For the first part of the question,
TotalTime: Time spent for an API request end to end at APIM side.
BackendTime: Time spent for the roundtrip call to your backend for the API (includes the time taken by your backend API server).
ClientTime: Time spent on the request for client operations i.e. client http request receive and response send. NOTE: It may not get logged always.
Ideally, TotalTime = BackendTime + ClientTime + Time required for other processing e.g. APIM policy execution etc..
Please feel free to clarify if the above still not clear or you are looking for something else.
For the next part of the question regarding 'CorrelationId' in ApiManagementGatewayLogs, it's APIM diagnostics logs and unfortunately, which does not infer it from http header like Request-Id or traceparent (W3C standard). Alternatively, you may want to look at Integrating Azure API Management with Azure Application Insights which supports Telemetry Correlation from http headers.