Biases in the estimators of the variance and intercycle covariances in Monte Carlo eigenvalue calculations are analyzed. The relations among the “real” and “apparent” values of variances and intercycle covariances are derived, where real refers to a true value that is calculated from independently repeated Monte Carlo runs and apparent refers to the expected value of estimates from a single Monte Carlo run. Next, iterative methods based on the foregoing relations are proposed to estimate the standard deviation of the eigenvalue. The methods work well for the cases in which the ratios of the real to apparent values of variances are between 1.4 and 3.1. Even in the case where the foregoing ratio is >5, >70% of the standard deviation estimates fall within 40% from the true value.