Phylogenetic and functional diversities and their relationship are important for understanding community assembly, which relates to forest sustainability. Thus, both diversities have been used in ecological studies evaluating community responses to environmental changes. However, it is unclear whether these diversity measures can uncover the actual community assembly processes. Herein, we examined their utility to assess such assembly processes by analyzing similarities in phylogenetic, functional, and taxonomic α- and β-diversities along an elevational gradient. Additionally, we examined the relationships among environment, phylogeny, and functional traits within the community. Based on our results, we evaluated whether phylogenetic or functional diversity could better reveal the actual community assembly processes. We found that taxonomic, phylogenetic, and functional α-diversities were correlated with one another. Although the functional α-diversity showed a linear correlation with the elevational gradient, taxonomic and phylogenetic α-diversities showed unimodal patterns. Both phylogenetic and functional β-diversities correlated with taxonomic β-diversity, but there was no significant relationship between the former. Overall, our results evidenced that phylogenetic diversity and taxonomic diversity showed similar patterns, whereas functional diversity showed a relatively independent pattern, which may be due to limitations in the functional trait dimensions used in the present study. Although it is difficult to unravel whether the environment shapes phylogeny or functional traits within a community, phylogenetic diversity is a good proxy for assessing the assembly processes, whereas functional diversity may improve knowledge on the community by maximizing information about the functional trait dimensions.