A correlation method for measuring total and fractional flow rates of multiphase immiscible media comprises identifying two control sections along the multiphase flow, and scanning each control section so as to measure fluctuations in the dielectric flow characteristics in each section, the scanning signals for each section comprising rotating high-frequency electric and magnetic fields with one common carrier frequency. The received scanning signals are independently processed so as to identify the peak amplitude-frequency and gain-phase characteristics of the signals, and the results of all measurements are used for calculating the correlation functions. The scanning signals generated by the rotating high-frequency electric field are amplified by means of a normalizing scale factor, and all four scanning signals are additionally processed by a microprocessor. Total and factional flow rates are determined by comparing the measured characteristics with reference characteristics stored in a database. The method disclosed is useful in the oil-producing and oil-processing industries, particularly for evaluation of oil well production rates.