  In this work we present data characterizing the sensitivity of the
Bir\'{e}fringence Magnetique du Vide (BMV) instrument. BMV is an experiment
attempting to measure vacuum magnetic birefringence (VMB) via the measurement
of an ellipticity induced in a linearly polarized laser field propagating
through a birefringent region of vacuum in the presence of an external magnetic
field. Correlated measurements of laser noise alongside the measurement in the
main detection channel allow us to separate measured sensing noise from the
inherent birefringence noise of the apparatus. To this end we model different
sources of sensing noise for cavity-enhanced polarimetry experiments, such as
BMV. Our goal is to determine the main sources of noise, clarifying the
limiting factors of such an apparatus. We find our noise models are compatible
with the measured sensitivity of BMV. In this context we compare the phase
sensitivity of separate-arm interferometers to that of a polarimetry apparatus
for the discussion of current and future VMB measurements.
