Yup. The color you see is made up of different "toners" (think of them as base colors), mixed in at various small amounts to pull the final color in one direction or another.
My '68 Road Runner W1 white had small amounts of black & ochre in it, for example; I think there were 5 toners in all to make that color.
Older blues tend to be greener than contemporary blues, which tend to be redder.
My best painters understood the "color wheel" and primary colors, and had an eye for moving say a blue toward the green or red part of the spectrum. One guy in particular was a genius at it, with an excellent "eye", and always kept spray-out cards he'd make to save him time on matching colors.