The asymptotic standard deviation (SD) of the alpha coefficient with standardized variables is derived under normality. The research shows that the SD of the standardized alpha coefficient becomes smaller as the number of examinees and/or items increase. Furthermore, this research shows that the degree of the dependence of the SD on the number of items is a function of the average correlation coefficient. When the average correlation approaches 1, the SD of the alpha coefficient decreases rapidly as the number of items increase, with the order of the number of items. On the other hand, when the items are only weakly correlated, increasing the number of items decreases the SD of the alpha coefficient at a much slower rate.