  We present a statistical analysis based on the height and return time
probabilities of high amplitude wave events in both focusing and defocusing
Manakov systems. We find that analytical rational/semirational solutions,
associated with extreme, rogue wave (RW) structures, are the leading high
amplitude events in this system. We define the thresholds for classifying an
extreme wave event as a RW. Our results indicate that there is a strong
relation between the type of the RW and the mechanism which is responsible for
its creation. Initially, high amplitude events originate from modulation
instability. Upon subsequent evolution, the interaction among these events
prevails as the mechanism for RW creation. We suggest a new strategy for
confirming the basic properties of different extreme events. This involves the
definition of proper statistical measures at each stage of the RW dynamics. Our
results point to the need for defining new criteria for identifying RW events.
