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Different performance measures are an important mean in order to analyze and design wireless communications systems. Examples of common performance measures are the ergodic capacity, the outage capacity, and the average mean-square error (MSE). In this work, we study the delay-limited capacity (DLC). The DLC depends on the properties of the fading channel, e.g. on the spatial correlation and on the line-of-sight (LOS) component. In this letter, we derive the DLC for the general class of parallel fading channels, including the multiple antenna channels under moment and long-term power constraint. We prove that the DLC is Schur-concave with respect to the spatial correlation in single-input multiple-output (SIMO), and multiple-input single-output (MISO). Bounds for the DLC of multiple-input multiple-output (MIMO) and parallel fading channels are derived and the impact of the the mean component and spatial correlation on these bounds is characterized.