Can having multiple threads on a single core system still improve performance?

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I just learned the basics of parallel-processing in Java. I read this question: Multiple threads and performance on a single CPU and wondered if there is not another reason why multiple threads might be faster than single thread on a single-core system. I was thinking about how every thread has it's own piece of memory which it uses. Imagine in Java that FXML was part of the main thread. This would likely increase the size of the main threads' memory and in turn this may slow down the thread because it has to load more values on the swap or worse, has to make more calls to the memory (I think the current threads' values are copied to cache).

To sum it up, can making multiple threads on a single-core system increase performance due to the seperated memory?

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