We conduct an asymptotic risk analysis of the nonlocal means image denoising algorithm for the Horizon class of images that are piecewise constant with a sharp edge discontinuity. We prove that the mean square risk of an optimally tuned nonlocal means algorithm decays according to , for an -pixel image with . This decay rate is an improvement over some of the predecessors of this algorithm, including the linear convolution filter, median filter, and the SUSAN filter, each of which provides a rate of only . It is also within a logarithmic factor from optimally tuned wavelet thresholding. However, it is still substantially lower than the the optimal minimax rate of .
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