According to embodiments, techniques for using continuous wavelet transforms and spectral transforms to determine oxygen saturation from photoplethysmographic (PPG) signals are disclosed. According to embodiments, a first and a second PPG signals may be received. A spectral transform of the first and the second PPG signals may be performed to produce a first and a second spectral transformed signals. A frequency region associated with a pulse rate of the PPG signals may be identified from the first and the second spectral transformed signals. According to embodiments, a continuous wavelet transform of the first and the second PPG signals may be performed at a scale corresponding to the identified frequency region to produce a first and a second wavelet transformed signals. The oxygen saturation may be determined based at least in part upon the wavelet transformed signals.