respect / regard
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in ... respect
Indicates a particular aspect, point of view, or perspective from which something is considered. The word is used almost exclusively in fixed expressions such as 'in dieser Hinsicht' (in this respect), 'in jeder Hinsicht' (in every respect), or 'in gewisser Hinsicht' (in a certain respect).
In finanzieller Hinsicht ist das Projekt ein großes Risiko.
In financial terms, the project is a major risk.
The word is made up of 'hin' (in a direction) and 'Sicht' (viewpoint). So it literally describes a particular direction of view or perspective on a topic.
In politischer Hinsicht sind die beiden Parteien sehr verschieden.
In political terms, the two parties are very different.
'Hinsicht' is used almost exclusively in the fixed expression 'in ... Hinsicht' (in ... respect). Between 'in' and 'Hinsicht', there is almost always an adjective that describes the aspect more precisely.
In technischer Hinsicht ist das neue Smartphone beeindruckend.
In technical terms, the new smartphone is impressive.
Common combinations are 'in jeder Hinsicht' (in every respect), 'in dieser Hinsicht' (in this respect), and 'in gewisser Hinsicht' (in a certain respect). Adjectives that name a topic are also common, such as 'in beruflicher Hinsicht' (professionally/in terms of one's career) or 'in persönlicher Hinsicht' (personally/in personal terms).
Das Projekt war in jeder Hinsicht ein voller Erfolg.
The project was a complete success in every respect.
relationship / connection
'die Beziehung' and 'die Hinsicht' can both help connect things or look at them from a particular point of view. 'Beziehung' means a real relationship or connection between people, things, or topics. 'Hinsicht' is used almost only in fixed expressions like 'in dieser Hinsicht' (in this respect) and then means a particular aspect. The confusion arises because sometimes you are talking about a connection or an aspect. In practical terms: for a connection, say 'Beziehung'; for a point of view, say 'in dieser Hinsicht'.
In dieser Hinsicht hat meine Freundin recht.
In this respect, my friend is right.
Zwischen Stress und Schlaf gibt es oft eine klare Beziehung.
There is often a clear relationship between stress and sleep.