noun. A quantity indicating how sharply a probability distribution function increases and decreases around the distribution's mean.

noun. A measure of "peakedness" of a probability distribution, defined as the fourth cumulant divided by the square of the variance of the probability distribution.

"Moreover, the central limit theorem of probability theory does not apply in this context because empirical evidence shows that a constant standard deviation is an inaccurate measure of investment risk, due to the fact that investment performance, is typically skewed and exhibits kurtosis."

excess kurtosis  leptokurtic  leptokurtosis  mesokurtic  mesokurtosis  

asset-weighted  backscatter  dimensionless  imagetm  jth