I’m pretty sure that no, they are different things: It seems like (since forever) I just get one email the first time someone answers a new question I have asked. I assume this is the Notification feature. Activity for You I think is just that link on the right that gives a page which I have always thought just lists all the questions I am officially following, in reverse chronological order of most recent answer. (This takes a while (20+ seconds?) to load for me each time the page reloads, so I tend to ignore it – I currently have 2471 “new” Activity for Me).