From Rise: The Vieneo Province
TVM (Target Vector Matching)
TVM looks at the vector of the selected target and uses the ship thruster to tries to match both velocity and direction. When you have the desired close rate set to 0.0 you will try to stay in the same position to the target as you are now.
If you adjust the desired to a positive number you will be moved parallel to the target plus the closure speed and direction you are aiming. Your direction the nose is point and the desired closure speed is added to the target's vector as an additional vector.
If you adjust the desired to a negative number you will be moved parallel to the target minus the closure speed and direction you are aiming. Your direction the nose is point and the desired closure speed is subtracted from the target's vector.
TVM is also possible off a stationary object (a waypoint, a parked ground vehicle, a PODS on the ground), a stationary object has a vector of 0 direction and 0 velocity. This will try to hover a VTOL vehicle. In actuality since gravity is acting on the vehicle it will be slowly pulled to a landing, normally at about 2m/sec to 10 m/sec.