The dynamics of movements of biological cells can be described with models from correlated stochastic processes. In order to overcome problems from correlated and insufficient data in the determination of the model parameters of such processes we employ the covariance matrix of the data. Since the covariance suffers itself from statistical uncertainty it is corrected by a renormalization treatment [1]. For the example of normal and fractional Brownian motion, which allows both to access all quantities on full theoretical grounds and to generate data similar to experiment, we discuss our results and those of previous works by Gregory [2] and Sivia [3]. The presented approach has the potential to estimate the aging correlation function of observed cell paths and can be applied to more complicated models.