The fish-eye lens camera has the advantage of efficient acquisition of image data through a wide field of view. However, unlike the perspective projection camera, a strong geometric distortion effect appears in the image. Such characteristics must be precisely analyzed through self-calibration to determine the interior characteristics of the camera. The reliability of the derived camera parameters is highly affected by the correlation between orientation parameters. However, a detailed analysis of the correlation between the orientation parameters of the fish-eye lens is insufficient. In this research, we compared the correlation tendency while considering different types of test beds and projection models. As the shape of the test bed changed, the correlation of the perspective projection and fish-eye lens cameras showed a distinctly different tendency. On the basis of the results of correlation analysis, guidelines for acquiring reliable interior orientation parameters (IOPs) and exterior orientation parameters (EOPs) of a camera were provided.