The purpose of this study was to investigate a range of selected physical measures for their relative contributions and extent to which they may explain the performance of the Timed "Up and Go" test (TUG) in a sample of healthy older adults. The participants where 194 adults aged 65 and older with no cognitive impairment and independent in their daily activities from local senior centres and a geriatric nursing home in Valencia, Spain. Age, body mass index (BMI), TUG, Berg balance scale (BBS), One-leg stand test (OLS), grip strength, chair stand test (STS-5), knee extension strength and rectus femoris cross-sectional area (CSA) where measured. Moderate to high significant associations were found between the TUG performance and BBS and knee extension strength (r = -.561 and -.397). A stepwise multiple regression analysis showed that the BBS was a significant and independent predictor (AdjR(2) = .373) for the TUG performance. The TUG is highly correlated with the BBS score and knee extension strength, measures that represent common performance tasks in everyday life. The BBS was demonstrated to be the most significant factor explaining the TUG performance. The TUG is demonstrated to be a useful tool for predicting changes in functional balance measured with the BBS. The mobility decline may be better explained as the sum of deficits across multiple domains rather than as a single entity. Clinicians would benefit of those findings by a better understanding of the physical measures, in addition to designing more accurate interventions focusing on the enhancement of mobility.