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A correction is characterised as a decrease in value of more than 10% but less than 20%.
A correction is described as a drop of 10% to 20% in value over a independent set period of time. It could last anywhere from a few days to a few months in most cases. It could, however, go on for a while longer.
Individual stocks, securities, and indices can all be defined by “corrections.”
The real meaning of the word ‘correction’ is not well known. It is very popular for investors to use the terms “correction” and “crash” and “recession” interchangeably.