IMHO, it does not. If that were true, wouldn't we have a lot of weird fossils? Wouldn't the DNA fo the elephant be like or similar to an ant?
If you're talking about transitional fossils, there are literally scores of them (something you won't hear from creationist sources). And, if you actually give it any thought, the elephant's DNA should bear very little resemblance to the ant's (though there will be some very small portions in common).