No this is not correct. Both are different disorders . schizophrenia is a psychotic disorder characterised by longer duration than a month, delusions, hallucinations,or disorganised speech and behaviour. Bipolar disorder is a mood disorder. It has periods of elevated or irritable mood and excessive optimism, increased energy ,racing thoughts, grandiose ideas ,reduced sleep etc where as in depression phase  its just the reverse. Both schizophrenia and bipolar are treatable . Bipolar has a better outcome.

Hello there we understand your state. Schizophrenia is such a condition in which the person will be another world created by his own mind unknowingly and he thinks that it is real and will argue for it if someone questiins it and bipolar disorder is a part of schizophrenia where patient expressesntwo kinds of roles whuch are in contrast and he would behave oddly. They need immediate intervention by psychiatrist. Thank you