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No.
The speed of a connection determines how many bits of information can be sent or received in a given period of time (usually measured in bits per second or bytes per second).
The ping of a connection determines how long that data takes to go from point A to point B (usually measured in milliseconds).
Personally, under 100ms is pretty good and under 50ms is great. If it goes over about 200ms, you really start noticing the lag whether you're the one lagging or someone else is lagging.
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