For physical systems with Hamiltonians analytic in the position and momentum operators the diagonal matrix elements of the density operator in the coherent state representation may be considered as a phase-space probability measure in the stochastic formulation of quantum mechanics. The correspondence rule relating quantum-mechanical observables to ordinary functions in phase space is obtained. It is shown that the dynamics of the time-dependent phase-space probability densities is again representable in the form of a stochastic process.