Statistical properties of a turbulent cascade are evaluated by conside
ring the joint probability distribution p(v(1), L(1); v(2), L(2)) for
two velocity increments v(1), v(2) of different length scales L(1), L(
2). We present experimental evidence that the conditional probability
distribution p(v(2), L(2)/v(1), L(1)) obeys a Chapman-Kolmogorov equat
ion. We evaluate the Kramers-Moyal coefficients and show evidence that
higher-order coefficients vanish except for the drift and diffusion c
oefficient. As a result the joint probability distributions obeys a Fo
kker-Planck equation. We calculate drift and diffusion coefficients an
d discuss their relationship to universal behaviour in the scaling reg
ion and to intermittency of the turbulent cascade.