“…For an n-dimensional random vector U = (U1, U2, ... , Un) on the unit cube, a copula C is a multivariate CDF such that: C(U1' U2,···, un) = Pr(Ul :S U1,···, Un :S un). (7) By applying Sklar's theorem [9], we can easily derive the expression of the joint CDF F(X1, ... , xn) associated with a copula C. Let X1,X2, ... ,Xn be n random variables with CDFs F1 (xd, F2(X2), ... , Fn(xn), respectively. Sklar's theorem states that there exists a copula C such that \/x (Xl,X2, ... ,xn)ElR n…”