ANALISIS KINERJA PORTOFOLIO OPTIMAL CONSUMPTION-BASED CAPITAL ASSET PRICING MODEL (CCAPM) DENGAN METODE APPRAISAL RATIO (STUDI KASUS : SAHAM JAKARTA ISLAMIC INDEX (JII) PERIODE 1 MEI 2014 – 30 APRIL 2018)

The stock portfolio is a collection of investment assets in the form of shares formed by investors. The purpose of portfolio formation is to minimize the risk of investment activities. Portfolios are basically how an investor allocates funds owned in various types of investments in order to get optimal benefits. By diversifying, an investor can minimize the level of risk gained and at the same time can maximize the rate of return obtained. To create a portfolio there are various types of models that This study discusses the analysis of optimal stock portfolio performance using the Consumption-based Asset Pricing Model (CCAPM) model. Portfolios that are formed are then evaluated using the Appraisal Ratio performance measurement method. This is done to help investors in choosing the stocks that are most profitable for them. The stock data used in this study is the Jakarta Islamic Index (JII) Stock for the period of 1 May 2014 to 30 April 2018. The results of this study indicate that the composition of the shares forming the Optimal CCAPM Portfolio, namely ICBP shares and UNVR Shares with each share proportion of 99.58% and 0.42%. After evaluating the performance measurement with the Appraisal Ratio method, the performance value is 6.2070