We derive an approximation to the intensity covariance function of two scanning pinhole detectors, facing a distant source (e.g., a star) being occluded partially by an absorptive object (e.g., a planet). We focus on using this technique to identify or image an object that is in the line-of-sight between a well-characterized source and the detectors. We derive the observed perturbation to the intensity covariance map due to the object, showing that under some reasonable approximations it is proportional to the real part of the Fourier transform of the source’s photon-flux density times the Fourier transform of the object’s intensity absorption. We highlight the key parameters impacting its visibility and discuss the requirements for estimating object-related parameters, e.g., its size, velocity or shape. We consider an application of this result to determining the orbit inclination of an exoplanet orbiting a distant star. Finally, motivated by the intrinsically weak nature of the signature, we study its signal-to-noise ratio and determine the impact of system parameters.