In this paper, we concentrate on new methodologies for copulas introduced and developed by Joe, Cooke, Bedford, Kurowica, Daneshkhah and others on the new class of graphical models called vines as a way of constructing higher dimensional distributions. We develop the approximation method presented by Bedford et al (2012) at which they show that any n-dimensional copula density can be approximated arbitrarily well pointwise using a finite parameter set of 2-dimensional copulas in a vine or pair-copula construction. Our constructive approach involves the use of minimum information copulas that can be specified to any required degree of precision based on the available data or experts' judgements. By using this method, we are able to use a fixed finite dimensional family of copulas to be employed in a vine construction, with the promise of a uniform level of approximation.The basic idea behind this method is to use a two-dimensional ordinary polynomial series to approximate any log-density of a bivariate copula function by truncating the series at an appropriate point. We present an alternative approximation of the multivariate distribution of interest by considering orthonormal polynomial and Legendre multiwavelets as the basis functions. We show the derived approximations are more precise and computationally faster with better properties than the one proposed by Bedford et al. (2012). We then apply our method to modelling a dataset of Norwegian financial data that was previously analysed in the series of papers, and finally compare our results by them.

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In this paper, we propose an asymmetric class of bivariate copulas.This class is obtained through limiting properties of the extended copula introduced by Bekrizadeh, et al. (2015), and includes some of known copulas. Some general formulas for well-known association measures and concepts of dependence of the proposed model are obtained. This paper highlights the usefulness of this new bivariate copula for modeling the interested variables whose marginal distribution effect on joint distribution isn't identical. We apply some sub-families of this new class to model a dataset of medical science to show the superiority of presented model in comparison with the known copulas. These results will be investigated using simulation.