As mentioned, parity isn't a backup. And in fact, it is probably less important than your other drives, since it doesn't contain any of your data, and by itself is useless, whereas the data disks do at least contain data. In fact, one of the advantages of Unraid is each disk can be read by itself without needing parity or the other disks, unlike RAID.
Single parity will allow a single disk to be reconstructed from the parity calculation using the bits on parity combined with the bits on all the other disks. That wiki overview I linked explains parity and I suspect that video I linked does also though I haven't looked at it lately.
As I said, parity is just an extra bit that allows a missing bit to be calculated from all the other bits. That is all parity ever is whether talking about Unraid, RAID, or just data transmitted on whatever.
And parity can't help recover deleted files, for example. Parity is NOT A BACKUP. Parity doesn't even know anything about your files. It is just bits. It just allows you to reconstruct a failed disk. That will get you going again a lot easier and faster than getting everything from backups.