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Ascertaining on the suitability of the Weibull distribution to model fading channels, a theoretical framework for a class of multivariate Weibull distributions, originated from Gaussian random processes, is introduced and analyzed. Novel analytical expressions for the joint probability density function (pdf), moment-generating function (mgf), and cumulative distribution function (cdf) are derived for the bivariate distribution of this class with not necessarily identical fading parameters and average powers. Two specific distributions with arbitrary number of correlated variates are considered and studied: with exponential and with constant correlation where their pdfs are introduced. Both cases assume equal average fading powers, but not necessarily identical fading parameters. For the multivariate Weibull distribution with exponential correlation, useful corresponding formulas, as for the bivariate case, are derived. The presented theoretical results are applied to analyze the performance of several diversity receivers employed with selection, equal-gain, and maximal-ratio combining (MRC) techniques operating over correlated Weibull fading channels. For these diversity receivers, several useful performance criteria such as the moments of the output signal-to-noise ratio (SNR) (including average output SNR and amount of fading) and outage probability are analytically derived. Moreover, the average symbol error probability for several coherent and noncoherent modulation schemes is studied using the mgf approach. The proposed mathematical analysis is complemented by various evaluation results, showing the effects of the fading severity as well as the fading correlation on the diversity receivers performance.