The near end crosstalk (NEXT) model proposed by Cravis and Crater [1] is analyzed to give the covariance of NEXT, with good agreement between theory and measurements on multipair cable. The covariance of NEXT is then used to estimate the variance of the mean-square NEXT interference between PCM systems operating under the same cable sheath. These results are used to derive the required minimum mean NEXT loss μo as a function of the number of PCM systems N, the NEXT loss standard deviation a, and pertinent PCM system parameters. Comparisons with the minimum mean NEXT loss proposed in [4] and [5], μ0”, and that proposed in [1], μo”’, show that: -0.4 < μo” - μo< 2 dB, for 1 < N< 500 and 6 < a < 14, while -16 < ‘μo” ‘ -μo < 6 dB, for 25 < N < 500 and 6 < a < 14, for all pertinent PCM system parameters. Copyright © 1979 by The Institute of Electrical and Electronics Engineers, Inc.