Limitations of the $\Phi$ measure of fluctuations in event-by-event analysis

Abstract

We provide a critical overview of the $\Phi$ measure of fluctuations and correlations. In particular we show that its discriminating power is rather limited in situations encountered in experiment.

Comments: LaTex file, 3 eps files with figures and psfig.sty file; 12 pages altogether; corrected version (with changed title); to be published in Phys. Rev. C