Modeling and Risk Analysis Using Parametric Distributions with an Application in Equity-Linked Securities

Figure 3

Skew normal distribution and skew Student’s t distribution with the skew parameter α = −5, 0, 5. (a) Parameters µ = 0; σ = 1; ν = 5. (b) Parameters µ = 0; σ = 1.

(a)

(b)