Quantum trajectories, originating from the de Broglie-Bohm hydrodynamic description of quantum mechanics, are used to construct time-correlation functions in an initial value representation. The formulation is fully quantum mechanical and the resulting equations for the correlation functions are similar in form to their semiclassical analogs but do not require the computation of the stability or monodromy matrix or conjugate points. We then move to a local trajectory description by evolving the cumulants of the wave function along each individual path. The resulting equations of motion are an infinite hierarchy, which we truncate at a given order. We show that time-correlation functions computed using these approximate quantum trajectories can be used to accurately compute the eigenvalue spectrum for various potential systems. (C) 2003 American Institute of Physics.