Multimedia content usage is on the rise and hence, it is becoming increasingly necessary to automatically analyze the multimedia content in order enhance the effective applicability and usage of the content. The richness of a multimedia content demands multi-fold analysis of the content and further, this richness also leads to openness and vastness. Hence, the outcome of the multiple analyses techniques needs to be carefully analyzed in order to avoid limited or inconsistent content description. A system and method for bounded analysis of multimedia using multiple correlations addresses the issues related to richness and vastness of a multimedia content to enable describing of the multimedia content in a maximally consistent manner. Such a content description is very useful in the semantic characterization of multimedia.