This paper develops new analytical process noise covariance models for both absolute and relative spacecraft states. Process noise is always present when propagating a spacecraft state due to dynamics modeling deficiencies. Accurately modeling this noise is essential for sequential orbit determination and improves satellite conjunction analysis. A common approach called state noise compensation models process noise as zero-mean Gaussian white noise accelerations. The resulting process noise covariance can be evaluated numerically, which is computationally intensive, or through a widely used analytical model that is restricted to an absolute Cartesian state and small propagation intervals. Moreover, mathematically rigorous, analytical process noise covariance models for relative spacecraft states are not currently available. To address these limitations of the state of the art, new analytical process noise covariance models are developed for state noise compensation for both Cartesian and orbital element absolute state representations by leveraging spacecraft relative dynamics models. Two frameworks are then presented for modeling the process noise covariance of relative spacecraft states by assuming either small or large interspacecraft separation. The presented techniques are validated through numerical simulations.