The capacity of spread spectrum systems is dependent on the pseudorandom sequences used in such systems—primarily upon their correlation properties. Therefore, much research has been conducted on pseudorandom sequences used in spread spectrum systems, e.g., [7]. With the growing complexity of these new systems, more sets of sequences need to be evaluated for their suitability in new applications, such as multi-rate code-division multiple access (CDMA) systems. Hence there is still a need for further study of these sequences. In our work, the performance of pseudo random sequences used in 3rd generation spread spectrum systems has been analyzed statistically using auto and cross correlation properties of the sequences. The effect of pulse shaped filtering on the correlation properties has also been characterized. Our findings indicate that the various sequence sets are nearly statistically equivalent in terms of correlations, but that substantial improvements can be made by careful selection of subsets of the large sequence sets.