The pair of functions $(\tan, \sec)$ shares some interesting properties with the pair $(\sinh, \cosh)$.
First of all, they satisfy the same quadratic equation, namely $$\sec^2 x - \tan^2 x = 1 \qquad \cosh^2 x - \sinh^2 x = 1$$ for any $x$ in the respective domains.
Moreover, $\tan$ and $\sinh$ are both odd functions, while $\sec$ and $\cosh$ are both even functions.
Now, suppose that we define a binary operation $\oplus$ on some subset of real numbers such that $$\tan (x \oplus y) = \tan x \sec y + \sec x \tan y$$ whenever $x \oplus y$ is defined. Then one can prove that $$\sec(x \oplus y) = \sec x \sec y + \tan x \tan y$$ and these two formulas look exactly like the addition formulas for the hyperbolic functions. (For the subtraction formulas it is enough to let $x \ominus y = x \oplus (-y)$ whenever it is defined.)
There's more: one can also prove that an analogue to De Moivre's formula holds, i.e., $$(\sec x + \tan x)^n = \sec (\mathring n x) + \tan (\mathring n x)$$ where $\mathring n x$ denotes $x \oplus x \oplus \dotsb \oplus x$ with $n$ addends. Finally, if we define an analogue of the derivative with this new operation by letting $$\mathring D f(x) = \lim_{h \to 0} \frac {f(x \oplus h) - f(x)} h$$ then we obtain $$\mathring D \tan x = \sec x \qquad \mathring D \sec x = \tan x$$ similarly to what happens with the hyperbolic functions.
My questions are:
Is there a way to make this correspondence precise so that one can give a simple unique explanation for all of these analogies (and possibly others that might hold)?
How can we interpret the operation $\oplus$?