1.

Astra Agro Lestari (AALI)

Harga Return Saham
Tanggal (RA – RAVG)2
Saham (RA)
29 Maret 2019 11.225 - 0,00883 0,000019492225
5 April 2019 12.400 0 0,000019492225
RAVG = - 0,004415 ∑ (RA – RAVG)2 = 0,00003898445

Ri =

R29 = 11.225 – 11.325

11.325
= - 0,00883
R5 = 12.400 – 12.400
12.400
= 0
n
Variance=∑ ¿ ¿ ¿
i=1

= 0,00003898445
2-1
= 0,00003898445
IHSG
Return Indeks Pasar
Tanggal IHSG (RM – RAVG)2
(RM)
29 Maret 2019 6,468.75 - 0,001857 0,00000043099225
5 April 2019 6,474.02 - 0,00317 0,00000043099225
∑ (RA – RAVG)2 =
RAVG = - 0,0025135
0,0000008619845
R29 = 6,468.75 – 6,480.79
6,480.79
= - 0,001857
ERm = -0,0009285
R5 = 6,474.02 – 6,494.63
6,494.63
= - 0,00317
ERm = -0,001585
Variance = 0,0000008619845
COVARIANCE

Return Return Indeks Product

X – X avg Y – Y avg
Saham (X) Pasar (Y) (X-Xavg) (Y-Yavg)
- 0,00883 - 0,001857 - 0,004415 0,0006565 - 0,0000028984475
0 - 0,00317 0,004415 - 0,0006565 - 0,0000028984475
X avg = Y avg =
∑ = 0,000005796895
- 0,004415 - 0,0025135

Σ ( X−Xavg ) (Y −Yavg)
Covariance=
n−1
= 0,000005796895
Beta = 0,000005796895
0,0000008619845
= 6,725057121
 2. ACE Hardware Indonesia Tbk. (ACES)

Harga Return Saham

Tanggal (RA – RAVG)2
Saham (RA)
29 Maret 2019 1.780 - 0,0326 0,00031684
5 April 2019 1.660 0,0030 0,00031684
RAVG = - 0,0148 ∑ (RA – RAVG)2 = 0,00063368

R29 = 1.780 – 1.840

1.840
= - 0,0326
R5 = 1.660 – 1.655
1.655
= 0,0030
n
Variance=∑ ¿ ¿ ¿
i=1

= 0,00063368
IHSG
Return Indeks Pasar
Tanggal IHSG (RM – RAVG)2
(RM)
29 Maret 2019 6,468.75 - 0,001857 0,00000043099225
5 April 2019 6,474.02 - 0,00317 0,00000043099225
∑ (RA – RAVG)2 =
RAVG = - 0,0025135
0,0000008619845
R29 = 6,468.75 – 6,480.79
6,480.79
= - 0,001857
ERm = -0,0009285
R5 = 6,474.02 – 6,494.63
6,494.63
= - 0,00317
ERm = -0,001585
Variance = 0,0000008619845
COVARIANCE

Return Return Indeks Product

X – X avg Y – Y avg
Saham (X) Pasar (Y) (X-Xavg) (Y-Yavg)
- 0,0326 - 0,001857 - 0,0178 0,0006565 -0,0000116857
0,0030 - 0,00317 0,0178 - 0,0006565 -0,0000116857
X avg = Y avg =
∑ = - 0,0000233714
- 0,0148 - 0,0025135

Σ ( X−Xavg ) (Y −Yavg)
Covariance=
n−1
= - 0,0000233714
Beta = - 0,0000233714
0,0000008619845
= -27,11348058

3. Adhi Karya Persero Tbk. (ADHI)

Harga Return Saham

Tanggal (RA – RAVG)2
Saham (RA)
29 Maret 2019 1.645 -0,0030 0,000008381025
5 April 2019 1.690 - 0,00879 0,000008381025
 RAVG = - 0,005895 ∑ (RA – RAVG)2 = 0,00001676205

