- The definition of a correction is a change that fixes a mistake, or a punishment to correct a fault.
- An example of a correction is changing the answer of 2 + 2 from 5 to 4.
- An example of a correction is sending someone to jail for stealing.
correction definition by Webster's New World
- a correcting or being corrected
- a change that corrects a mistake; change from wrong to right, or from abnormal to normal; emendation; rectification
- the amount of change made in correcting
- punishment or scolding to correct faults
- punishment and rehabilitation within a prison system
- Finance a brief, temporary reversal in the trend of prices in a financial market, esp. a short-term decline following, or in the midst of, a long-term rise in prices
Origin: Middle English correccion ; from Old French correction ; from Classical Latin correctio
- correctional adjective
correction definition by American Heritage Dictionary
- The act or process of correcting.
- Something offered or substituted for a mistake or fault: made corrections in the report.
- a. Punishment intended to rehabilitate or improve.b. corrections The treatment of offenders through a system of penal incarceration, rehabilitation, probation, and parole, or the administrative system by which these are effectuated.
- An amount or quantity added or subtracted in order to correct.
- A decline in stock-market activity or prices following a period of increases.
- cor·recˈtion·al adjective
correction - Business Definition
correction - Investment & Finance Definition
The movement of a stock or market to lower levels (often 10 percent or more) after the market or stock has been at unrealistically high levels. Gains from the too-high period are erased. Although a market may correct, it doesn’t necessarily mean that the long-term upward trend is broken. While the term is usually applied to falling markets, it is possible to have an upward correction that breaks a downward trend. In technical analysis, a correction is a short-term movement, either up or down, that is contrary to the dominant price trend.
However, correction often is used in a more generic sense to refer to a market that has fallen, regardless of the principles of technical analysis.