DEFINITION of 'Coskewness'
A statistical measure that calculates the symmetry of a variable's probability distribution in relation to another variable's probability distribution symmetry. All else being equal, a positive coskewness means that the first variable's probability distribution is skewed to the right of the second variable's distribution.
INVESTOPEDIA EXPLAINS 'Coskewness'
In finance, coskewness can be used as a supplement to the covariance calculation of risk estimation. Usually, coskewness 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 market risk.
An investor would prefer a positive coskewness because this represents a higher probability of extreme positive returns in the security over market returns.

Correlation Coefficient
A measure that determines the degree to which two variable's ... 
Covariance
A measure of the degree to which returns on two risky assets ... 
Beta
A measure of the volatility, or systematic risk, of a security ... 
Kurtosis
A statistical measure used to describe the distribution of observed ... 
Market Risk Premium
The difference between the expected return on a market portfolio ... 
Volatility
1. A statistical measure of the dispersion of returns for a given ...

Fundamental Analysis
Find The Right Fit With Probability ...

Active Trading Fundamentals
Measuring And Managing Investment Risk

Active Trading Fundamentals
Bet Smarter With The Monte Carlo Simulation

Active Trading Fundamentals
How The Sharpe Ratio Can Oversimplify ...