We present results of statistical analysis of solar wind turbulence using an
approach based on the theory of Markov processes. It is shown that the
Chapman-Kolmogorov equation is approximately satisfied for the turbulent
cascade. We evaluate the first two Kramers-Moyal coefficients from experimental
data and show that the solution of the resulting Fokker-Planck equation agrees
well with experimental probability distributions. Our results suggest the
presence of a local transfer mechanism for magnetic field fluctuations in solar
wind turbulence