This study is aimed to analyze, to construct, to measure and to value the portfolio performance of IDX30 as stock-based investment with risk adjusted performance. The findings are there were factors from a different group to another different variables, data analysis was performed using Paired Sample Test, ANOVA, and used different test by using One Way of Variance by Rank with Kruskal-Wallish, before it was analyzed, the data has to be standardized with z-score transformation. The results showed that there was different of IDX30 index performance between treatments (hypothesis 1 accepted), another results from expected return showed that there was different between individual performance method and risk adjusted performance on Sharpe (hypothesis 2 accepted) but there were not different on Treynor and Jensen (hypothesis 3 and 4 were rejected), according to groups test between expected return risk adjusted performance showed that there was a significant differences between treatments (hypothesis 5 was accepted), the last result showed that net profit affected the index of sharp and Treynor (hypothesis 6a and 6b accepted) but it was not affect Jensen (hypothesis 6c rejected)