31. Accurately estimating correlations requires the modeling process of marginals to incorporate characteristics such as skewness and kurtosis . 32. The degrees of freedom parameter controls the kurtosis of the distribution and is correlated with the scale parameter. 33. The reference given prefers to use the " excess kurtosis " the kurtosis less 3. 34. The reference given prefers to use the " excess kurtosis " the kurtosis less 3. 35. Empirical asset returns distributions, however, tend to exhibit fat-tails ( kurtosis ) and skew. 36. The moment generating functions are derived and skewness and kurtosis are obtained from MGF by Muraleedharan and Guedes Soares 37. The wiki page describes one condition in which kurtosis of a sum is the sum of a kurtosis. 38. The wiki page describes one condition in which kurtosis of a sum is the sum of a kurtosis . 39. The null hypothesis is a joint hypothesis of the skewness being zero and the excess kurtosis being zero. 40. One is that kurtosis measures both the " peakedness " of the distribution and the heaviness of its tail.
