Spectral correlation theory for cyclostationary time-series signals has been studied for decades. Explicit formulas of spectral correlation function for various types of analog-modulated and digital-modulated signals are already derived. In this paper, we investigate and exploit the cyclostationarity characteristics for two kinds of multicarrier modulated (MCM) signals: conventional OFDM and filter bank based multicarrier (FBMC) signals. The spectral correlation characterization of MCM signal can be described by a special linear periodic time-variant (LPTV) system. Using this LPTV description, we have derived the explicit theoretical formulas of nonconjugate and conjugate cyclic autocorrelation function (CAF) and spectral correlation function (SCF) for OFDM and FBMC signals. According to theoretical spectral analysis, Cyclostationary Signatures (CS) are artificially embedded into MCM signal and a low-complexity signature detector is, therefore, presented for detecting MCM signal. Theoretical analysis and simulation results demonstrate the efficiency and robustness of this CS detector compared to traditionary energy detector.