Normalized cross-correlation is an important mathematical tool in digital signal processing. This paper presents a new algorithm and its systolic structure for digital normalized cross-correlation, based on the statistical characteristic of inner-product. We first introduce a relationship between the inner-product in cross-correlation and a first-order moment. Then digital normalized cross-correlation is transformed into a new calculation formula that mainly includes a first-order moment. Finally, by using a fast algorithm for first-order moment, we can compute the first-order moment in this new formula rapidly, and thus develop a fast algorithm for normalized cross-correlation, which contributes to that arbitrary-length digital normalized cross-correlation being performed by a simple procedure and less multiplications. Furthermore, as the algorithm for the first-order moment can be implemented by systolic structure, we design a systolic array for normalized cross-correlation with a seldom multiplier, in order for its fast hardware implementation. The proposed algorithm and systolic array are also improved for reducing their addition complexity. The comparisons with some algorithms and structures have shown the performance of the proposed method.