We explicitly describe the best approximation in geodesic submanifolds of positive definite matrices obtained from involutive congruence transformations on the Cartan-Hadamard manifold ${\mathrm{Sym}}(n,{\Bbb R})^{++}$ of positive definite matrices. An explicit calculation for the minimal distance function from the geodesic submanifold ${\mathrm{Sym}}(p,{\mathbb R})^{++}\times {\mathrm{Sym}}(q,{\mathbb R})^{++}$ block diagonally embedded in ${\mathrm{Sym}}(n,{\mathbb R})^{++}$ is given in terms of metric and spectral geometric means, Cayley transform, and Schur complements of positive definite matrices when $p\leq 2$ or $q\leq 2.$

The convergence behavior of best uniform rational approximations $r^\ast_{mn}$ with numerator degree~$m$ and denominator degree~$n$ to the function $|x|^\alpha$, $\alpha>0$, on $[-1,1]$ is investigated. It is assumed that the indices $(m,n)$ progress along a ray sequence in the lower triangle of the Walsh table, {\it i.e.} the sequence of indices $\{ (m,n)\}$ satisfies $$ {m\over n}\rightarrow c\in [1, \infty)\quad\hbox{as } m+ n\rightarrow\infty. $$ In addition to the convergence behavior, the asymptotic distribution of poles and zeros of the approximants and the distribution of the extreme points of the error function $|x|^\alpha - r^\ast_{mn} (x)$ on $[-1,1]$ will be studied. The results will be compared with those for paradiagonal sequences $(m=n+2[\alpha/2])$ and for sequences of best polynomial approximants.