R29 = 1.645 – 1.650

1.650
= -0,0030
R5 = 1.690 – 1.705
1.705
= - 0,00879
n
Variance=∑ ¿ ¿ ¿
i=1

= 0,00001676205
IHSG
Return Indeks Pasar
Tanggal IHSG (RM – RAVG)2
(RM)
29 Maret 2019 6,468.75 - 0,001857 0,00000043099225
5 April 2019 6,474.02 - 0,00317 0,00000043099225
∑ (RA – RAVG)2 =
RAVG = - 0,0025135
0,0000008619845

R29 = 6,468.75 – 6,480.79

6,480.79
= - 0,001857
ERm = -0,0009285
R5 = 6,474.02 – 6,494.63
6,494.63
 = - 0,00317
ERm = -0,001585
Variance = 0,0000008619845

COVARIANCE

Return Return Indeks Product

X – X avg Y – Y avg
Saham (X) Pasar (Y) (X-Xavg) (Y-Yavg)
-0,0030 - 0,001857 0,002895 0,0006565 0,0000019005675
- 0,00879 - 0,00317 - 0,002895 - 0,0006565 0,0000019005675
X avg = Y avg =
∑ = 0,000003801135
- 0,005895 - 0,0025135

Σ ( X−Xavg ) (Y −Yavg)
Covariance=
n−1
= 0,000003801135
Beta = 0,000003801135
0,0000008619845
= 4,409748667

4. Adaro Energy Tbk. (ADRO)

Harga Return Saham

Tanggal (RA – RAVG)2
Saham (RA)
29 Maret 2019 1.345 - 0,0037 0,0000354025
5 April 2019 1.260 - 0,0156 0,0000354025
RAVG = - 0,00965 ∑ (RA – RAVG)2 = 0,000070805
R29 = 1.345 – 1.350
1.350
= - 0,0037

R5 = 1.260 – 1.280
1.280
= - 0,0156
n
Variance=∑ ¿ ¿ ¿
i=1

= 0,000070805

IHSG
Return Indeks Pasar
Tanggal IHSG (RM – RAVG)2
(RM)
29 Maret 2019 6,468.75 - 0,001857 0,00000043099225
5 April 2019 6,474.02 - 0,00317 0,00000043099225
∑ (RA – RAVG)2 =
RAVG = - 0,0025135
0,0000008619845

R29 = 6,468.75 – 6,480.79

6,480.79
= - 0,001857
ERm = -0,0009285
R5 = 6,474.02 – 6,494.63
6,494.63
= - 0,00317
ERm = -0,001585
Variance = 0,0000008619845
COVARIANCE

Return Return Indeks Product

X – X avg Y – Y avg
Saham (X) Pasar (Y) (X-Xavg) (Y-Yavg)
- 0,0037 - 0,001857 0,00595 0,0006565 0,000003906175
- 0,0156 - 0,00317 - 0,00595 - 0,0006565 0,000003906175
X avg = Y avg =
∑ = 0,00000781235
- 0,00965 - 0,0025135

Σ ( X−Xavg ) (Y −Yavg)
Covariance=
n−1
= 0,00000781235
Beta = 0,00000781235
0,0000008619845
= 9,063214014

5. Bank Rakyat Indonesia Agroniaga. (AGRO)

Harga Return Saham

Tanggal (RA – RAVG)2
Saham (RA)
29 Maret 2019 320 - 0,01234 0,000009390853803
5 April 2019 320 - 0,0062111 0,000009390853803
RAVG = - ∑ (RA – RAVG)2 =
0,00927555 0,00001878170761
R29 = 320 – 324
324
= - 0,01234

R5 = 320 – 322
322
= - 0,0062111
n
Variance=∑ ¿ ¿ ¿
i=1

= 0,00001878170761

IHSG
Return Indeks Pasar
Tanggal IHSG (RM – RAVG)2
(RM)
29 Maret 2019 6,468.75 - 0,001857 0,00000043099225
5 April 2019 6,474.02 - 0,00317 0,00000043099225
∑ (RA – RAVG)2 =
RAVG = - 0,0025135
0,0000008619845

