We present the first results from applying the wavelet correlation analysis to study physical properties of near top marine sediments. This technique applied to the synthetic and field data yields well resolved group velocity dispersion curves for the first two shear modes and surface waves. This method can be potentially useful for detecting of different seismic modes at frequencies masked by other neighboring modes. This novel technique is superior to traditional cross-correlation and Fourier analysis for inferring the physical properties of near surface marine sediments, such as density, porosity variations in depth and distance under diverse field conditions.