.11742 0.03171
9/30/2016 1840.63 -0.00521 -0.09093 2720.00 -0.07797 -0.16369
10/31/2016 1590.07 -0.13613 -0.22184 3380.00 0.24265 0.15693
11/30/2016 1676.80 0.05455 -0.03117 2820.00 -0.16568 -0.25140
12/31/2016 1835.81 0.09483 0.00911 2370.00 -0.15957 -0.24529
1/31/2017 2062.27 0.12336 0.03764 2550.00 0.07595 -0.00977
2/28/2017 2187.55 0.06075 -0.02497 2390.00 -0.06275 -0.14846
 3/31/2017 2264.74 0.03529 -0.05043 2220.00 -0.07113 -0.15685
4/30/2017 2461.68 0.08696 0.00124 1905.00 -0.14189 -0.22761
5/31/2017 2560.15 0.04000 -0.04572 1850.00 -0.02887 -0.11459
6/30/2017 2560.15 0.00000 -0.08572 2420.00 0.30811 0.22239
7/31/2017 2963.86 0.15769 0.07197 2970.00 0.22727 0.14155
8/31/2017 3101.71 0.04651 -0.03921 2590.00 -0.12795 -0.21367
9/30/2017 2717.69 -0.12381 -0.20953 2940.00 0.13514 0.04942
10/31/2017 3150.95 0.15942 0.07370 3040.00 0.03401 -0.05171
11/30/2017 3515.28 0.11563 0.02991 2890.00 -0.04934 -0.13506
12/31/2017 3603.90 0.02521 -0.06051 3750.00 0.29758 0.21186
1/31/2018 3682.67 0.02186 -0.06386 3390.00 -0.09600 -0.18172
2/28/2018 3741.75 0.01604 -0.06968 2790.00 -0.17699 -0.26271
3/31/2018 3062.33 -0.18158 -0.26730 3160.00 0.13262 0.04690
4/30/2018 3050.00 -0.00403 -0.08974 3860.00 0.22152 0.13580
5/31/2018 2450.00 -0.19672 -0.28244 4040.00 0.04663 -0.03909
6/30/2018 2360.00 -0.03673 -0.12245 4370.00 0.08168 -0.00404
7/31/2018 2750.00 0.16525 0.07954 3800.00 -0.13043 -0.21615
8/31/2018 2630.00 -0.04364 -0.12936 3710.00 -0.02368 -0.10940
9/30/2018 2120.00 -0.19392 -0.27964 2920.00 -0.21294 -0.29866
10/31/2018 2350.00 0.10849 0.02277 3240.00 0.10959 0.02387

Average 2.17% 1.74%

Monthly Return

Standard 0.100497411 0.156679555

Deviation

Standard
Deviation per 0.348133244 0.542753898
Annum

Beta 1.47 1.03

Expected 20.63% 17.02%

Return

Excess Return 12.0568% 8.4480%

Correlations BBTN INCO UNVR TLKM TPIA BRPT

BBTN 1.00000 -0.00263 0.33545 0.08453 -0.04343 0.29527
INCO 1.00000 -0.10913 -0.12315 0.12735 0.08691
UNVR 1.00000 0.12497 -0.02964 0.30468
TLKM 1.00000 -0.02733 0.02797
TPIA 1.00000 0.36717
BRPT 1.00000
ACES
ICBP
BBCA

Covariances BBTN INCO UNVR TLKM TPIA BRPT

BBTN 0.121197 -0.000496 0.022254 0.00656 -0.00764 0.07213
INCO 0.294582 -0.011286 -0.01490 0.03491 0.03310
UNVR 0.036311 0.00531 -0.00285 0.04074
TLKM 0.04972 -0.00308 0.00438
TPIA 0.25515 0.13015
BRPT 0.49240
ACES
ICBP
BBCA
0.024548483

