We perform an analysis of the characteristics of the time-reversal pulse in Rayleigh or Ricean fading channel environments. We verify it by using Monte Carlo simulation. In a time-reversal system, each antenna in the time-reversal array receives signals from the transmitter and reverse the received signal in the time axis and then resend it to the original transmitter. We assume that the channel characteristics varies very slowly and the spatial separation between the antennas is not large. Hence the signals received by each antenna are correlated. In this paper, the effect of the correlation on the time-reversed pulse is examined, which includes the spatial properties of the time-reversal pulse such as the focus size, and spatial power distribution.