The relationships between subjective cognitive dysfunction (so-called `basic symptoms') and some psychophysiological measures were examined repeatedly in schizophrenic and schizoaffective patients during an acute psychotic episode, and comparisons were made with psychotic symptom ratings. Psychophysiological variables were quality of eye tracking, amplitude measures of the contingent negative variation, and reaction time. Ratings of psychotic and basic symptoms were significantly correlated, but only the basis symptom score showed significant associations with eye tracking, contingent negative variation and reaction time. Although this pattern was confined to the recovery phase of the psychotic episode, these results suggest that the core psychopathological correlates of these psychophysiological measures consist of basic symptoms rather than florid psychotic symptoms.