UNVR TLKM TPIA

Adj Close Return Return-Rf Adj Close Return Return-Rf Adj Close Return
24004.31 1785.45 441.23
23462.86 -0.02256 -0.10828 1764.92 -0.01149 -0.09721 437.55 -0.00833
26082.22 0.11164 0.02592 1867.54 0.05814 -0.02758 426.52 -0.02521
26105.06 0.00088 -0.08484 1908.58 0.02198 -0.06374 372.84 -0.12586
26721.71 0.02362 -0.06210 1818.28 -0.04731 -0.13303 344.16 -0.07692
26721.71 0.00000 -0.08572 1859.33 0.02257 -0.06315 367.69 0.06838
26607.52 -0.00427 -0.08999 2292.22 0.23282 0.14710 388.28 0.05600
26744.55 0.00515 -0.08057 2194.30 -0.04272 -0.12844 383.87 -0.01136
28446.20 0.06363 -0.02209 2358.98 0.07505 -0.01067 404.44 0.05358
28700.60 0.00894 -0.07678 2372.34 0.00566 -0.08006 486.07 0.20185
29417.54 0.02498 -0.06074 2594.88 0.09381 0.00809 479.33 -0.01387
28122.43 -0.04403 -0.12974 2448.00 -0.05660 -0.14232 479.33 0.00000
29417.54 0.04605 -0.03967 2514.77 0.02727 -0.05845 449.38 -0.06250
29880.08 0.01572 -0.07000 2550.37 0.01416 -0.07156 449.38 0.00000
33500.89 0.12118 0.03546 2519.22 -0.01222 -0.09794 449.38 0.00000
33664.54 0.00488 -0.08083 2612.69 0.03710 -0.04862 453.87 0.01000
37077.75 0.10139 0.01567 2572.63 -0.01533 -0.10105 449.38 -0.00990
39836.37 0.07440 -0.01132 2327.83 -0.09516 -0.18087 471.84 0.05000
40490.96 0.01643 -0.06929 2599.27 0.11661 0.03089 525.77 0.11429
36937.48 -0.08776 -0.17348 2676.93 0.02988 -0.05584 501.80 -0.04558
37795.20 0.02322 -0.06250 2686.07 0.00341 -0.08231 539.27 0.07466
37535.35 -0.00688 -0.09259 2622.11 -0.02381 -0.10953 537.73 -0.00286
35905.43 -0.04342 -0.12914 2416.55 -0.07840 -0.16412 558.53 0.03868
34960.56 -0.02632 -0.11203 2448.52 0.01323 -0.07249 527.71 -0.05517
34724.34 -0.00676 -0.09248 2676.93 0.09328 0.00756 523.86 -0.00730
34960.56 0.00680 -0.07892 2836.82 0.05973 -0.02599 530.79 0.01324
34997.11 0.00105 -0.08467 3051.52 0.07568 -0.01003 539.27 0.01597
42459.04 0.21322 0.12750 2969.29 -0.02695 -0.11267 539.27 0.00000
40933.27 -0.03593 -0.12165 3037.82 0.02308 -0.06264 546.97 0.01429
40599.52 -0.00815 -0.09387 3243.38 0.06767 -0.01805 724.16 0.32394
41100.16 0.01233 -0.07339 3380.43 0.04225 -0.04347 693.34 -0.04255
42983.52 0.04582 -0.03990 3718.86 0.10011 0.01440 708.75 0.02222
43379.61 0.00921 -0.07650 3952.45 0.06281 -0.02290 987.45 0.39322
43957.36 0.01332 -0.07240 3933.77 -0.00473 -0.09045 1764.47 0.78689
42898.15 -0.02410 -0.10982 4027.21 0.02375 -0.06197 2233.92 0.26606
42825.93 -0.00168 -0.08740 3943.11 -0.02088 -0.10660 3077.30 0.37754
39022.39 -0.08881 -0.17453 3531.98 -0.10427 -0.18998 3443.64 0.11905
37361.35 -0.04257 -0.12829 3718.86 0.05291 -0.03281 3560.01 0.03379
40027.85 0.07137 -0.01435 3634.04 -0.02281 -0.10853 3822.92 0.07385
40975.11 0.02366 -0.06205 3615.26 -0.00517 -0.09089 4064.28 0.06313
42092.39 0.02727 -0.05845 3878.19 0.07273 -0.01299 4133.23 0.01697
 43233.96 0.02712 -0.05860 4103.55 0.05811 -0.02761 4572.85 0.10636
44861.30 0.03764 -0.04808 4084.77 -0.00458 -0.09030 4551.30 -0.00471
47411.62 0.05685 -0.02887 4360.46 0.06749 -0.01823 4928.16 0.08280
47557.36 0.00307 -0.08265 4524.46 0.03761 -0.04811 5121.88 0.03931
49582.10 0.04257 -0.04314 4524.46 0.00000 -0.08572 4072.08 -0.20496
48037.26 -0.03116 -0.11688 4514.81 -0.00213 -0.08785 4587.11 0.12648
48650.29 0.01276 -0.07296 3887.75 -0.13889 -0.22461 5467.95 0.19203
48356.03 -0.00605 -0.09177 4003.52 0.02978 -0.05594 5438.25 -0.00543
55280.93 0.14321 0.05749 4283.28 0.06988 -0.01584 5959.73 0.09589
53797.54 -0.02683 -0.11255 3849.17 -0.10135 -0.18707 6481.20 0.08750
53303.08 -0.00919 -0.09491 3858.81 0.00251 -0.08321 6108.72 -0.05747
48976.54 -0.08117 -0.16689 3472.93 -0.10000 -0.18572 6183.22 0.01220
45836.70 -0.06411 -0.14983 3694.81 0.06389 -0.02183 6009.39 -0.02811
45095.00 -0.01618 -0.10190 3395.76 -0.08094 -0.16666 5810.73 -0.03306
45589.46 0.01096 -0.07475 3750.00 0.10432 0.01860 5600.00 -0.03627
43250.00 -0.05132 -0.13703 3570.00 -0.04800 -0.13372 5000.00 -0.10714
43850.00 0.01387 -0.07185 3490.00 -0.02241 -0.10813 5500.00 0.10000
47025.00 0.07241 -0.01331 3640.00 0.04298 -0.04274 4920.00 -0.10545
43225.00 -0.08081 -0.16653 3850.00 0.05769 -0.02803 4810.00 -0.02236
42725.00 -0.01157 -0.09729 3940.00 0.02338 -0.06234 4770.00 -0.00832

