For those interested:
Strength determines physical attack power
Vitality determines physical defense
Dexterity determines attack accuracy
Intelligence determines magical attack power
Mind determines magical defense
Piety determines magical accuracy
"Fire melts ice, but is extinguished by wind"
"Ice obstructs wind, but is melted by fire"
"Wind Extinguishes Fire, but is obstructed by Ice." Fire > Ice > Wind > Fire
"Earth grounds lightning, but is eroded by water."
"Lightning boils water, but is grounded by earth"
"Water erodes earth, but is boiled by lightning" Earth > Lightning > Water > Earth
Source: consult the Aetheryte, and Read "The Call of Adventure." It's all in there.