In this paper we focus on the behavior of the token leaky bucket mechanism with respect to second-order statistics of the departure process under various correlated cell arrival and deterministic token arrival distributions. We derive expressions for the lag-k auto-correlation of the inter-departure times for the token leaky bucket cell departure stream and we produce numerical examples for the lag-k auto-correlation of the token leaky bucket inter-departure times for several different cell arrival distributions exhibiting both positive and negative autocorrelations. Keywords Leaky bucket, correlation, departure process, traffic shaping, semi-Markov Process, linear algebra queueing theory, second-order statistics