1.11% 1.53% 4.88%

0.055008566 0.064367113 0.145816369

0.190555261 0.222974222 0.505122719

8.57% 8.57% 8.57%

0.0000% 0.0000% 0.0000%

ACES ICBP BBCA

0.27823 -0.04587 0.43019
0.03071 -0.30585 0.05574
0.11374 0.15006 0.21829
0.31507 0.12404 0.17808
0.00091 0.02190 0.08902
 0.15269 0.00908 0.03997
1.00000 0.06695 0.20710
1.00000 0.11671
1.00000

ACES ICBP BBCA

0.03275 -0.00894 0.02427
0.00564 -0.09289 0.00490
0.00733 0.01600 0.00674
0.02376 0.01548 0.00643
0.00016 0.00619 0.00729
0.03623 0.00356 0.00454
0.11434 0.01267 0.01135
0.31310 0.01058
0.02625
TPIA BRPT ACES ICBP
Return-Rf Adj Close Return Return-Rf Adj Close Return Return-Rf Adj Close
217.55 634.87 4265.39
-0.09405 202.71 -0.06818 -0.15390 542.86 -0.14493 -0.23065 4350.69
-0.11093 182.44 -0.10000 -0.18572 699.28 0.28814 0.20242 4691.93
-0.21158 176.51 -0.03252 -0.11824 736.09 0.05263 -0.03309 4766.57
-0.16264 168.10 -0.04762 -0.13334 690.08 -0.06250 -0.14822 4308.04
-0.01734 153.77 -0.08529 -0.17101 685.48 -0.00667 -0.09239 4265.39
-0.02972 149.32 -0.02894 -0.11466 828.10 0.20805 0.12233 4350.69
-0.09708 146.35 -0.01987 -0.10559 809.69 -0.02222 -0.10794 4265.39
-0.03214 140.91 -0.03716 -0.12288 857.19 0.05865 -0.02707 4457.33
0.11613 140.91 0.00000 -0.08572 866.45 0.01081 -0.07491 4649.36
-0.09959 134.98 -0.04211 -0.12782 820.12 -0.05348 -0.13919 5025.73
-0.08572 132.51 -0.01831 -0.10403 750.62 -0.08475 -0.17046 4892.90
-0.14822 147.34 0.11194 0.02622 745.98 -0.00617 -0.09189 4981.46
-0.08572 149.81 0.01678 -0.06894 727.45 -0.02484 -0.11056 5800.63
-0.08572 151.79 0.01320 -0.07252 685.75 -0.05732 -0.14304 6420.54
-0.07572 145.85 -0.03909 -0.12481 783.05 0.14189 0.05617 6331.98
-0.09562 138.44 -0.05085 -0.13657 681.11 -0.13018 -0.21590 6498.03
-0.03572 130.03 -0.06071 -0.14643 597.71 -0.12245 -0.20817 5844.91
0.02857 136.96 0.05323 -0.03249 639.41 0.06977 -0.01595 6243.42
-0.13130 119.65 -0.12635 -0.21207 612.12 -0.04269 -0.12841 5708.20
-0.01106 109.76 -0.08264 -0.16836 607.37 -0.00775 -0.09347 5628.13
-0.08858 80.59 -0.26577 -0.35148 564.66 -0.07031 -0.15603 11599.44
-0.04704 62.30 -0.22699 -0.31271 479.25 -0.15126 -0.23698 5673.89
-0.14089 65.26 0.04762 -0.03810 635.84 0.32673 0.24101 6039.94
-0.09302 62.79 -0.03788 -0.12360 726.00 0.14179 0.05607 5776.84
-0.07248 64.27 0.02362 -0.06210 782.94 0.07843 -0.00729 6165.77
