(a) to assess the correlations between forest stand characteristics (viz., basal area, dominant height, and volume) and the reflectance values derived from Landsat 5 TM spectral bands as well as from vegetation indices and (b) to understand how Eucalyptus sp. stand age influences these correlations. Sampling data comprised a set of 35 permanent plots from a forest inventory conducted annually between 2006 and 2011. Spectral data were derived from Landsat 5 TM images. The results showed that TM4 and TM5 spectral bands, as well as vegetation indices ND54 and TM5/4, were better correlated with basal area and volume, while the TM2 spectral band was better correlated with dominant height. Eucalyptus sp. stand age directly influenced the correlations between spectral data and forest stand characteristics, and could not be disregarded in the spectral characterization of the forest variables.
