Prior to copula fitting, we must identify the dependency between two variable. What are the purpose of calculating the dependency? Some research said dependency value for example Kendall Tau value will use to estimate the copula parameter.

My supervisor said based on the Kendall Tau value we can decide which copula is suitable because difference type of copula have difference range of Kendall Tau value.

Can anyone of you explain about the above problem.

Thanks

Prior to copula fitting, we must identify the dependency between two variable. What are the purpose of calculating the dependency? Some research said dependency value for example Kendall Tau value will use to estimate the copula parameter.

My supervisor said based on the Kendall Tau value we can decide which copula is suitable because difference type of copula have difference range of Kendall Tau value.

Can anyone of you explain about the above problem.