Experimental measurements supported by a simple model show that the upper and lower phase modulation (PM) noise sidebands are always equal and 100% correlated, independent of the noise power originating from multiplicative or additive processes. Similarly, we show that the upper and lower amplitude modulation (AM) noise sidebands are also equal and 100% correlated, independent of the noise power originating from multiplicative or additive processes, Moreover, the single sideband (SSB) PM noise is always equal to one-half the total PM noise. The same is true for the AM noise. Although the upper and lower PM or AM noise sidebands are equal and correlated for broadband additive noise, the phase between the AM and the PM sidebands varies randomly with time. These conclusions still hold even when the RF noise sidebands are not symmetric about the carrier.