-0.06975 104.82 0.63077 0.54505 759.21 -0.03030 -0.11602 6611.91
-0.08572 194.80 0.85849 0.77277 868.35 0.14375 0.05803 7206.75
-0.07143 232.38 0.19289 0.10717 849.37 -0.02186 -0.10758 6955.09
0.23822 208.65 -0.10213 -0.18785 877.84 0.03352 -0.05220 6989.40
-0.12827 242.27 0.16114 0.07542 787.68 -0.10270 -0.18842 7412.66
-0.06350 239.30 -0.01224 -0.09796 893.04 0.13375 0.04803 7881.67
0.30751 318.90 0.33264 0.24693 936.48 0.04865 -0.03707 8125.05
0.70117 531.50 0.66667 0.58095 965.45 0.03093 -0.05479 9424.12
0.18034 482.06 -0.09302 -0.17874 844.76 -0.12500 -0.21072 8951.73
0.29182 702.08 0.45641 0.37069 825.46 -0.02286 -0.10858 8880.87
0.03333 776.24 0.10563 0.01991 835.11 0.01170 -0.07402 8172.29
-0.05192 724.33 -0.06688 -0.15260 806.15 -0.03468 -0.12040 8101.43
-0.01187 892.43 0.23208 0.14636 719.26 -0.10778 -0.19350 7936.10
-0.02258 1097.62 0.22992 0.14420 743.39 0.03356 -0.05216 7865.24
-0.06875 1463.49 0.33333 0.24761 796.49 0.07143 -0.01429 7699.91
 0.02064 1557.43 0.06419 -0.02153 902.69 0.13333 0.04761 8290.39
-0.09043 1596.98 0.02540 -0.06032 1018.54 0.12834 0.04262 8219.53
-0.00292 1448.66 -0.09288 -0.17860 1023.37 0.00474 -0.08098 8314.01
-0.04641 1646.43 0.13652 0.05080 1089.50 0.06462 -0.02110 8036.19
-0.29068 1952.97 0.18619 0.10047 1069.87 -0.01802 -0.10374 8397.10
0.04076 1972.75 0.01013 -0.07559 1192.56 0.11468 0.02896 8397.10
0.10631 1997.47 0.01253 -0.07319 1231.82 0.03292 -0.05280 8469.28
-0.09115 2244.68 0.12376 0.03804 1222.01 -0.00797 -0.09369 8132.43
0.01017 2234.79 -0.00441 -0.09012 1133.67 -0.07229 -0.15801 8565.52
0.00178 2610.55 0.16814 0.08242 1325.07 0.16883 0.08311 8397.10
-0.14319 2590.77 -0.00758 -0.09329 1305.44 -0.01481 -0.10053 8637.70
-0.07352 2284.23 -0.11832 -0.20404 1305.44 0.00000 -0.08572 7964.01
-0.11383 2442.45 0.06926 -0.01645 1275.99 -0.02256 -0.10828 8348.98
-0.11878 2096.35 -0.14170 -0.22742 1226.91 -0.03846 -0.12418 8373.04
-0.12199 1957.91 -0.06604 -0.15176 1270.00 0.03512 -0.05060 8517.40
-0.19286 1815.00 -0.07299 -0.15871 1310.00 0.03150 -0.05422 8725.00
0.01428 1715.00 -0.05510 -0.14082 1360.00 0.03817 -0.04755 8675.00
-0.19117 1840.00 0.07289 -0.01283 1440.00 0.05882 -0.02690 8825.00
-0.10808 1875.00 0.01902 -0.06670 1370.00 -0.04861 -0.13433 8925.00
-0.09404 1850.00 -0.01333 -0.09905 1395.00 0.01825 -0.06747 8925.00

