I was on a team that went from every 3 weeks to multiple times per day. The number of incidents in production dropped drastically.
But much more important than that drop, was that when things went wrong is was MUCH MUCH faster to find the problem. It was also much safer and easier to roll back, since there were so few changes that would be rolled back. No one wants to back off 3 weeks of work. That's chaos.
That is the opposite of my experience. Slow deploys mean bigger deploys mean more complexity going live mean more nervousness and more testing mean more hesitation mean more chance that something unforeseen mean errors that no one understands mean war rooms.
In my experience, there's very little correlation. I've been on projects with 1 deployment every six weeks, and there were just as many production incidents as projects with daily deployments.
