This book focuses on the application of statistical methods in the field of hydrology and hydroclimatology. Among the latest theories being used in these fields, the book introduces the theory of copulas and its applications in this context. The purpose is to develop an understanding and illustrate the usefulness of the statistical techniques with detailed theory and numerous worked out examples. Apart from this, MATLAB-based codes and solutions of some worked out examples are also provided to assist the readers to handle real life data. This book presents a comprehensive knowledge of statistical techniques combining the basics of probability and the current advances in stochastic hydrology. Besides serving as a textbook for graduate courses on stochastic modeling in hydrology and related disciplines, the book offers valuable resources for researchers and professionals involved in the field of hydrology and climatology.