Of course you wouldn't. But imagine that instead of being about Frodo, a Hobbit in Middle Earth at the end of the Third Age, The Lord of the Rings had been about "Geoff", a 16-year-old boy attending King Edward's School in Birmingham in 1911, who (let's say) is described as being a genuine psychic. If you were then told that "Geoff" the character was derived from Geoffrey, Tolkien's old school chum, you'd be more inclined to identify "Geoff" with Geoffrey underneath the clearly magical or ahistorical elements (such as the supposed genuineness of "Geoff's" psychic ability).