A new technique, based on the noise analysis of neutron detector and core-exit coolant temperature signals, is developed for monitoring the moderator temperature coefficient of reactivity in pressurized water reactors (PWRs). A detailed multinodal model is developed and evaluated for the reactor core subsystem of the loss-of-fluid test (LOFT) reactor. This model is used to study the effect of changing the sign of the moderator temperature coefficient of reactivity on the low-frequency phase angle relationship between the neutron detector and the core-exit temperature noise signals. Results show that the phase angle near zero frequency approaches -180 deg for negative coefficients and 0 deg for positive coefficients when the perturbation source for the noise signals is core coolant flow, inlet coolant temperature, or random heat transfer. Operational data from the LOFT reactor and two different commercial PWRs all show -180-deg phase lag at zero frequency. Furthermore, both the model study and data analysis indicate that the dominant noise perturbation source in the LOFT reactor is the core coolant flow fluctuations.