Statistical characteristics of Rician and Nakagami-m fading channel are considered which develops the statistical analysis to characterize the frequency-selective fading properties. We use a new analytical multipath shape factors proposed by Durgin which greatly simplifies the description of Rician and Nakagami-m fading channel. The three shape factors are angular spread, angular constriction and azimuthal direction of maximum fading. The first-order and second-order statistics of received signal fluctuations in Rician and Nakagami-m multipath fading channel are analyzed. Analytical expressions for spatial unit autocovariance and coherence distance are both used in the shape factor theory.