Unexpected relations between fidelity decay and cross form--factor, i.e., parametric level correlations in the time domain are found both by a heuristic argument and by comparing exact results, using supersymmetry techniques, in the framework of random matrix theory. A power law decay near Heisenberg time, as a function of the relevant parameter, is shown to be at the root of revivals recently discovered for fidelity decay. For cross form--factors the revivals are illustrated by a numerical study of a multiply kicked Ising spin chain.