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No, not at all... because they're entirely different fundamental processes. Correlation (whether implemented via an FFT, shift-multiply-adds etc) searches for statistical similarities between data sets. Forward error correction involves adding redundant data to a message to improve communication reliability (without requiring a feedback/handshaking protocol). Note that the latter process *may* use a correlation step in decoding corrupted data, but they are intended for different purposes.
The discrete Fourier transform (DFT) is used for error detection and correction. An iterative decoder is proposed for erasure and impulsive noise which also works with moderate amount of additive random noise. The iterative method is very simple and efficient consisting of modules of fast Fourier transforms (FFT) and inverse FFTs. This iterative decoder can be implemented in a feedback configuration.