ANALISIS PERBANDINGAN KINERJA CRYPTOCURRENCY BITCOIN, SAHAM DAN EMAS SEBAGAI ALTERNATIF INVESTASI

Abstract

Corona Virus Disease (Covid-19) was found in Indonesia at the beginning of March 2020. This situation affects many sectors, such as the economy, business, tourism, and others especially, the investment sector which is very sensitive to economic change. This research aimed to examine the performance comparison among Cryptocurrency, Bitcoin, Stock, and Gold at the beginning of the Pandemic started in Indonesia, i.e. March 2020-March 2021.The research was comparative-quantitative with secondary data. Moreover, the data collection technique used saturated sampling. Furthermore, the data analysis technique used Kruskall-Wallis test, in which the data were calculated using Microsoft Excel based on the formula of each variable. Meanwhile, the statistical data were analyzed using SPSS. The research result concluded that there was a significant difference between Cryptocurrency, Bitcoin, Stock, and Gold. Additionally, there was also a significant difference in the risk of Cryptocurrency Bitcoin, Stock, and Gold. In addition, from the performance measurement using Sharpe and Treynor, it was found that there was a significant difference. However, from the performance measurement of Jensen; Cryptocurrency Bitcoin, Stock of LQ-45, and Gold did not have a significant effect.