Kurtosis is a measure of the weight in the tails of a distribution, often described as how peaked a distribution appears. A normal distribution has a kurtosis of 3, so many times kurtosis is reported as excess kurtosis, or the difference from 3. It is often called the fourth moment because it is generated from calculations to the fourth power.
Synonym: excess kurtosis
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False. Stock returns tend to have fatter tails and higher kurtosis
kurtosis for the
distribution is 1.15, and I think it's fair to assume that that's
Bud: It's also fair to assume this whole discussion about kurtosis, to me, is excess.
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