Signature sequences with both good even and odd (or polyphase) correla
tions are crucial for asynchronous code-division multiple access (CDMA
), When the data sequence is random, the even and odd (or polyphase) c
orrelations are equally important, However, for most known signature s
equences, only their even correlations were analyzed. It appears that
determining the odd (or the polyphase) correlations is generally a ver
y hard problem since the odd (or the polyphase) correlations depend on
the phases of the signature sequences. Sole, Boztas, Hammons, and Kum
ar found a family of quadriphase sequences that are asymptotically opt
imal. These sequences gain a factor root 2 in terms of their maximum p
eriodic even correlations when compared with the best possible binary
phase-shift keying (BPSK) sequences. In this paper, we find the optima
l phases of these sequences. The optimality is in the sense that at th
ese phases, the mean square values of the even, odd, and the polyphase
correlations are minimal, and achieve the Welch-Bound-Equality simult
aneously. Furthermore, we show that at these phases, the average user
interference of these sequences is always smaller than that of the ide
al random signature sequences. Comprehensive analytical and numerical
results show that good phase sequences can offer nonnegligible amount
of gains over bad phase sequences at modest and high signal-to-noise r
atios.