Most often, what you see in terms of PPM are not 'particles' but rather compounds that have been formed of the various wear metals.
For example, wear iron becomes iron oxide, ie: rust, a substance that is very soluble in motor oil.
The underlying assumption we have to work from is that the amount of soluble metallic compounds generated from the use of the lubricating oil is somewhat in proportion to the rate of mechanical metallic wear within the engine.
However, it is entirely possible, due to certain situations, to have higher levels of iron, but still have oil that does not cause any accelerated rate of wear. For example, an engine left for 5 years without being run, inevitably will accumulate slightly higher iron due to corrosion. However, the byproducts of corrosion, by themselves, do not increase the abrasiveness of the engine oil, as they are mostly completely soluble, and the engine oil should still be, all other possible factors ignored (external contamination), suitable for continued use, despite a high iron level.
If one wants a true picture of wear in an engine, they really need to also be doing a filter analysis. We don't consider filter analysis on this website because they cost several hundred $$$ each, and most engines operated by people here are low-value engines, overhauled for not very much money.
The sort of used oil analysis done here are primarily useful for trendline analysis, and for determining lubricant life. Some lubricants might have absolutely horrible wear properties, but at the same time, also have horrible metallic solubility, thus giving artifically low numbers insofar as wear is concerned. For example, Esso XD-3 and Delvac-1, two extremely high-TBN/low TAN oils -- their extreme acid fighting and anti-corrosion additives might actually be more functionally useful insofar as producing good used oil analysis than their actual base oils -- without doing a filter analysis and engine teardown, we really don't know. (well we do actually know since people have done XD-3 and D-1 teardowns and they come out excellent).