The resolution limit of fluorescence correlation spectroscopy for two-compo
nent solutions is investigated theoretically and experimentally. The autoco
rrelation function for two different particles in solution were computed, s
tatistical noise was added, and the resulting curve was fitted with a least
squares fit. These simulations show that the ability to distinguish betwee
n two different molecular species in solution depends strongly on the numbe
r of photons detected from each particle, their difference in size, and the
concentration of each component in solution. To distinguish two components
, their diffusion times must differ by at least a factor of 1.6 for compara
ble quantum yields and a high fluorescence signal. Experiments were conduct
ed with Rhodamine 6G and Rhodamine-labeled bovine serum albumin. The experi
mental results support the simulations. In addition, they show that even wi
th a high fluorescence signal but significantly different quantum yields, t
he diffusion times must differ by a factor much bigger than 1.6 to distingu
ish the two components. Depending on the quantum yields and the difference
in size, there exists a concentration threshold for the less abundant compo
nent below which it is not possible to determine with statistical means alo
ne that two particles are in solution.