Double modulation of a magnetoresistive sensor entails modulating both an excitation (e.g., voltage or current) applied to the sensor and a tickling magnetic field applied to the sensor. The excitation and magnetic field are modulated at different frequencies fc and ff, respectively. As a result of the double modulation, the sensor output spectrum includes a carrier tone (CT) at frequency fc and side tones (STs) at frequencies fc±ff. A baseline relation between CT amplitude and ST amplitude is determined (e.g., by measuring CT and ST amplitude while drift occurs in the absence of a sample). During sensor operation, raw ST measurements are corrected using corresponding raw CT measurements to provide corrected ST measurements as the sensor output.