Dedicated to Professor Friedrich Beck on the occasion of his 60th birthdayWe generalize Ericson's theory of fluctuations to deep inelastic reactions. Following Ericson we assume that the S-matrix S~(E, l) can be written as a sum of pole terms in the complex energy plane, but the dependence of S~(E, l) on the angular momentum l is assumed to be coherent. Semi-classical approximations for the summation of the angular momenta lead to a simple formula for the energy autocorrelation function. It contains the average width F(1) describing the lifetime z(l) of the intermediate dinudear system and the number Neff of unresolved primary channels. These quantities can be determined from a measurement of the autocorrelation function. PACS: 24.60.Ky; 25.70.Lm in the region of overlapping resonances F. >> D. (1.2) Similar investigations were carried through at the same time by D. Brink and R. Satchler [6], In Eq. (1.1) and (1.2), the quantity fl(a) denotes the set of measured final (initial) quantum numbers, F, and D represent the width of the individual resonances and the average level spacing, resp. The sym-and say (2-3) • F. The average width F can be thought to be the mean value of the individual widths F, of (N) resonances in the interval A : 1 ~+2~