Not if you're doing it right away. There was an eBay rep who explained it a few years back, so things could be different, but essentially he said both relist and sell similar carry over information from the original listing such as buyer engagement and other search-impacting factors. Edit to add: I think he said it takes a month of being unlisted before that search placement data will wipe clean on a sell similar? I can't remember exactly.
Using sell similar you are just creating busy work and using up extra listings because you're carrying over bad search placement data.
The ways to make a positive impact are making revisions to things like price (sale, offer, etc), doing new photos if the listing is stale, revisiting your title and item specifics, and making sure your price is still competitive with a market that can change from week to week.
The only real search boost you get from sell similar is moving to the top when a buyer searches by "newly listed" which isn't that common unless it's someone searching for collectibles or someone that constantly monitors for a certain type of product. Those buyers tend to get annoyed when they see the same stuff pop up again and again. It's one of the reasons eBay changed relist a couple years ago so relist no longer pops up in the newly listed sort - the listing maintains its original list date for search purposes. I think most buyers are searching either best match or low price and sell similar isn't going to help you with that.
That's a lot of info, much of which may not matter to you. Take from that what you will and hopefully some of it helps.
