That would be incorrect.
I'll 'splain it for yuh.
It goes 10's...100's...1,000ths...10,000ths and so forth.
4 digit's to the right of the decimal point is the 10,000ths place.
If the pps moves from .0017 to .0016 the movement is in the 10,000ths placement, and constitutes 1 10,000th of a cent.