No. Someone took the modern English alphabet and assigned a rune to each letter. Except English letters don't match up to a single sound (e.g. cinder vs. candor), and modern English uses different sounds than Old Norse. Whoever put this together did the best they could, and then made up the rest. The 'y' and 'ng' runes look especially far out.

Scandinavians writing Old Norse during the Viking Age would have used an alphabet called the Younger Futhark. It was the alphabet used, for example, on many of the runestones from the later Viking Age. The Nationalmuseet in Copenhagen even has a church bell with the Hail Mary written in runes in Latin! This site seems to be a decent introduction to the Young Futhark, and there's even a memrise course. If you have any questions, I'd recommend using /r/Norse as your first resource. They can be a lot of help over there.