What is the Bera-Jarque statistic?

The Bera-Jarque statistic combines skewness and kurtosis into a single measurement, and determines whether kurtosis is unusually different from its expected value.

It is calculated as T/6[skewness^2 + (kurtosis^2/4)]

If the Bera-Jarque statistic is less than 5.99, the returns are considered normally distributed.

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See also:
  • The Cash Cycle
  • Technical Analysis Explained : The Successful Investor's Guide to Spotting Investment Trends and Turning Points

    The Intelligent Investor: The Classic Text on Value Investing

    Financial Statement Analysis: A Practitioner's Guide, 3rd Edition

    Managing Investment Portfolios: A Dynamic Process (CFA Institute Investment Series)

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