No- the coherence time is related to the bandwidth of a pulse, and is only related to the pulse time in diffraction-limited cases.
The coherence time means how well you can predict future values of the field (or intensity), and is typically measured by a Mach-Zender interfeometer.
As a rule of thumb, the coherence time (or equivalently, the maximum path difference in a M-Z interferometer) is given by twice the cavity length.