Yes. I like to look at conversion in a manner that, after you do what you do, I can no longer benefit from ownership. In essence, you should now own my chattel, and should pay me for that chattel. (I'm operating without the benefit of notes here).
With trespass to chattel, in order to make me whole again, I just need to be compensated for your trespass, and I can go on benefitting from my ownership.
With conversion, my chattel has been permanently damaged (or my *ownership* has been permanently damaged), and I can only be whole by your paying for my chattel, which you now own.
Next torts question:
Does conversion require that you permanently deprive the owner of control of their chattel?