Sure. The ratio of pixels is 6:1 in favor of blu-ray of course. Blu-ray also uses a more efficient video codec than MPEG-2 used in DVD. All else being equal, that difference alone is 2:1.
Commercial DVDs are authored with a peak rate of 10 mbit/sec and average rate of around 5 mbit/sec. So select variable rate encoding, MPEG-2, with peak of 10 and average that allows the content to still fit in the DVD. Dual layer DVD is 9 gigabytes compared to 50 for Blu-ray.