There is provided a method and an apparatus for determining quality parameters on a polarization-multiplexed optical signal based on an analysis of the power spectral density of the Signal-Under-Test (SUT). The method is predicated upon knowledge of the spectral shape of the signal in the absence of significant noise or spectral deformation. This knowledge is provided by a reference optical spectrum trace. Based on this knowledge and under the assumption that ASE noise level is approximately constant in wavelength over a given spectral range, the spectral deformation of the signal contribution of the SUT may be estimated using a comparison of the spectral variations of the optical spectrum trace of the SUT with that of the reference optical spectrum trace.