I'm sure you've seen this (and maybe we've talked about it?), but just in case not, it's a very good paper with one of the best titles ever: "19 dubious ways to exponentiate a matrix" http://www.cs.cornell.edu/cv/researchpdf/19ways+.pdf …
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Whoa! Now I feel downright sheepish about my initial take. I'll have to think more on this... It feels like U and V have to bear some relation to the relevant diagonalizing, but maybe that's just me being grounded too stubbornly in certain intuitions.
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Some relationship, yes. But a priori, to me, it seems very complicated to say what exactly.
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Horn's conjecture is a set of inequalities characterizing the relationship between the spectra of Hermitian matrices H, K and their sum H+K. There's a lovely survey by Knutson and Tao here: https://arxiv.org/abs/math/0009048 … I believe Thompson's theorem can be proved rather more simply.
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