Mixtures of Farlie-Gumbel-Morgenstern Copulas

Some modifications of bivariate Farlie-Gumbel-Morgenstern (FGM) copulas are going to be explained in this article. These modifications are generated by using mixtures of bivariate FGM copula functions. The main goal of this study is to determine both the ranges of association parameter and the rate of correlation, and also observe the changes in local dependence function. An application, which is related with simulated data, is conducted and results are illustrated.