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The quality of polarimetric radar data degrades as the signal-to-noise ratio (SNR) decreases. This substantially limits the usage of collected polarimetric radar data to high SNR regions. To improve data quality at low SNRs, multilag correlation estimators are introduced. The performance of the multilag estimators for spectral moments and polarimetric parameters is examined through a theoretical analysis and by the use of simulated data. The biases and standard deviations of the estimates are calculated and compared with those estimates obtained using the conventional method.