DEFINITION of 'Cokurtosis'
A statistical measure that calculates the degree of peak of a variable's probability distribution in relation to another variable's peakedness. All other things equal, a higher cokurtosis means that the first variable has a flatter probability distribution.
INVESTOPEDIA EXPLAINS 'Cokurtosis'
In finance, cokurtosis can be used as a supplement to the covariance calculation of risk estimation. Usually cokurtosis is calculated using a security's historic price data as the first variable, and the market's historic price data as the second. This provides an estimation of the security's risk in relation to the market.
For a riskadverse investor, a lower cokurtosis is preferred, as the security's returns would not be much different from the market's returns (i.e. low beta).

Leptokurtic
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Platykurtic
A type of statistical distribution where the points along the ... 
Skewness
Describe asymmetry from the normal distribution in a set of statistical ... 
Covariance
A measure of the degree to which returns on two risky assets ... 
Correlation Coefficient
A measure that determines the degree to which two variable's ... 
Kurtosis
A statistical measure used to describe the distribution of observed ...

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