The Stingray Copula for Negative Dependence

We present a new single-parameter bivariate copula, called the Stingray, that is dedicated to represent negative dependence. This copula is generated in a novel way and has a simple form. We provide visual incarnations of the copula, we derive a number of dependence properties and we compute basic concordance measures. We compare its reach as regards the extend of dependence to other copulas and joint distributions. We show by simulation that it has individuality, and we apply it to a financial data sample from the buildings construction sector, in order to model the negative relation between the level of capital employed and its gross rate of return.