A statistical model is used to determine how stochastic fluctuations in the intensities of orthogonal polarization modes contribute to the modulation and depolarization of pulsar radio emission. General expressions for the distributions of the Stokes parameters, linear polarization, polarization position angle, and fractional polarization are derived when the mode intensities follow the same or different probability distributions. The transition between modes is examined. When the mode intensities follow the same distribution, the fractional linear polarization and modulation index are symmetric about the transition. The symmetry is disrupted when the mode intensities follow different distributions. The fractional linear polarization is minimum and the mode frequency of occurrence changes rapidly at transitions where the mode intensity distributions are the same and the modulation index is small. A lower limit on the fractional linear polarization that can be attained via the simultaneous occurrence of the modes as a function of modulation index is quantified.
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