5.23% 1.76%

0.202566892 0.097614673

0.701712297 0.338147145

8.57% 8.57%

0.0000% 0.0000%
 ICBP BBCA Market
Return Return-Rf Adj Close Return Return-Rf Adj Close Return Return-Rf
9110.00 4256.31
0.02000 -0.06572 9104.82 -0.00057 -0.08629 4274.05 0.00417 -0.08155
0.07843 -0.00729 9413.06 0.03385 -0.05186 4418.63 0.03383 -0.05189
0.01591 -0.06981 9697.58 0.03023 -0.05549 4620.08 0.04559 -0.04013
-0.09620 -0.18192 10053.24 0.03667 -0.04904 4768.14 0.03205 -0.05367
-0.00990 -0.09562 10432.61 0.03774 -0.04798 4840.00 0.01507 -0.07065
0.02000 -0.06572 10289.37 -0.01373 -0.09945 4893.76 0.01111 -0.07461
-0.01961 -0.10533 10504.23 0.02088 -0.06484 4878.44 -0.00313 -0.08885
0.04500 -0.04072 11077.19 0.05455 -0.03117 5088.65 0.04309 -0.04263
0.04308 -0.04264 10695.21 -0.03448 -0.12020 5136.71 0.00944 -0.07627
0.08095 -0.00477 12485.71 0.16741 0.08169 5137.43 0.00014 -0.08558
-0.02643 -0.11215 12461.84 -0.00191 -0.08763 5089.40 -0.00935 -0.09507
0.01810 -0.06762 12509.58 0.00383 -0.08189 5149.74 0.01186 -0.07386
0.16444 0.07873 12533.45 0.00191 -0.08381 5226.79 0.01496 -0.07076
0.10687 0.02115 12820.57 0.02291 -0.06281 5289.25 0.01195 -0.07377
-0.01379 -0.09951 13515.51 0.05421 -0.03151 5450.13 0.03042 -0.05530
0.02622 -0.05950 14210.46 0.05142 -0.03430 5518.51 0.01255 -0.07317
-0.10051 -0.18623 12916.42 -0.09106 -0.17678 5086.27 -0.07832 -0.16404
0.06818 -0.01754 13629.12 0.05518 -0.03054 5216.22 0.02555 -0.06017
-0.08573 -0.17144 13026.06 -0.04425 -0.12997 4910.51 -0.05861 -0.14433
-0.01403 -0.09975 12640.10 -0.02963 -0.11535 4802.39 -0.02202 -0.10774
1.06098 0.97526 12447.13 -0.01527 -0.10099 4509.47 -0.06099 -0.14671
-0.51085 -0.59657 11844.07 -0.04845 -0.13417 4223.78 -0.06335 -0.14907
0.06452 -0.02120 12447.13 0.05092 -0.03480 4455.05 0.05475 -0.03097
-0.04356 -0.12928 11940.56 -0.04070 -0.12642 4446.33 -0.00196 -0.08768
0.06733 -0.01839 12887.71 0.07932 -0.00640 4592.87 0.03296 -0.05276
0.07236 -0.01336 12693.91 -0.01504 -0.10076 4615.03 0.00482 -0.08090
0.08997 0.00425 13057.29 0.02863 -0.05709 4770.81 0.03376 -0.05196
-0.03492 -0.12064 12887.71 -0.01299 -0.09871 4845.23 0.01560 -0.07012
0.00493 -0.08078 12645.46 -0.01880 -0.10452 4838.44 -0.00140 -0.08712
