Nightmare On Elmo Street

As parent of both toddler and teenager I am slightly familiar with the terms "Nightmare", "Elmo", "Emo" and "Elm Street". Do you find connections between the legendary horror movie "Nightmare on Elm Street" and the "Elmo" - Muppet on children's television show Sesame Street:

Horror movie title is "Nightmare On Elm Street". The name of the monstrous Muppet is "Elmo" and he lives on the "Sesame Street".

BTW the rest of "Elmo Street" dudes looks no better than shaggy Freddy ;-)