Only if those two words appear in the same contexts with the same frequency. In natural language this is probably not the case. There are things typically considered beautiful and others as ugly.
one key insights is that opposites do have a lot in common, they are often opposites in exactly one of n feature dimensions. For example black and white are both (arguably) colors, are related to (lack of) light, have representations in various formats (RGB, …), appear in the same grammatical position of ordered adjectives …