Spatiotemporal gait analysis with body worn inertial sensors improves diagnosis in clinical practice. Most of the gait performance measures are affected by walking speed. However, it has not been investigated that how much information foot clearance parameters share with the key parameters of gait performance domains. Using shoe-worn inertial sensors and previously validated algorithm we measured spatiotemporal as well as clearance gait parameters in a cohort of able-bodied adults over the age of 65 (N=879). Principal components analysis showed that variability of foot clearance parameters contribute to the main variability in gait data. Moreover, only weak to moderate correlation of gait speed and stride length with some clearance parameters has been observed. We recommend the assessment of clearance parameters during gait analysis in addition to parameters such as gait speed, bearing in mind the importance of foot clearance measures in obstacle negotiation, slipping and tripping related falls.