On a new measure of dependence and its applications

TL;DRAbstract

Abstract A new measure of dependence called pseudo-covariance and related to covariance is proposed. It can be applied in problems when the classic covariance fails. We show that it can be used as a measure of dependence of uncorrelated random variables and in characterizations of continuous distributions (here power distribution on (0, 1) and exponential distribution).

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