Divide two matrices

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Cosider the two following matrices: \begin{align} E=\begin{bmatrix} e_{11}\;\; e_{12} \\ e_{21}\;\; e_{22} \\ \end{bmatrix} \end{align} and \begin{align} X=\begin{bmatrix} x_{11}\;\; x_{12} \\ x_{21}\;\; x_{22} \\ \end{bmatrix} \end{align} I want to divide each element with each other. So I get the following matrix (let's call that $K$): \begin{align} K=\begin{bmatrix} e_{11}/x_{11}\;\; e_{12}/x_{12} \\ e_{21}/x_{21}\;\; e_{22}/x_{22} \\ \end{bmatrix} \end{align} How do I wrote that as an equation. My best guess is: \begin{align} K=E \circ X^{-1} \end{align} Where I use the Hadamard product. But I am not sure whether this is correct.

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As JMoravitz points out in the comments, apparently there is somewhat standard notation for Hadamard multiplicative inverse.

No matter how you write it, though, the operation you're trying to do is so unusual compared to the standard matrix inverse that I would add a note clearly explaining to the reader the notation.