Correlation radiometers make true differential measurements in power with high accuracy and small systematic errors. This receiver architecture has been used in radio astronomy for measurements of continuum radiation for over 50 years; this article examines spectroscopy over broad bandwidths using correlation techniques. After general discussions of correlation and the choice of hybrid phase, experimental results from tests with a simple laboratory multi-channel correlation radiometer are shown. Analysis of the effect of the input hybrids phase shows that a 90 degree hybrid is likely to be the best general choice for radio astronomy, depending on its amplitude match and phase flatness with frequency. The laboratory results verify that the combination of the correlation architecture and an analog lag correlator is an excellent method for spectroscopy over very wide bandwidths.