For a deeper dive into the subject, let me point you to research by my colleague Ben Carlson, who earlier this week discussed times when stock markets fell but a recession didn't follow. He observed that there have been 16 corrections since World War II that didn't lead to a recession. On average, markets fell 19.4 percent during those episodes.
Thus, I leave you with this observation: We don't know if this correction will be modest or significant, a full-blown bear market or worse. Lacking sufficient information to make an informed decision, I only suggest you don’t make wild unsubstantiated guesses with your portfolios.