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The main contribution of our work consists in developing for the first time a method of estimating the direction of arrival (DOA) parameters assuming noncircular and temporally and spatially correlated signals. This new approach, based on a significant enhancement of the two-sided instrumental variable signal subspace fitting (IV-SSF) method, outperforms its classical version in terms of lower bias and error variance. Moreover, it will be shown that our new method is statistically more efficient than the MODE method especially in the case of partly and fully coherent signals where only the extended and the classical two-sided IV-SSF methods are applicable. We also derive an explicit expression for the stochastic Cramér-Rao bound (CRB) of the DOA estimates from temporally and spatially correlated signals generated from noncircular sources. The new CRB is compared to those of circular temporally correlated and noncircular independent and identically distributed signals to show that the CRB obtained assuming both noncircular sources and temporally correlated signals is lower than the CRBs derived considering only one of these two assumptions. This illustrates the potential gain that both noncircularity and temporal correlation provide when considered together. It will also be proven that the difference between the three CRBs increases with the number of snapshots. However, as the signal-to-noise ratio (SNR) increases, the CRBs merge together and decrease linearly. Moreover, at low SNR values it will be shown that temporal correlation is more informative about the unknown DOA parameters than noncircularity. Finally, the CRB derived assuming noncircular and temporally correlated signals depends on the noncircularity rate, the circularity phase separation, and the DOA separation.