I'm pretty sure you can just use df.divide()
If df is
A B C
2000-01-01 -1.420930 -0.836832 0.941576
2000-01-02 -1.011576 0.297129 0.768809
2000-01-03 0.482838 0.331886 1.573922
2000-01-04 -1.359400 -0.909661 1.144215
2000-01-05 0.142007 -1.600080 2.160389
2000-01-06 -0.782341 0.452034 0.242853
2000-01-07 0.414489 -1.319712 -0.129439
2000-01-08 -0.817271 -1.073293 1.689901
and dfMax is:
2000-01-01 0.941576
2000-01-02 0.768809
2000-01-03 1.573922
2000-01-04 1.144215
2000-01-05 2.160389
2000-01-06 0.452034
2000-01-07 0.414489
2000-01-08 1.689901
Then df.divide(dfMax, axis=0)
gives you:
A B C
2000-01-01 -1.509098 -0.888757 1.000000
2000-01-02 -1.315771 0.386480 1.000000
2000-01-03 0.306774 0.210866 1.000000
2000-01-04 -1.188064 -0.795009 1.000000
2000-01-05 0.065732 -0.740644 1.000000
2000-01-06 -1.730712 1.000000 0.537245
2000-01-07 1.000000 -3.183953 -0.312285
2000-01-08 -0.483621 -0.635122 1.000000