  We analyzed the rapid aperiodic X-ray variability of the recently discovered
millisecond X-ray pulsar SAX J1808.4-3658. The power density spectrum is
dominated by a strong band-limited noise component, which follows a power-law
with index 1.0-1.3 at high frequencies with a break that varies between 0.25
and 1.6 Hz, below which the spectrum is relatively flat. Superimposed on this,
a broad bump is present with a centroid frequency that varies well correlated
with the break frequency between 2.4 and 12.0 Hz. These characteristics are
very similar to what is commonly seen in other low-luminosity low-mass X-ray
binaries. Between 100 and 400 Hz a third broad noise component is present
similar to that recently reported in the low-luminosity low-mass X-ray binary
4U 1728-34 (Ford & van der Klis 1998). We find a similar high-frequency noise
component also in other low-luminosity neutron star systems. We conclude that
at any given epoch the rapid aperiodic X-ray variability of the millisecond
X-ray pulsar is indistinguishable from that of other low-luminosity neutron
star systems.
  However, contrary to what has been found in those sources the break frequency
of the band-limited noise does not have a strict correlation with mass
accretion rate. With decreasing mass accretion rate, the break frequency first
decreased, then increased again. This previously unobserved behavior could be
typical for the very low mass accretion rates we observe near the end of the
outburst of SAX J1808.4-3658, or it could be related to it being a pulsar.
