Explanation (by order):
Origin Essence and Supreme Dao initiated the creation of cosmos. From them came forth the Three Divine Essences (Chaos, Genesis & Spirit Source) they are the body, energy and soul of the cosmos. These energies are beneficial to Cultivators but also harmful because these essences are extremely wild in nature since they are created from Origin Essence and Supreme Dao and they are basically the source of all. Only a wisp of them is truly what helpful to a Practitioner.
From the Three Divine Essences, Yin and Yang was born. Yin & Yang is the duality present in all aspects of the cosmos. They describe the opposite or contrary forces are actually complementary, interconnected and interdependent in the cosmos and how they mutually give rise to each other because of that Five Elements and Three Treasures are created. Five Elements are said to be the fundamental elements which compose everything in the cosmos, they are Wood, Fire, Earth, Metal and Water.
However, Three Treasures are the three essential energies which are said to sustain life of a world. They are created from the Spiritual Energy of Heaven and Earth, the natural energy of a world. The Three Treasures are what Mortals need to walk the path of Martial Arts. The Three Treasures are the Essence, Qi and Spirit. Like the Three Divine Essences; Essence is basically the life blood, Qi is the breath of life or spiritual energy and Spirit is the mind or consciousness, the only difference is Three Treasures came from a world, the natural energy in it. Three Treasures are said to be the lower 'version' of Three Divine Essences, they are milder and gentler. They are more suitable for Practitioners because it is generated from the world they live in.
And from Five Elements and Three Treasures derived more types of Energies such as Blood Essences, Demonic Energy and a lot more.
Reference:
Concept by yours truly.
Defintion from;
immortalmountain.wordpress.com
martial world wiki