The role of intramolecular motions in ligand-macromolecule interactions has been explored by developing and validating ALPHA, a novel QSAR (quantitative structure-activity relationship) descriptor. It is based on the spectral exponents (alpha), which measure the degree of 1/f alpha noise of coordinate fluctuations in molecular dynamics (MD) simulations. ALPHA is the first truly 'dynamic' QSAR descriptor, i.e., it can be derived directly from an MD trajectory. The performance of ALPHA was tested in detail employing the CBG (corticosteroid binding globulin) affinity of 31 benchmark steroids, supplemented with 11 steroids as an external test set. The only fair (42-50%) correlations of ALPHA with static 3D and electronic descriptors mean that ALPHA forms an independent molecular property. Furthermore, inclusion of ALPHA in the SOMFA/ESP model improves the correlation coefficient from 0.86 to 0.91, and /delta/ave from 0.46 to 0.36 for the benchmark dataset. The predictive ability of ALPHA can be interpreted as indirect evidence of the dynamic contribution to ligand-macromolecule interactions. The physical background of ALPHA is discussed and the importance of molecular motions for biological activity is anticipated.