0.06056 -0.02516 12597.01 -0.00383 -0.08955 4796.73 -0.00862 -0.09434
0.06327 -0.02245 12911.94 0.02500 -0.06072 5016.50 0.04582 -0.03990
0.03088 -0.05484 14002.06 0.08443 -0.00129 5215.84 0.03974 -0.04598
0.15988 0.07416 14583.46 0.04152 -0.04420 5385.92 0.03261 -0.05311
-0.05013 -0.13584 15213.31 0.04319 -0.04253 5364.65 -0.00395 -0.08967
-0.00792 -0.09363 15043.74 -0.01115 -0.09687 5422.38 0.01076 -0.07496
-0.07979 -0.16551 13856.71 -0.07891 -0.16462 5148.91 -0.05043 -0.13615
-0.00867 -0.09439 15019.51 0.08392 -0.00180 5296.71 0.02871 -0.05701
-0.02041 -0.10613 14898.64 -0.00805 -0.09377 5294.10 -0.00049 -0.08621
-0.00893 -0.09465 15044.71 0.00980 -0.07592 5386.69 0.01749 -0.06823
-0.02102 -0.10674 16115.85 0.07120 -0.01452 5568.11 0.03368 -0.05204
 0.07669 -0.00903 17284.38 0.07251 -0.01321 5685.30 0.02105 -0.06467
-0.00855 -0.09427 16956.43 -0.01897 -0.10469 5738.15 0.00930 -0.07642
0.01149 -0.07422 17945.14 0.05831 -0.02741 5829.71 0.01596 -0.06976
-0.03342 -0.11913 18488.94 0.03030 -0.05542 5840.94 0.00193 -0.08379
0.04491 -0.04081 18736.11 0.01337 -0.07235 5864.06 0.00396 -0.08176
0.00000 -0.08572 20070.88 0.07124 -0.01448 5900.85 0.00627 -0.07944
0.00860 -0.07712 20664.10 0.02956 -0.05616 6005.78 0.01778 -0.06794
-0.03977 -0.12549 20120.31 -0.02632 -0.11203 5952.14 -0.00893 -0.09465
0.05325 -0.03246 21734.45 0.08022 -0.00549 6355.65 0.06779 -0.01793
-0.01966 -0.10538 22553.21 0.03767 -0.04805 6605.63 0.03933 -0.04639
0.02865 -0.05707 22999.81 0.01980 -0.06592 6597.22 -0.00127 -0.08699
-0.07799 -0.16371 23123.87 0.00539 -0.08033 6188.99 -0.06188 -0.14760
0.04834 -0.03738 21932.94 -0.05150 -0.13722 5994.60 -0.03141 -0.11713
0.00288 -0.08284 22700.00 0.03497 -0.05075 5983.59 -0.00184 -0.08756
0.01724 -0.06848 21475.00 -0.05396 -0.13968 5799.24 -0.03081 -0.11653
0.02437 -0.06135 23275.00 0.08382 -0.00190 5936.44 0.02366 -0.06206
-0.00573 -0.09145 24800.00 0.06552 -0.02020 6018.46 0.01382 -0.07190
0.01729 -0.06843 24150.00 -0.02621 -0.11193 5976.55 -0.00696 -0.09268
0.01133 -0.07439 23650.00 -0.02070 -0.10642 5831.65 -0.02425 -0.10996
0.00000 -0.08572 24000.00 0.01480 -0.07092 5835.92 0.00073 -0.08499

