Noob memory question, Mhz vs Latency

[iB CoMpL3XiTy]

Hey chaps

I'm unsure on the relationship between clock speed and latency timings, do they both have an equal effect on performance?

For example is 1066Mhz CL5 equal in performance to that of 2133Mhz CL10?

Or do some applications prefer lower Latency or a higher clock speed?

 

[iB CoMpL3XiTy]

Ok thanks for explaining, do you know the 3930K's IMC speed?