Copula families including independence copula, estimation methods of copulas and inter-sectoral dependence structure for Istanbul Stock Exchange

In the most austere expression, copulas are used to introduce the dependence structure among the random variables. In recent years, the researchs on statistical and mathematical properties of copulas go on increasingly and the applications on copulas are becoming widespread more and more. In this thesis, the bivariate copula families including independence copula are investigated in respect of their functional forms and the copula estimation methods developed as yet are examined. In addition, so as to illustrate the copula estimation methods it is tried to expose the dependence structure between sectors to view by using the sectoral index data of Istanbul Stock Exchange.