A correlation spectrometer permanently incorporates a reference cell and an electro-optical phase modulator (EOPM) in the light path between a sample cell and a detector. The effect of the EOPM is such that its frequency modulates all of the monochromatic component of the incoherent radiation passing through it. The EOPM is adjusted so that when it is ON all of the energy in the monochromatic components is thrown into sidebands differing from the original frequencies by integral multiples of the modulation frequency with the total amount of energy absorbed from the original radiation remaining constant. When there is no coincidence between the constituents in the two cells, the detector's output is the same when the EOPM is ON and when it is OFF. However, when there is coincidence the detector's output changes when the EOPM is switched between its two states. The change in the detector's output is related to the quantity of the constituents in the sample cell