Method and apparatus for quantitative and qualitative determination of heart rate, stroke volume, cardiac output, and central fluid volume. Phonocardiography based technique using multiple transducers and multi-sensor processing algorithms provides a non-invasive method of evaluating the output of the heart. This basic system coupled with additional sensor elements provides a wide range of potential capabilities. A system comprising these techniques in a wearable form provides a non-invasive method of determining hydration status and blood volume status. Phonocardiography augmented with multi-sensor signal processing techniques improves signal quality to analyze heart sounds and associated features (e.g. S1 and S2, amongst others). Noise compensation and cancellation techniques for phonocardiography further improve signal to noise ratio to reject external disturbances.