Current methods for evaluating fatigue separately assess intramuscular changes in individual muscles from corresponding alterations in movement output. The purpose of this study is to investigate if a system-based monitoring paradigm, which quantifies how the dynamic relationship between the activity from multiple muscles and force changes over time, produces a viable metric for assessing fatigue. Improvements made to the paradigm to facilitate online fatigue assessment are also discussed. Eight participants performed a static elbow extension task until exhaustion, while surface electromyography (sEMG) and force data were recorded. A dynamic time-series model mapped instantaneous features extracted from sEMG signals of multiple synergistic muscles to extension force. A metric, called the Freshness Similarity Index (FSI), was calculated using statistical analysis of modeling errors to reveal time-dependent changes in the dynamic model indicative of performance degradation. The FSI revealed strong, significant within-individual associations with two well-accepted measures of fatigue, maximum voluntary contraction (MVC) force () and ratings of perceived exertion (RPE) (), substantiating the viability of a system-based monitoring paradigm for assessing fatigue. These findings provide the first direct and quantitative link between a system-based performance degradation metric and traditional measures of fatigue.