
The ratio between Carrier and Modulator can help predict the output spectrum

and importantly the perceived fundamental for harmonic spectra

Upper sidebands

C+M C+2M C+3M C+4M C+5M

Lower sidebands

C-M C-2M C-3M C-4M C-5M

Negative numbers mean phase inversion

Frequency of 0 means DC offset

For the carrier to be the fundamental M > 2C or ratio 1:1

B. Truax, "Organizational Techniques for C:M Ratios in Frequency Modulation", Computer Music Journal, 1(4), 1978, pp. 39-45; reprinted in Foundations of Computer Music, C. Roads and J. Strawn (eds.). MIT Press, 1985