There are 3 ways to track links in email campaigns. They are 
1. Yes --> It tracks the link clicks that are clicked.
2. Yes & Push --> Tracks the link clicks and It pushes a cookie to their browser and when they come back to any other page on your website, it would track them too and that is how it shows on Web Analytics
3. Yes & Push (Email Only) --> This will push a cookie to their email and only track when they click on the link from the email.
4. No --> It doesn't track the links.