An analysis device that analyzes a target component which is contained in a sample containing one or a plurality of interference components, comprising: a light source that emits modulated light whose wavelength is modulated using a predetermined modulation frequency; a photodetector that detects an intensity of sample light obtained when the modulated light is transmitted through the sample; a logarithmic operation unit that performs a logarithmic operation on light intensity signals obtained by the photodetector, a correlation value calculation unit that calculates sample correlation values which are correlation values between intensity-related signals corresponding to the detected intensity of the sample light having been transformed by the logarithmic operation and predetermined feature signals; and a concentration calculation unit that calculates a concentration of the target component using the sample correlation values obtained by the correlation value calculation unit, wherein the feature signals are signals that are used to extract a waveform feature of the intensity-related signals, and are sinusoidal wave signals or other signals matched to waveform features that have been extracted from the intensity-related signals, and DC components have been removed from at least one of the feature signals or the intensity related signals, the correlation value calculation unit calculates a plurality of sample correlation values using a number of feature signals that is equal to or greater than a number obtained by combining the number of types of target components with the number of types of interference components, and the concentration calculation unit, using the plurality of sample correlation values obtained by the correlation value calculation unit, calculates the concentration of the target component from which interference effects have been removed. a light source that emits modulated light whose wavelength is modulated using a predetermined modulation frequency; a photodetector that detects an intensity of sample light obtained when the modulated light is transmitted through the sample; a logarithmic operation unit that performs a logarithmic operation on light intensity signals obtained by the photodetector, a correlation value calculation unit that calculates sample correlation values which are correlation values between intensity-related signals corresponding to the detected intensity of the sample light having been transformed by the logarithmic operation and predetermined feature signals; and a concentration calculation unit that calculates a concentration of the target component using the sample correlation values obtained by the correlation value calculation unit, wherein the feature signals are signals that are used to extract a waveform feature of the intensity-related signals, and are sinusoidal wave signals or other signals matched to waveform features that have been extracted from the intensity-related signals, and DC components have been removed from at least one of the feature signals or the intensity related signals, the correlation value calculation unit calculates a plurality of sample correlation values using a number of feature signals that is equal to or greater than a number obtained by combining the number of types of target components with the number of types of interference components, and the concentration calculation unit, using the plurality of sample correlation values obtained by the correlation value calculation unit, calculates the concentration of the target component from which interference effects have been removed.