They probably correlate, but, well, if you want to be clipping at the preamp level, you should be damned sure you know what it’s doing to the signal. There are a lot of high end mic preamps that people intentionally push a little for the slight saturation you get out of them. They usually cost more per channel than even a fairly high end 8-input interface today will set you back, and there’s a good reason for that.
I don’t think there are too many situations where you have to worry about clipping at the preamp level but not at the converter level, in the “normal” home recording range. But I’d also generally make sure that, if you have any sort of preamp clip indicator, it’s staying out of the red, and very likely out of the yellow if you have that level of visibility, unless you’re absolutely sure that intentionally overdriving it a little is adding something very musical you want in the recording. And you definitely DON’T want to clip at the analog-to-digital conversion point, even if something else is later reducing the signal down to -12-24 when it hits the DAW channel.
There’s a lot more to gain staging than “don’t accidentally overdrive something along the way even if your finished signal isn’t clipping” but that’s the single highest-yield step in the process, making sure nothing is clipping earlier in the chain than the track VU meter you see at the end.