A shallow copy creates a new object, but it does not copy the underlying data or index. The new DataFrame or Series shares both the data and the index with the original. Therefore, changes made to the data in either the original or the copied object will reflect in both, as they share the same memory location for the data.
A deep copy creates a new object and makes a complete copy of the underlying data and index. The new object is entirely independent of the original. As a result, changes made to the data in either the original or the copied object will not affect the other.