We develop new expressions for power fading and average power fading that are induced by first-order polarization mode dispersion, polarization-dependent chromatic dispersion, chromatic dispersion, and chirp under both (i) carrier suppressed modulation and (ii) odd-order optical sideband and carrier suppression. Experimental results show the effectiveness of the theoretical analysis. Further, based on the expressions, we propose a technique for optically compensating the polarization mode dispersion-induced power fading in carrier suppressed modulation.