2.28% 1.73% 0.57%

0.161530072 0.046772054 0.030395508

0.559556585 0.162023146 0.105293127

8.57% 8.57% 8.57%

0.0000% 0.0000% 0.0000%

 BBTN INCO Securities Price
Average Monthly Return 2.17% 1.74% BBTN 2,580
Standard Deviation 0.10 0.16 INCO 3,280
Variance 0.01 0.02 Gross Amount
Beta 1.47 1.03 Brokerage Fee
Expected Return 20.63% 17.02% VAT Brokerage Fee
JSX Levy
KPEI
Total Charge
Pay to Kresna (IDR)
Total Unrealized Loss (IDR)

Portfolio Performance vs IHSG

0.1

0.05

0
17-Sep 27-Sep 7-Oct 17-Oct 27-Oct

Return
-0.05

-0.1

-0.15

-0.2

Date
 Buy Securities Price Sell
258,000 BBTN 2,400 240,000
328,000 INCO 3,280 328,000 Date Portfolio Return
586,000 Gross Amount 568,000 9/17/2018
730 Brokerage Fee 1,250 9/18/2018 0.0051430098
73 VAT Brokerage Fee 71 9/19/2018 0.0084680429
193 JSX Levy 187 9/20/2018 0.0329395563
59 KPEI 57 9/21/2018 0.0349887674
1,055 Total Charge 1,565 9/24/2018 -0.0174296285
587,055 Pay to Kresna (IDR) 569,565 9/25/2018 -0.0014624241
Total Unrealized Loss (IDR) (17,490) 9/26/2018 -0.0048090921
9/27/2018 0.0248289717
9/28/2018 -0.0018246828
olio Performance vs IHSG Performance 10/1/2018 -0.0085550402
10/2/2018 -0.0346126275
10/3/2018 0.000597764
10/4/2018 -0.0315010104
10/5/2018 0.0093558621
10/8/2018 -0.0107757256
7-Oct 17-Oct 27-Oct 6-Nov 16-Nov 10/9/2018 -0.0099869031
Portfol i o Return 10/10/2018 0.021002321
JKSE Return
10/11/2018 -0.0433939108
10/12/2018 0.0009670375
10/15/2018 -0.0111686256
10/16/2018 -0.0049937965
10/17/2018 0.014051443
10/18/2018 -0.0103977039
10/19/2018 -0.0109437233
Date
10/22/2018 -0.0021103447
10/23/2018 -0.0181523019
10/24/2018 -0.0400148615
10/25/2018 0.0146434252
10/26/2018 -0.0299637406
10/29/2018 -0.0435449578
10/30/2018 -0.0011334522
10/31/2018 0.021696554
11/1/2018 0.0504540765
11/2/2018 0.053099558
11/5/2018 -0.0177569433
11/6/2018 0.0018855405
11/7/2018 0.0162495365
11/8/2018 0.0192935647
11/9/2018 -0.0094011907
11/12/2018 -0.0336007321
11/13/2018 0.0039486636
11/14/2018 -0.0067169809
11/15/2018 0.00086194
11/16/2018 0.0413737518
 JKSE Return
0 0
0.005143 -0.0021427899 -0.00214
0.013611 0.010578632 0.008436
0.046551 0.0097704484 0.018206
0.081539 0.0044542096 0.022661
0.06411 -0.0127576314 0.009903
0.062647 -0.0013475737 0.008555
0.057838 -0.0001749863 0.00838
0.082667 0.0094802466 0.017861
0.080843 0.0079520529 0.025813
0.072287 -0.0053605926 0.020452
0.037675 -0.0116719849 0.00878
0.038273 -0.0013424316 0.007438
0.006772 -0.0191186609 -0.01168
0.016127 -0.0042971673 -0.01598
0.005352 0.0050706037 -0.01091
-0.00464 0.0061805387 -0.00473
0.016367 0.0041107037 -0.00062
-0.02703 -0.0204539255 -0.02107
-0.02606 0.0093668537 -0.0117
-0.03723 -0.0050914463 -0.01679
-0.04222 0.0127622433 -0.00403
-0.02817 0.0116207808 0.007588
-0.03857 -0.0039915033 0.003597
-0.04951 -0.001361207 0.002235
-0.05162 0.0005384684 0.002774
-0.06977 -0.0073110402 -0.00454
-0.10979 -0.0153773347 -0.01991
-0.09515 0.0079460179 -0.01197
-0.12511 0.0051917535 -0.00678
-0.16865 -0.005253947 -0.01203
-0.16979 0.0059761161 -0.00605
-0.14809 0.0073231064 0.001269
-0.09764 0.0007319468 0.002
-0.04454 0.0119863128 0.013987
-0.0623 0.0024185999 0.016405
-0.06041 0.0005632878 0.016969
-0.04416 0.0026898703 0.019659
-0.02487 0.006196357 0.025855
-0.03427 -0.0173243198 0.008531
-0.06787 -0.0166682875 -0.00814
-0.06392 0.0100145101 0.001877
-0.07064 0.0039500191 0.005827
-0.06977 0.016496503 0.022323
-0.0284 0.0094609415 0.031784
 Weight 0.4402730375 0.5597269625 1
BBTN INCO JKSE
Date Portfolio Return
Adj Close Return Adj Close Return Adj Close Return
9/17/2018 2590 3250 5824.257
9/18/2018 2590 0 3280 0.009188 0.0051430098 5811.79 -0.00214
9/19/2018 2590 0 3330 0.015129 0.0084680429 5873.597 0.010579
9/20/2018 2620 0.011516 3500 0.049791 0.0329395563 5931.266 0.00977
