1. A computer program product comprising a computer useable medium having a computer readable program, wherein the computer readable program when executed on a computer causes the computer to: configure a calling interceptor at a service invocation point corresponding to a first component service of a software application to monitor a service invocation made by the first component service of a second component service of the software application, record a first set of correlation data represented by a first correlation indicator into a trace file, record a unique identifier into the trace file, and send the unique identifier to the second component service through the service invocation; configure a callee interceptor at a service invocation point corresponding to a second component service of the software application to monitor the service invocation made by the first component service of the second component service of the software application, record a second set of correlation data represented by a second correlation indicator into the trace file, obtain the unique identifier from the service invocation, and record the unique identifier into the trace file; and correlate trace data from the first component service and the second component service based on the first correlation indicator, the second correlation indicator, and the unique identifier.