No, sorry, it's not near, it's plain wrong, and what you say doesn't make much sense either: the centre of gravity of any cross section of a gyroscope always lies on its axis, otherwise the vibrations would blow up the whole thing.
The properties of a gyroscope depend on two things:
- Rotational speed
-
Moment of inertia (aka angular mass)
It's as simple as that.
Deeday