Yes it is correct, as long as you didn’t alter the bitrate.
On a very basic level:
Part of transcoding is usually defining a bitrate, say for example 500Kb/s. This works out to be 20Kb per frame (@ 25fps).
Obviously the larger the frame the less bits there are to store information on a ‘pixel’ by ‘pixel’ basis, so if you increase the frame size and don’t increase the bitrate the image will degrade.
As such, the rule of thumb is generally considered to be that larger frame sizes require higher bitrates to meet a certain quality level.