No, the magnitude of the displacement is the distance you are away from the point of origin (or where ever you are measuring from). Say I walk 2 miles North from my house, and one mile South after that. I have now walked a total distance of 3 miles. However, I am only 1 mile away (due North) from my house. So the displacement magnitude from my house to me is 1 mile. The total distance I have walked is 3 miles.
