This paper characterizes the performance metrics of MU-MIMO systems under Rayleigh fading channels in the presence of both cochannel interference and additive noise with unknown channel state information and known correlation matrices. In the first task, we derive analytical expressions for the cumulative distribution function of the instantaneous signal-to-interference-plus-noise ratio (SINR) for any deterministic beamvectors. As a second task, exact closed-form expressions are derived for the instantaneous capacity, the upper bound on ergodic capacity, and the Gram-Schmidt orthogonalization-based ergodic capacity for similar intra-cell correlation coefficients. Finally, we present the utility of several structured-diagonalization techniques, which can achieve the tractability for the approximate solution of ergodic capacity for both similar as well as different intra-cell correlation matrices. The novelty of this paper is to formulate the received SINR in terms of indefinite quadratic forms, which allows us to use complex residue theory to characterize the system behavior. The analytical expressions obtained closely match simulation results.