How to create a velocity matrix

I want to create a n by n square matrix for velocity Z using the formula below

Z=(2*dP*K'*y*(x-P))/((x-P)^2+y^2))^2

For example, a 3 by 3 matrix will be

Z1=K'(1)P(1)x(1)y(1)+K'(2)P(2)x(1)y(1)+K'(3)P(3)x(1)y(1)

Z2=K'(1)P(1)x(2)y(2)+K'(2)P(2)x(2)y(2)+K'3)P(3)x(2)y(2)

Z3=K'(1)P(1)x(3)y(3)+K'(2)P(2)x(3)y(3)+K'(3)P(3)x(3)y(3)

The size of the matrix follows the npanels=3 value

Vector K',vector P,Vector x and Vector y are row vectors with 3 elements which is the value of npanels=3.

FreeVel=1; %free stream velocity
  npanels=3; %number of panels
  dP=2.4/npanels; %equal length panels
  P=[-1.2+(2.4/npanels)/2:dP:1.2-(2.4/npanels)/2]; %panels x-ccordinates
  a=1.25; %major axis
  b=0.75; %minor axis
  O=[pi-pi/(2*npanels):-pi/(npanels):pi/(2*npanels)]; %boundary points
  r=(a*b)./sqrt((b*cos(O)).^2+(a*sin(O)).^2); % ellipse in polar coordinates
  x=r.*cos(O); %x-coordinate
  y=r.*sin(O); %y-coordinate
  v=1:npanels;
  C=reshape(cell2mat(arrayfun(@(v)(y(v).*dP)./((x(v)-P).^2+(y(v).^2)),...
  v,'uni',false)),npanels,npanels)'; %matrix Cij

    K=inv(C)*FreeVel*y'; %doublet densities

    Z=(2*dP*K'*y*(x-P))/((x-P)^2+y^2))^2