9/21/2018 2680 0.022642 3660 0.0447 0.0349887674 5957.744 0.004454
9/24/2018 2640 -0.01504 3590 -0.01931 -0.0174296285 5882.22 -0.01276
9/25/2018 2650 0.003781 3570 -0.00559 -0.0014624241 5874.299 -0.00135
9/26/2018 2640 -0.00378 3550 -0.00562 -0.0048090921 5873.271 -0.00017
9/27/2018 2650 0.003781 3700 0.041385 0.0248289717 5929.216 0.00948
9/28/2018 2630 -0.00758 3710 0.002699 -0.0018246828 5976.553 0.007952
10/1/2018 2680 0.018833 3600 -0.0301 -0.0085550402 5944.601 -0.00536
10/2/2018 2540 -0.05365 3530 -0.01964 -0.0346126275 5875.619 -0.01167
10/3/2018 2590 0.019494 3480 -0.01427 0.000597764 5867.737 -0.00134
10/4/2018 2420 -0.06789 3470 -0.00288 -0.0315010104 5756.619 -0.01912
10/5/2018 2410 -0.00414 3540 0.019972 0.0093558621 5731.935 -0.0043
10/8/2018 2430 0.008265 3450 -0.02575 -0.0107757256 5761.073 0.005071
10/9/2018 2420 -0.00412 3400 -0.0146 -0.0099869031 5796.79 0.006181
10/10/2018 2420 0 3530 0.037522 0.021002321 5820.668 0.004111
10/11/2018 2300 -0.05086 3400 -0.03752 -0.0433939108 5702.822 -0.02045
10/12/2018 2340 0.017242 3360 -0.01183 0.0009670375 5756.49 0.009367
10/15/2018 2380 0.01695 3250 -0.03329 -0.0111686256 5727.256 -0.00509
10/16/2018 2400 0.008368 3200 -0.0155 -0.0049937965 5800.817 0.012762
10/17/2018 2420 0.008299 3260 0.018576 0.014051443 5868.62 0.011621
10/18/2018 2420 0 3200 -0.01858 -0.0103977039 5845.242 -0.00399
10/19/2018 2370 -0.02088 3190 -0.00313 -0.0109437233 5837.291 -0.00136
10/22/2018 2340 -0.01274 3210 0.00625 -0.0021103447 5840.435 0.000538
10/23/2018 2300 -0.01724 3150 -0.01887 -0.0181523019 5797.891 -0.00731
10/24/2018 2170 -0.05818 3070 -0.02572 -0.0400148615 5709.417 -0.01538
10/25/2018 2180 0.004598 3140 0.022545 0.0146434252 5754.965 0.007946
10/26/2018 2140 -0.01852 3020 -0.03897 -0.0299637406 5784.921 0.005192
10/29/2018 2050 -0.04297 2890 -0.044 -0.0435449578 5754.607 -0.00525
10/30/2018 2100 0.024098 2830 -0.02098 -0.0011334522 5789.1 0.005976
10/31/2018 2120 0.009479 2920 0.031307 0.021696554 5831.65 0.007323
11/1/2018 2240 0.05506 3060 0.046831 0.0504540765 5835.92 0.000732
11/2/2018 2350 0.047939 3240 0.057158 0.053099558 5906.292 0.011986
11/5/2018 2330 -0.00855 3160 -0.025 -0.0177569433 5920.594 0.002419
11/6/2018 2340 0.004283 3160 0 0.0018855405 5923.93 0.000563
11/7/2018 2380 0.01695 3210 0.015699 0.0162495365 5939.886 0.00269
11/8/2018 2410 0.012526 3290 0.024617 0.0192935647 5976.806 0.006196
11/9/2018 2350 -0.02521 3300 0.003035 -0.0094011907 5874.154 -0.01732
11/12/2018 2220 -0.05691 3250 -0.01527 -0.0336007321 5777.053 -0.01667
11/13/2018 2240 0.008969 3250 0 0.0039486636 5835.198 0.010015
11/14/2018 2250 0.004454 3200 -0.0155 -0.0067169809 5858.293 0.00395
11/15/2018 2300 0.021979 3150 -0.01575 0.00086194 5955.736 0.016497
11/16/2018 2400 0.04256 3280 0.040441 0.0413737518 6012.35 0.009461
 Rf Beta Jensen Sharpe Treynor
Excess Return
0.0014 0.739149 -0.00089 -0.08744 -0.002767341

0.0072857997
-0.002110589
0.0231691079 BBTN INCO Portfolio Market
0.0305345578 Weight 0.440273 0.559727 1
-0.0046719971 Return -0.07619 0.009188 -0.0284 0.0317842939
-0.0001148503
-0.0046341058
0.015348725
-0.0097767357
-0.0031944476
-0.0229406426
0.0019401956
-0.0123823496
0.0136530294
-0.0158463293
-0.0161674419
0.0168916173
-0.0229399853
-0.0083998162
-0.0060771794
-0.0177560398
0.0024306622
-0.0064062006
-0.0095825162
-0.002648813
-0.0108412617
-0.0246375267
0.0066974073
-0.0351554942
-0.0382910108
-0.0071095682
0.0143734477
0.0497221297
0.0411132452
-0.0201755432
0.0013222527
0.0135596662
0.0130972077
0.0079231291
-0.0169324446
-0.0060658466
 -0.010667
-0.015634563
0.0319128103
Using Alpha/Tracking Error Using Excess Return
Information Ratio Information Ratio
-0.0444432652 -0.0732123428