Yes but you can't use it as a direct comparison. Two virtual machines on the same host hardware with the same domain CPU scheduling and core numbers won't necessarily achieve the same performance.
You attacked me and claimed I was ignorant right after I requested a clock speed:
Kalphiter yet again showing he doesn't understand virtualization.
They can be compared because they're supposed to be minimum, guaranteed performance values. The average power available to a VPS of a certain size is most likely calculated by someone.
Saying I have "three cores" to use without providing an average or guaranteed power can result in these two extremes: I may get 3 cores tuned at 1.8GHz, giving me 5.4GHz of power, or with a frequency of 3.6GHz giving me 10.8GHz of power.
Of course that doesn't include if it's shared and by how much, so it's really not clear at all what the VPS host is offering.