I'd be wary of such comparison. I remember Magestein doing some comparison BUT limiting himself just to the English language. 'Demon' = Day + Moon. (I mean sure, it was Magestein, so those of you who were here remember this non-human garbage)
Yeah, in English it can sound legit. But if you apply the same logic to other languages and cultures world wide - and ToZ is multinational - linguistically it does not sound as convincing. Have a look:
Spanish: Día + luna,
Turkish: Gün + ay,
Chinese: 天 + 月亮
Irish: Lá + gealach,
Brasilian Portugese: Dia + lua
Russian: День + луна