  The generalized correlation approach, which has been successfully used in
statistical radio physics to describe non-Gaussian random processes, is
proposed to describe stochastic financial processes. The generalized
correlation approach has been used to describe a non-Gaussian random walk with
independent, identically distributed increments in the general case, and
high-order correlations have been investigated. The cumulants of an
asymmetrically truncated Levy distribution have been found. The behaviors of
asymmetrically truncated Levy flight, as a particular case of a random walk,
are considered. It is shown that, in the Levy regime, high-order correlations
between values of asymmetrically truncated Levy flight exist. The source of
high-order correlations is the non-Gaussianity of the increments: the increment
skewness generates threefold correlation, and the increment kurtosis generates
fourfold correlation.
