Many-body localization is a fascinating theoretical concept describing the intricate interplay of quantum interference, i.e. localization, with many-body interaction induced dephasing. Numerous computational tests and also several experiments have been put forward to support the basic concept. Typically, averages of time-dependent global observables have been considered, such as the charge imbalance. We here investigate within the disordered spin-less Hubbard ($t-V$) model how dephasing manifests in time dependent variances of observables. We find that after quenching a Neel state the local charge density exhibits strong temporal fluctuations with a damping that is sensitive to disorder $W$: variances decay in a power law manner, $t^{-zeta}$, with an exponent $zeta(W)$ strongly varying with $W$. A heuristic argument suggests the form, $zetaapproxalpha(W)xi_text{sp}$, where $xi_text{sp}(W)$ denotes the noninteracting localization length and $alpha(W)$ characterizes the multifractal structure of the dynamically active volume fraction of the many-body Hilbert space. In order to elucidate correlations underlying the damping mechanism, exact computations are compared with results from the time-dependent Hartree-Fock approximation. Implications for experimentally relevant observables, such as the imbalance, will be discussed.
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