Open AccessVolatility of Jakarta Islamic Index
Author(s) -
Hendri Tanjung
Publication year - 2014
Publication title -
al-iqtishad : jurnal ilmu ekonomi syariah/al-iqtishad
Language(s) - English
Resource type - Journals
eISSN - 2407-8654
pISSN - 2087-135X
DOI - 10.15408/aiq.v6i2.1231
Subject(s) - volatility (finance) , islam , normality , index (typography) , economics , econometrics , financial economics , statistics , mathematics , theology , computer science , philosophy , world wide web
Volatility of Jakarta Islamic Index. This study investigates the volatility of Jakarta Islamic Index (JII) in Jakarta Stock Exchange. The method that used in this research is used a simple statistical analysis. The normality of JII return is analyzed to answer whether the return of JII follows normal distribution. By using data of Jakarta Islamic Index from 2nd March 2009 to 30th October 2013 (1122 daily data), it is found that the distribution of return of JII is not normal, even the 5 sigma occurred. This means the return of Jakarta Islamic Index is much volatile than the theory predicted. This will make too much gain or loss in one day in the economy DOI:10.15408/aiq.v6i2.1231