The Fréchet distribution is a type of probability distribution used in statistics to model extreme values. It is particularly useful in fields like finance, meteorology, and environmental science, where understanding rare events, such as floods or stock market crashes, is crucial. The distribution is characterized by its heavy tail, meaning it can predict the occurrence of extreme outcomes more effectively than other distributions. This distribution is named after the French mathematician Maurice Fréchet, who contributed to the theory of extreme value statistics. The Fréchet distribution is one of the three types of extreme value distributions, alongside the Gumbel distribution and the Weibull distribution, and is specifically used for modeling the maximum values in a dataset.