Sorta. It's based loosely on a clock. The second, shorter dagger (which is based off of Slider) is the minute hand and the bracelet (vortex bracer) is the hour hand.
Honestly space and time seems to be more tied to Air. There's rewind, which does mostly air damage, and is able to warp time, weathered, which is also connected to time and Time Valley, and the seven league boots, which bend space.
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