Statistical static timing analysis
SSTA attacks these limitations more or less directly. First, SSTA uses sensitivities to find correlations among delays. Then it uses these correlations when computing how to add statistical distributions of delays.
There is no technical reason why determistic STA could not be enhanced to handle correlation and sensitivities, by keeping a vector of sensitivities with each value as SSTA does. Historically, this seemed like a big burden to add to STA, whereas it was clear it was needed for SSTA, so no-one complained. See some of the criticism of SSTA below where this alternative is proposed.
There are two main categories of SSTA algorithms – path-based and block-based methods.
There are SSTA cell characterization tools that are now available such as Altos Design Automation's Variety tool.