1. A method for estimating a statistical property of noise in a modulated data carrier signal represented by modulated data symbols, the method comprising: estimating constellation points from the modulated data carrier signal; generating an instantaneous estimate of the statistical property of noise on a sample by sample basis based on a difference between the modulated data carrier signal and the estimated constellation points; applying a compensation function to the instantaneous estimate by multiplying a square of the instantaneous estimate with a value selected from a look-up-table (LUT) to generate an output of the compensation function output; and averaging the output of the compensation function to determine the estimated statistical property of noise.