Running separate WP install at a subdomain

Hi,

I have a quick question.

If I have WP running my main website at http://www.mywebsite.com, and I want to set up a separate development website at dev.mywebsite.com also running on WP – can I do this with a separate WP install rather than use a network? I’d like to keep the development environment completely separate, but wondered if there could be any impact on my main website through doing this?

Thanks.