it would, but your ranking is a good indication of your ability compared to your cohorts.
derived score is by no mean accurate. it is roughly correct, and you would generally apply for special considerations given the case.
they take in quite a few things:
1) your performance in exams relevant to the study. (however for many subjects this is not possible) e.g. exam 2 for exam 1, SM exam for MM exam, etc.
2) your ranking in your cohort. (the overall SAC ranking is given a fair bit of weighting. if your SACs is in the middle of the cohort, it is logical to say that you would roughly achieve similar results to the majority of your cohort. if your cohort does badly, then you are sandwinched in the middle.)
3) GAT. this also has a heavy weighting. the logical assumption is that your performance in your individual subjects should reflect the results on the GAT. if you do badly on the GAT, they may refuse to give you a derived score [happened to someone at my school last year]
4) indicative grade. this has the least weighting, primarily because of it being subjective from your teacher.
5) other assessed coursework (if statistics doesn't work out nicely)
I think it is done on a case-per-case basis.