The study is focused on the analysis and statistical evaluation of the joint probability of the occurrence of hydrological variables such as peak discharge (Q), volume (V) and duration (t). In our case study, we focus on the bivariate statistical analysis of these hydrological variables of the Danube River in Bratislava gauging station, during the period of 1876-2013. The study presents the methodology of the bivariate statistical analysis, choice of appropriate marginal distributions and appropriate copula functions in representing the joint distribution. Finally, the joint return periods and conditional return periods for some hydrological pairs (Q-V, V-t, Q-t) were calculated. The approach using copulas can reproduce a wide range of correlation (nonlinear) frequently observed in hydrology. Results of this study provide comprehensive information about flood where a devastating effect may be increased in the case where its three basic components (or at least two of them) Q, V and t have the same significance.