The scaling of the magnetic and velocity fluctuations with Lundquist number (S) is examined experimentally over a range of values from 7ϫ10 4 to 10 6 in a reversed-field pinch ͑RFP͒ plasma. Magnetic fluctuations do not scale uniquely with the Lundquist number. At high ͑relative͒ density, fluctuations scale as bϰS Ϫ0.18 , in agreement with recent numerical results. Fluctuations are almost independent of S at low ͑relative͒ density, bϰS Ϫ0.07. The range of measured exponents is narrow and is in clear disagreement with theories predicting bϰS Ϫ1/2. At high relative density, the scaling of the energy confinement time follows expectations for transport in a stochastic magnetic field. A confinement scaling law (n E ϰ 4/5 •T Ϫ7/10 •a Ϫ3/5 •I 2) is derived, assuming the persistent dominance of stochastic magnetic diffusion in the RFP and employing the measured scaling of magnetic fluctuations. The peak velocity fluctuations during a sawtooth cycle scale marginally stronger than magnetic fluctuations but weaker than a simple Ohm's law prediction. The sawtooth period is determined by a resistive-Alfvénic hybrid time (T saw ϰͱ R A ͒ rather than a purely resistive time.