R29 = 6,468.75 – 6,480.79

6,480.79
= - 0,001857
ERm = -0,0009285
R5 = 6,474.02 – 6,494.63
6,494.63
= - 0,00317
ERm = -0,001585
Variance = 0,0000008619845

COVARIANCE

Return Return Indeks Product

X – X avg Y – Y avg
Saham (X) Pasar (Y) (X-Xavg) (Y-Yavg)
- 0,01234 - 0,001857 - 0,00306445 0,0006565 - 0,000002011811425
- 0,0062111 - 0,00317 0,00306445 - 0,0006565 - 0,000002011811425
X avg = Y avg =
∑ = - 0,00000402362285
- 0,00927555 - 0,0025135

Σ ( X−Xavg ) (Y −Yavg)
Covariance=
n−1
= - 0,00000402362285
Beta = - 0,00000402362285
0,0000008619845
= - 4,667859863

6. Akr Corporindo Tbk. (AKRA)

Harga Return Saham

Tanggal (RA – RAVG)2
Saham (RA)
29 Maret 2019 4.720 - 0,01048 0,00007063562025
5 April 2019 4.770 0,006329 0,00007063562025
RAVG = -
∑ (RA – RAVG)2 = 0,0001412712405
0,0020755
R29 = 4.720 – 4.770
4.770
= - 0,01048

R5 = 4.770 – 4.740
4.740
= 0,006329
n
Variance=∑ ¿ ¿ ¿
i=1

= 0,0001412712405

IHSG
Return Indeks Pasar
Tanggal IHSG (RM – RAVG)2
(RM)
29 Maret 2019 6,468.75 - 0,001857 0,00000043099225
5 April 2019 6,474.02 - 0,00317 0,00000043099225
∑ (RA – RAVG)2 =
RAVG = - 0,0025135
0,0000008619845

R29 = 6,468.75 – 6,480.79

6,480.79
= - 0,001857
ERm = -0,0009285
R5 = 6,474.02 – 6,494.63
6,494.63
= - 0,00317
ERm = -0,001585
Variance = 0,0000008619845

COVARIANCE

Return Return Indeks Product

X – X avg Y – Y avg
Saham (X) Pasar (Y) (X-Xavg) (Y-Yavg)
- 0,01048 - 0,001857 - 0,0084045 0,0006565 - 0,00000551755425
0,006329 - 0,00317 0,0084045 - 0,0006565 - 0,00000551755425
X avg = Y avg =
∑ = - 0,0000110351085
- 0,0020755 - 0,0025135

Σ ( X−Xavg ) (Y −Yavg)
Covariance=
n−1
= - 0,0000110351085
Beta = - 0,0000110351085
0,0000008619845
= - 12,8019802

7. Aneka Tambang Persero Tbk. (ANTM)

Harga Return Saham

Tanggal (RA – RAVG)2
Saham (RA)
29 Maret 2019 885 0,005681 0,00006889830025
5 April 2019 905 - 0,01092 0,00006889830025
RAVG = -
∑ (RA – RAVG)2 = 0,0001377966005
0,0026195
R29 = 885 – 880
880
= 0,005681

R5 = 905 – 915
915
= - 0,01092
n
Variance=∑ ¿ ¿ ¿
i=1

= 0,0001377966005

IHSG
Return Indeks Pasar
Tanggal IHSG (RM – RAVG)2
(RM)
29 Maret 2019 6,468.75 - 0,001857 0,00000043099225
5 April 2019 6,474.02 - 0,00317 0,00000043099225
∑ (RA – RAVG)2 =
RAVG = - 0,0025135
0,0000008619845

R29 = 6,468.75 – 6,480.79

6,480.79
= - 0,001857
ERm = -0,0009285
R5 = 6,474.02 – 6,494.63
6,494.63
 = - 0,00317
ERm = -0,001585
Variance = 0,0000008619845

