The elbow is the joint that connects the upper arm to the forearm. It is located between the shoulder and the wrist. The wrist, on the other hand, is the joint that connects the forearm to the hand. In anatomical terms, the elbow is proximal to the wrist, meaning it is closer to the center of the body, while the wrist is distal to the elbow, meaning it is further away from the center of the body. This relationship helps in understanding the structure and function of the arm and hand.