I have been sharing an apple id and want to correct this. I think I should remove my device from the shared apple id, create a new apple id and then add my device to the new apple id? Is this correct?

Yes.

Note that any Apps bought / downloaded with the previous Apple ID will forever be tied to it and require it for updates.

You can delete said Apps and redownload them from the App Store with the new Apple ID to have them tied to the new Apple ID.

You will need to sign out of the current Apple ID from Settings->iTunes & App Stores, Settings->iCloud, Settings->Facetime, and Settings->Messages, to completely remove the Apple ID from the device.