Yes, SiteCorrect is a function within the WebRep - AvastUI, Additional Protection, Browser Protection, Settings SiteCorrect.
Though I have never actually seen the popup notification, it is looking for sites that you may have accidentally typed incorrectly (so it will ask). The reason for this is there are a lot of sites out there which use typo squatting to drive traffic to their site should you make a typo on a well-known name. In some cases these typo squatting sites could well be malicious.
Whilst reddit.com is correct it could well be a typo for say readit.com.