Sketching techniques can provide approximate answers to aggregate queries either for data-streaming or distributed computation. Small space summaries that have linearity properties are required for both types of applications. The prevalent method for analyzing sketches uses moment analysis and distribution independent bounds based on moments. This method produces clean, easy to interpret, theoretical bounds that are especially useful for deriving asymptotic results. However, the theoretical bounds obscure fine details of the behavior of various sketches and they are mostly not indicative of which type of sketches should be used in practice. Moreover, no significant empirical comparison between various sketching techniques has been published, which makes the choice even harder. In this paper, we take a close look at the sketching techniques proposed in the literature from a statistical point of view with the goal of determining properties that indicate the actual behavior and producing...