A novel technique for correlation of spectrally encoded data is presented. Data encoded in the spectrum of ultrafast optical pulses is mapped into the time domain using dispersion and then mixed with a spectrally engineered broadband pump using four wave mixing to create a narrow bandwidth idler, which is isolated and electronically integrated. Unlike previous methods, this solution provides all-optical functionality at every stage of correlation. The demonstrated frame rate of 20 MHz is limited only by the laser repetition rate.