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A PI Tag, that is also called a PI Point or sometimes a data stream, receives and keep history of times series data.
You know that an attribute is showing that of a PI Tag when you see the '"label" icon in front of his name.
From this picture, in PI System Explorer, you can see that Attribute1 is linked to Element1, because I have selected Element1 and showing its attributes.
Also, if you look at the attribute configuration, you see that this is a Data Reference of type PI Point.
And from the configuration string (the text area under the settings button), you can see that it is showing the value if the PI Tag CDT158, from server Megatron.
Hope this clarifies and let us know if you have more questions,