We give an overview of the physical principles of coherence modulation
of light that are discussed in terms of correlation of stochastic lig
ht fields such as those emitted by broadband sources. Multiplexing pro
perties of this method are also considered in the frame of two system
topologies, the series and parallel configurations, with emphasis put
on source of noise inherent to coherence modulation. Applications are
also reviewed in optical telecommunications, optical sensing, integrat
ed optics and optical computing.