Kurtosis is a measure of the peakedness of the probability distribution of a real-valued random variable. It is the fourth central movement of a distribution. The first three movements are mean, standard deviation, and skewness. It measures the distribution’s peakedness and the thickness of its tails.
Higher kurtosis means more of the variance is the result of infrequent extreme deviations, as opposed to frequent modestly sized deviations. Leptokurtosis, or positive excess kurtosis, indicates a distribution that is more peaked at the center and has fatter than normal tails. Platykurtosis, or negative excess kurtosis, indicates a relatively flatter top and thinner tails.
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