Not really
There is a way realy accurate if you re not moving. Put you periscope in front of your target, start the chronometer when the ship cross the crosshair, stop it when the target quits the crosshair. Check your identification book for the target length. Divide it by the amount of second and then x 2. You got the speed
It s really efficient and work with any AoB and you don t care about the range. Of course the more closer of 90° is the AoB, the more accurate is the speed you got.