Apply the dispersion relation separately to the two components and subtract:
In the narrow-band limit this is the group velocity, since gives
Equivalently on the positive branch , and its reciprocal is . The factor of two applies to signed velocities on either nonzero propagation branch.
There is a small but useful finite-band qualification. Adding the two component relations gives . Thus the carrier formed by their exact midpoints has phase velocity , and its finite-band envelope-to-carrier velocity ratio is
The exact derivative relation refers to a single central point on the dispersion relation; the two-tone midpoint ratio approaches two as .

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