Visibility V and distinguishability D quantify wave-ray duality: V 2 + D 2 ≤ 1. We join them to polarization P via the Polarization Coherence Theorem, a tight equality:Centuries after Thomas Young's famous double-slit interference experiment [1], quantification of coherence as a contextual resource (see [2]) is just now being examined (see [3,4]), and experimental evidence of polarization coherence in a previously unexplored context has been reported, exposing a new coherence triad [5].The theorem of the title arises from the recognition that polarization is a two-party property, even in common usage. A polarized electorate means two things: (a) opinions within the population favor only a few political factions and (b) this occurs within a specified background (the voting public, but not kindergarten school children). In much the same way in optics a polarized field means that just one or two of the field's intrinsic spin orientations are endowed with substantial field amplitude, so two independent degrees of freedom, spin and amplitude, are well correlated. Here we show how this leads to the new identity we refer to as the Polarization Coherence Theorem (PCT).For simplicity we introduce the PCT in the most familiar context, Young's double-slit scenario as shown in Fig. 1. The combined amplitude of the light field arriving at the screen has a contribution from each of the two slits a and b:Here u a (r ⊥ , z) and u b (r ⊥ , z) are diffractive spatial mode functions unit-normalized and orthogonal in the intervening space from the slits to the screen, and Φ a and Φ b are the corresponding field strengths. They depend on degrees of freedom not identified and here loosely labeled q, such as temporal amplitude, spin (ordinary polarization), etc. By adopting the conventional small-angle and distantscreen treatment of the Young signals, the propagation factors from slits a and b to screen c will be the same in magnitude but differ in phase (which is absorbed into amplitudes Φ a and Φ b ). Then the intensity at the screen is obtained with the expected sinusoidal interference term:with I a = |Φ a | 2 and I b = |Φ b | 2 , and the brackets for averaging are needed if the amplitudes are known only statistically, as is commonly the case.Fringe visibility for field F is given as