As an analogy: If you consider opening a raw file in your raw conversion software, you see a preview image on your monitor, right? That preview itself is not really a jpeg, but it does show you essentially how your image would look if you did choose to save it out as a jpeg.
Back to the camera: The "live view" image that you see on the camera LCD is a preview image that is generated on-the-fly from the raw data. It's not strictly a jpeg in the sense that they haven't written out a jpeg file to the memory card, but rather they've gone through many of the steps that raw converters normally do when processing a raw file (e.g., white balance, color profiles, tone curve, noise reduction, sharpening, lens corrections, etc.). So it's a processed result, and the histogram reflects that. Change the in-camera white balance (e.g., Daylight to Tungsten) and you change the on-screen preview, and the histogram correspondingly. Same with any other in-camera color & tone setting.