Following recent experiments on power law blinking behavior of single nanocrystals, we calculate two-time intensity correlation functions I(t)I(t+t') for these systems. We use a simple two state (on and off) stochastic model to describe the dynamics. We classify possible behaviors of the correlation function and show that aging, e.g., dependence of the correlation function on age of process t, is obtained for classes of the on time and off time distributions relevant to experimental situation. Analytical asymptotic scaling behaviors of the intensity correlation in the double time t and t' domain are obtained. In the scaling limit I(t)I(t+t('))-->h(x), where four classes of behaviors are found: (i) finite averaged on and off times x=t' (standard behavior); (ii) on and off times with identical power law behaviors x=t/t' (case relevant for capped nanocrystals); (iii) exponential on times and power law off times x=tt' (case relevant for uncapped nanocrystals); (iv) for defected off time distribution we also find x=t+t'. Origin of aging behavior is explained based on simple diffusion model. We argue that the diffusion controlled reaction A+B <==>AB, when followed on a single particle level exhibits aging behavior.