The sign function of a square matrix was introduced by Roberts in 1971
. We show that it is useful to regard S = sign(A) as being part of a m
atrix sign decomposition A = SN, where N = (A(2))(1/2). This decomposi
tion leads to the new representation sign(A) = A(A(2))(-1/2). Most res
ults for the matrix sign decomposition have a counterpart for the pola
r decomposition A = UH, and vice versa. To illustrate this, we derive
best approximation properties of the factors U, H, and S, determine bo
unds for parallel to A - S parallel to and parallel to A - U parallel
to, and describe integral formulas for S and U. We also derive explici
t expressions for the condition numbers of the factors S and N. An imp
ortant equation expresses the sign of a block 2 x 2 matrix involving A
in terms of the polar factor U of A. We apply this equation to a fami
ly of iterations for computing S by Pandey, Kenney, and Laub, to obtai
n a new family of iterations for computing U. The iterations have some
attractive properties, including suitability for parallel computation
.