COVARIANCE

Return Return Indeks Product

X – X avg Y – Y avg
Saham (X) Pasar (Y) (X-Xavg) (Y-Yavg)
0,005681 - 0,001857 0,0083005 0,0006565 0,00000544927825
- 0,01092 - 0,00317 - 0,0083005 - 0,0006565 0,00000544927825
X avg = Y avg =
∑ = 0,0000108985565
- 0,0026195 - 0,0025135

Σ ( X−Xavg ) (Y −Yavg)
Covariance=
n−1
= 0,0000108985565
Beta = 0,0000108985565
0,0000008619845
= 12,64356436

8. Agung Podomoro Land Tbk. (APLN)

Harga Return Saham

Tanggal (RA – RAVG)2
Saham (RA)
29 Maret 2019 173 - 0,03888 0,000652036225
5 April 2019 166 0,01219 0,000652036225
 RAVG = -
∑ (RA – RAVG)2 = 0,00130407245
0,013345

R29 = 173 – 180

180
= - 0,03888

R5 = 166 – 164
164
= 0,01219
n
Variance=∑ ¿ ¿ ¿
i=1

= 0,00130407245

IHSG
Return Indeks Pasar
Tanggal IHSG (RM – RAVG)2
(RM)
29 Maret 2019 6,468.75 - 0,001857 0,00000043099225
5 April 2019 6,474.02 - 0,00317 0,00000043099225
∑ (RA – RAVG)2 =
RAVG = - 0,0025135
0,0000008619845

R29 = 6,468.75 – 6,480.79

6,480.79
= - 0,001857
ERm = -0,0009285
R5 = 6,474.02 – 6,494.63
6,494.63
= - 0,00317
ERm = -0,001585
Variance = 0,0000008619845

COVARIANCE

Return Return Indeks Product

X – X avg Y – Y avg
Saham (X) Pasar (Y) (X-Xavg) (Y-Yavg)
- 0,03888 - 0,001857 - 0,025535 0,0006565 - 0,0000167637275
0,01219 - 0,00317 0,025535 - 0,0006565 - 0,0000167637275
X avg = Y avg =
∑ = - 0,000033527455
- 0,013345 - 0,0025135

Σ ( X−Xavg ) (Y −Yavg)
Covariance=
n−1
= - 0,000033527455
Beta = - 0,000033527455
0,0000008619845
= -38,8956588

9. Astra International Tbk. (ASII)

Harga Return Saham

Tanggal (RA – RAVG)2
Saham (RA)
29 Maret 2019 7.325 0,02807 0,0001533845095
 5 April 2019 7.600 0,0033003 0,0001533845095
RAVG =
∑ (RA – RAVG)2 = 0,000306769019
0,01568515

R29 = 7.325 – 7.125

7.125
= 0,02807

R5 = 7.600 – 7.575
7.575
= 0,0033003
n
Variance=∑ ¿ ¿ ¿
i=1

= 0,000306769019

IHSG
Return Indeks Pasar
Tanggal IHSG (RM – RAVG)2
(RM)
29 Maret 2019 6,468.75 - 0,001857 0,00000043099225
5 April 2019 6,474.02 - 0,00317 0,00000043099225
∑ (RA – RAVG)2 =
RAVG = - 0,0025135
0,0000008619845

R29 = 6,468.75 – 6,480.79

6,480.79
 = - 0,001857
ERm = -0,0009285

R5 = 6,474.02 – 6,494.63
6,494.63
= - 0,00317
ERm = -0,001585
Variance = 0,0000008619845

COVARIANCE

Return Return Indeks Product

X – X avg Y – Y avg
Saham (X) Pasar (Y) (X-Xavg) (Y-Yavg)
0,02807 - 0,001857 0,01238485 0,0006565 0,000008130654025
0,0033003 - 0,00317 - 0,01238485 - 0,0006565 0,000008130654025
X avg = Y avg =
∑ = 0,00001626130805
0,01568515 - 0,0025135

Σ ( X−Xavg ) (Y −Yavg)
Covariance=
n−1
= 0,00001626130805
Beta = 0,00001626130805
0,0000008619845
= 18,86496573