Error vector magnitude (EVM) is one of the widely accepted figure of merits used to evaluate the quality of communication systems. In the literature, EVM has been related to signal-to-noise ratio (SNR) for data-aided receivers, where preamble sequences or pilots are used to measure the EVM, or under the assumption of high SNR values. In this paper, this relation is examined for nondata-aided receivers and is shown to perform poorly, especially for low SNR values or high modulation orders. The EVM for nondata-aided receivers is then evaluated and its value is related to the SNR for quadrature amplitude modulation (QAM) and pulse amplitude modulation (PAM) signals over additive white Gaussian noise (AWGN) channels and Rayleigh fading channels, and for systems with IQ imbalances. The results show that derived equations can be used to reliably estimate SNR values using EVM measurements that are made based on detected data symbols. Thus, presented work can be quite useful for measurement devices such as vector signal analyzers (VSA), where EVM measurements are readily available.