This is correct, but just want to add that many may interpret this as a positive sign, it is not necessarily. In many cases, binding antibodies increase cell infectivity. Also, there is some research that indicates the presence of non-neutralizing antibodies without the corresponding neutralizing antibodies and humoral response may be a factor in the development of antibody dependent enhancement. As far as we know, it is the neutralization potency that strongly correlates with disease severity.
