Delay analysis performed on a circuit having multiple parallel partial circuits (paths) involves recursively integrating two paths of the circuit using an all-element delay distribution that indicates delay based on performance of all circuit elements in a path and a correlation delay distribution that indicates delay based on correlation between circuit elements in the path. An all-element delay distribution is calculated for the integrated path using the all-element delay distributions of the two paths to be integrated. The all-element delay distributions and the correlation delay distributions of two paths to be integrated are used to calculate a total delay distribution for the integrated path. The total delay distribution is used with the all-element delay distribution for the integrated path to calculate a correlation delay distribution for the integrated path. Through recursive calculation, a delay distribution of the circuit is estimated.