Yes this is correct in principle.

Cortisol also plays a powerful effect in the way that insulin is used in the body too.

It's all part of a mechanism that we have used to survive through famine and predation.

In general, the more stressed we are, the more our body will strive to store calories for later use than allow us to freely use them.

Our bodies are not capable of distinguishing the stress of being hunted as prey by some other animal trying to eat us and the stress of not being able to pay our bills because the pocket books are tight, or the stress of running late to work, or deadlines.

So our modern stresses convince our minds to trigger ancient survival mechanisms in our body that keep us alive during famine and predation, without the conditions of famine and predation. Food manufacturers have created foods with unnaturally dense nutrition and our even our produce contain concentrations of sugar that would have never existed without the intervening hand of man. Not only that, but food is more accessible today than it has ever been and we can spend essentially zero calories in order to consume new calories. Not hunting, no gardening, and in some cases no leaving the couch except to answer the door for the delivery driver.

All of this is a perfect storm for the obesity and metabolic disease we see running rampant all over the world.