Straight and level means zero vertical speed, and zero roll angle. It does not hold an altitude or a heading. Turbulence, updrafts, or a human grabbing the controls will cause it to drift some. It does not pay any attention to the magnetic heading or track.
The point of straight and level is to recover the airplane and get it stabilized. If you have specific goals for the plane (heading, altitude), the you need to use the correct mode to achieve that.