This second edition 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, sample scripts based on MATLAB, Python and R for some examples are also provided to assist the readers to handle real life data. Besides serving as a textbook for graduate courses on stochastic modeling in hydrology and related disciplines, the book offers a valuable resource for researchers and professionals involved in the field of hydrology and climatology.