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This paper presents a complete set of elevation propagation parameters for a geometry-based radio channel model, and shows how the extension to elevation dimension affects MIMO performance. The figures of merit in MIMO performance are correlation and gain imbalance between the branches of the antenna array. The simulation and measurement results show a significant difference between antenna correlations in the case where the elements are on top of one another. Thus, the elevation gives an extra value for channel models to be used in the MIMO antenna performance tests.