Terrain, absolute and relative altitudes

I am running mission planner 1.3.80 with SRTM data from earthexplorer.usgs.gov. When I hover the mouse over a waypoint the altitude is correctly displayed as 233.m. I am starting from a home altitude of 34 m so I set the waypoint in the table below and when I run the simulation the vehicle is not going to the altitude I expect when in absolute mode. I’ve tried with both multirotor and plane and got the same results with both.
Relative Setting (home alt=34m) set altitude=219 expected altitude=253 simulated altitude=247
Terrain Setting set altitude= 20 expected altitude=253 simulated altitude=211
Absolute Setting set altitude=253 expected altitude=253 simulated altitude=211

I can understand that the Terrain setting is maybe interpolating over the 1 arcsec area but I don’t understand why the absolute setting doesn’t result in the correct altitude.