Elm is extremely variable in its bending characteristics, so many variations that I don't think I could list them all. Here is a list of some I have found, some bad, some good and some excellent and I am sure I haven't seen them all
Some trees will have high bend resistance yet will chrysal fairly easily, these usually have a fair bit of reddish brown heartwood and they mostly have thin rings. This wood is only good for backing strips on a low stress design IMO, or firewood
Some trees will have low bend resistance, they're almost like a rubber band. This wood doesn't chrysal easily but quite often they will take more set than I like even with a heavy heat-treating. This wood has very thick rings and a lot of sapwood. Sometimes though you can find one of these types that is excellent once heat-treated. They maintain their profile almost all the way though tillering and lose very little even after shooting. This one is excellent wood but not the best I have seen
Some trees have fairly high bend resistance and don't chrysal easily but they will take set even with a heavy heat-treating. These usually have quite a bit of sapwood with uniform medium thick rings. This is decent wood
Some tree will have good bend resistance, don't chrysal easily and maintain a lot of induced reflex from heat-treating even after shooting. These have variable ring thickness, meaning the rings change in thickness along the length of the tree, and a fair bit of sapwood. This is good wood.
Then we come to the A+ trees. These will always have medium thick uniform rings with a lot of sapwood. The sapwood can have a yellowish tint or be an off white colour. This wood always has a high bend strength, does not chrysal easily and keeps much of any heat-treated reflex that is put in even after shooting.
Very rare but sometimes you get a tree that is actually a bit weak in tension, unusual for Elm. I don't know much about these but they are generally thin ringed, could be that factor that makes them weak.
The differences in all of these is species related but not always. The ones that chrysal easily always seem to be Red Elm but there again there are exceptions. Some of these exceptions could be related to growing conditions, I don't know. The trees with thick rings invariably fall into the White Elm category. Then there's the others. Essentially there are just too many variables. The only way that I have been able to tell is to cut the tree and make a high stress design with the wood. I do tend to avoid Red Elm. The density of the wood does play a part in how good it is most of the time but not always.