yaa their is a relation B/W chords and bass, for any chord their are its relative bass notes, you can play these bass note for that particular chord. example:- for G chord u can play G note on e string on bass or open d string or even B. And u will see that all these notes together form G chord, so u can only play bass notes relative to their chord , other wise it will not sound good. And u have these bass notes played along chord in same guitar on in bass guitar seperatly. u might have seen thing like D/A or A/E or C/B in chord progression it means for D chord A note is played in its background as bass for Chord A , notes E is played in its bass and last for C chord B is played as bass