Analisis Korelasi dan Pergerakan bersama Saham, Emas dan Bitcoin Studi Kasus Pasar Indonesia

Dona Ertika Shafira; Ossi Ferli; Enny Haryanti; Erric Wijaya

doi:10.34149/jmbr.v20i3.604

Analisis Korelasi dan Pergerakan bersama Saham, Emas dan Bitcoin Studi Kasus Pasar Indonesia

Dona Shafira - Management, STIE Indonesia Banking School , & Management, STIE Indonesia Banking School , &
Ossi Ferli - Management, STIE Indonesia Banking School
Enny Haryanti - Management, STIE Indonesia Banking School
Erric Wijaya - Management, STIE Indonesia Banking School

Abstract

The Covid-19 pandemic that emerged in Indonesia in early 2020 has caused changes in social and economic conditions throughout the world, including Indonesia. Investment has become an interesting topic among the Indonesian people. This increasing trend has been visible since 2019; the implementation of the simplification for opening securities accounts has had a significant impact on increasing the number of capital market investors, especially during the Covid-19 pandemic. The research aims to test whether there is an influence of bitcoin and gold on stocks. This research uses secondary data. The population in the research is Stock Prices (IDX 30), bitcoin prices, and gold prices, with sample data for January 2018-December 2022. The analysis method used is the Error Correction Model. The research results show that bitcoin variables in the long-term and short-term bitcoin do not influence shares. Gold variables in the long-term and short-term influence shares. The correlation between shares and Bitcoin, namely the bitcoin variable, has a significant relationship with the stock variable. The correlation between shares and gold does not have a significant relationship with the stock variable. The implication of this research is the influence of shares on other investment instruments, namely bitcoin and gold in Indonesia, so that the investment instruments shares, bitcoin, and gold are almost the same choices for investors when used in the long-term and short term.

Keywords

Stocks; Bitcoin; Gold; Hegde; Safe Haven

Full Text:

PDF (Bahasa Indonesia)

References

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DOI: https://doi.org/10.34149/jmbr.v20i3.604

BibTex Citation Data :

@article{jmbr604,
    	author = {Dona Shafira and Ossi Ferli and Enny Haryanti and Erric Wijaya},
    	title = {Analisis Korelasi dan Pergerakan bersama Saham, Emas dan Bitcoin Studi Kasus Pasar Indonesia},
    	journal = {Journal of Management and Business Review},
    	volume = {20},
    	number = {3},
    	year = {2023},
    	keywords = {Stocks; Bitcoin; Gold; Hegde; Safe Haven},
    	abstract = {The Covid-19 pandemic that emerged in Indonesia in early 2020 has caused changes in social and economic conditions throughout the world, including Indonesia. Investment has become an interesting topic among the Indonesian people. This increasing trend has been visible since 2019; the implementation of the simplification for opening securities accounts has had a significant impact on increasing the number of capital market investors, especially during the Covid-19 pandemic. The research aims to test whether there is an influence of bitcoin and gold on stocks. This research uses secondary data. The population in the research is Stock Prices (IDX 30), bitcoin prices, and gold prices, with sample data for January 2018-December 2022. The analysis method used is the Error Correction Model. The research results show that bitcoin variables in the long-term and short-term bitcoin do not influence shares. Gold variables in the long-term and short-term influence shares. The correlation between shares and Bitcoin, namely the bitcoin variable, has a significant relationship with the stock variable. The correlation between shares and gold does not have a significant relationship with the stock variable. The implication of this research is the influence of shares on other investment instruments, namely bitcoin and gold in Indonesia, so that the investment instruments shares, bitcoin, and gold are almost the same choices for investors when used in the long-term and short term.},
        	issn = {2503-0736},    	pages = {207--220},    	doi = {10.34149/jmbr.v20i3.604},
        	url = {https://jmbr.ppm-school.ac.id/index.php/jmbr/article/view/604}
    }