We study in detail a system of two interferometers aimed at detecting extremely faint phase fluctuations. This system can represent a breakthrough for detecting a faint correlated signal that would remain otherwise undetectable even using the most sensitive individual interferometric devices, as in the case of so-called holographic noise. The signature of this kind of noise emerges as a correlation between the output signals of the interferometers. On the other hand, when holographic noise is absent one expects uncorrelated signals since the time-averaged fluctuations due to shot noise and other independent contributions vanish (though limiting the overall sensitivity). We show how injecting quantum light in the free ports of the interferometers can reduce the photon noise of the system beyond the shot noise, enhancing the resolution in the phase-correlation estimation. We analyze the use of both the two-mode squeezed vacuum and two independent squeezed states. Our results confirm the benefit of using squeezed beams together with strong coherent beams in interferometry. We also investigate the possible use of the two-mode squeezed vacuum, discovering interesting and unexplored areas of application of bipartite entanglement, in particular the possibility of reaching in principle a surprising uncertainty reduction.