Short ballistic lesson to get you started.
If you fire a bullet from a level barrel it will immediately start to drop when it leaves the barrel due to gravity. No matter the shape, weight or velocity if fired over level ground it will hit the ground in exactly the same time as a bullet simply dropped from the elevation of the muzzle.
A faster bullet will go farther before striking the ground.
Trajectories are figured out over level ground and for ranges the barrel is slightly elevated.
Things that effect trajectory.
Velocity-the faster the bullet the farther it travels as it drops
Ballistic coefficient-a factor of the bullets weight length and shape that rates its ability to move through the air and retain its velocity. A longer heavier bullet with a pointed profile will have a better coefficient than a shorter lighter bullet of the same caliber. Around ball is near zero and some 750 gr 50 caliber bullets are near 1. 30-06 examples a 110gr spire point about .256, a 150 grain spire .359, a 165 spire about .382 and a 168 gr boat tail about .550, a 180 grain round nose.228 and a 190 gr boat tail hollow point .610
So, a combination that gives you good velocity with a good ballistic coefficient will give the better trajectories. A light bullet might leave the muzzle with more velocity, but it will shed that velocity faster than a heavier bullet with a better ballistic coefficient and have a worse long range trajectory. 30-06 a 110 grain spire zeroed at 300 yds vs a 168 gr boat tail. 110 MV 3400 fps, 168gr 2900 fps 100 yds 110 is 2.8" high, 168 is 4" high at 200 yds the 100 gr is 3" high and the 168 is 4.8" high both are dead on at 300 but at 400 yds the 110 is 111.1 low while the 168 is 10.8" low (the ballistic coefficient is no working well in its favor) at 500 yds it really shows with the 110 dropping 31.3" and the 168gr 29". Also the 110 has 698 ft# of energy and the 168 has 1638 ft#.
The 110 shoots flatter out to 300 yds and would be a clear winner for coyotes to 300 yds, but would have only 1269 ft# poor penetration and be poor on deer while the 168 would have 2142 ft# and with about twice the energy be very effective on deer.
Knowing the ballistics for your rifle and round is necessary to become a proficient long range shot. That and learning to be good at range estimation. I hear people state they are going to sell their 30-06 and get a 300WM so they can kill game at longer ranges. Yet without knowing the ballistics and being able to estimate ranges a 300WM only has maybe a 50yd advantage over a 06. If I am shooting an 06 with 180 gr spires at 2800 fps zeroed at 300yds I am 4.6 high at 100yds, 5.4" at 200yds dead on at 300yds and 12.4" low at 400yds. So I need to know I am going to hold a bit low at 100 and 200 and high considerably high at 400yds. By holding slightly high or low center of mass on the chest cavity of a deer I should be effective to about 350 yds if I estimate range fairly well. With a 300WM and the same bullet and zero I will be 3.5 high at 100yds, 4.3"at 200yds and 10" low at 400yds. Notice that till 300yds the bullet trajectory is with in an 1" of the 06 and I only gained 2.4" at 400. Not much improvement unless I know my ballistics and how to estimate range.
I shoot a little Remington 600 in 308 and load it with 168 grain spires. The 18" barrel cuts my velocity to about 2600 fps. I sight it in at 200yds and am 2.4 high at 100 and 10" low at 300. It is 29.4 low at 400. Yet I have made a 1 shot kill on a mule deer buck at 350 by holding over his back about 12". I figure that 350 yds is max for me with that rifle.
My 338WM is sighted in with 225gr at 400yds. This means I am about 7" high at 100, 11" at 200, 9" at 300 and 17" low at 500. I hold at bottom of chest till over 300yds and after 400 hold high, at 600 I would need to hold around 30" over an elks back to make a killing shot. Won't happen because I can not estimate the range accurately enough to make the correct hold over. It drops so fast after 400 yds that a even a 25 yd miss in range estimation would mean a miss or a cripple. Our range has a 600 yd gong and I can hit it regularly off a bench with my 338WM, but in the field I will not have a bench (I do carry a shooting stick) but worse without a range finder I won't be able to say if it is 550yds or 625. With that gun I figure 500yds is my limit.