Decorrelation noise limits the ability of phase-resolved Doppler optical coherence tomography systems to detect smaller vessels exhibiting slower flow velocities, which limits the utility of the technique in many clinical and biological settings. An understanding of the statistical properties of decorrelation noise can aid in the optimal design of these systems and guide the development of noise mitigating strategies. In this work, the statistical properties of decorrelation noise are derived from the underlying statistics of the coherent imaging system and validated through comparison with empirical results and Monte Carlo modeling. Expressions for the noise distribution and the noise variance as a function of relevant imaging system parameters are given, and the implications of these results on both system and algorithm design are discussed.