In probability theory and statistics, kurtosis is also referred as "volatility of volatility". It is very similar to the concept of "Skewness". It is used to measure the "tailedness" of the real-valued random variable. It is also used to describe the trends and shape of the probability distribution in a statistical field. It can be present in the charts with fat tails, skinny tails, low, even distribution and the distribution concentrated toward the mean.
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