<div>
    <div class="test">test</div>
    <div class="sdf">sdf</div>
    <div class="lol">lol</div>
</div>
<hr>
<div>
    <div class="test">test</div>
    <div class="sdf">sdf</div>
    <div class="else">else</div>
    <div class="lol">lol</div>
</div>
<hr>
<div>
    <div class="test">test</div>
    <div class="sdf">sdf</div>
    <div class="lol">lol</div>
</div>

$(document).ready(function(){
    $(".test").on({
        mouseover: function(){
            $(this).parent().children('div[class="test"] ~ div[class="lol"]').addClass('hide');
        },
        mouseout: function(){
            $(this).parent().children('div[class="test"] ~ div[class="lol"]').removeClass('hide');
        }
    });
});

(this).parent().find('.lol').addClass('hide');

.test:hover + div + .lol {
    display: none;
}