In electronic circuits, signal velocity is one member of a group of five closely related parameters. In these circuits, signals are usually treated as operating in TEM (Transverse ElectroMagnetic) mode. That is, the fields are perpendicular to the direction of transmission and perpendicular to each other. Given this presumption, the quantities: signal velocity, the product of dielectric constant and magnetic permeability, characteristic impedance, inductance of a structure, and capacitance of that structure, are all related such that if you know any two, you can calculate the rest. In a uniform medium if the permeability is constant, then variation of the signal velocity will be dependent only on variation of the dielectric constant.