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Time series data of 10.7 cm solar flux for one solar cycle (1985–1995 years) was processed through autocorrelation. Rotation modulation with varying persistence and period was quite evident. The persistence of modulation seems to have no relation with sunspot numbers. The persistence of modulation is more noticeable during 1985–1986, 1989–1990, and 1990–1991. In other years the modulation is seen, but its persistence is less. The sidereal rotation period varies from 24.07 days to 26.44 days with no systematic relation with sunspot numbers. The results indicate that the solar corona rotates slightly faster than photospheric features. The solar flux was split into two parts, i.e., background emission which remains unaffected by solar rotation and the localized emission which produces the observed rotational modulation. Both these parts show a direct relation with the sunspot numbers. The magnitude of localized emission almost diminishes during the period of low sunspot number, whereas background emission remains at a 33% level even when almost no sunspots may be present. The localized regions appear to shift on the solar surface in heliolongitudes.