Say there is some correspondence between $x$ and $y$. If we know that $\lim\limits_{x\rightarrow0}y=0$, we can safely say that "$y$ approaches zero if $x$ approaches zero" without causing confusion. It also seems that the notation $$y\rightarrow0\quad(x\rightarrow0)$$ is accepted as a convention in formal writings, which indeed is not ambiguous at all.
However, if we both have $$y\rightarrow0\quad(x\rightarrow0)$$ and $$x\rightarrow0\quad(y\rightarrow0)$$ is it acceptable to write $$y\rightarrow0\Leftrightarrow x\rightarrow0$$ ?
Usually $P\Leftrightarrow Q$ is understood as a logical assertation involving the truth of propositions $P$ and $Q$. However, here $y\rightarrow0$ and $x\rightarrow0$, when isolated, are not propositions. Hence, I'm concerned whether "$\Leftrightarrow$" is by convention acceptable in a formal context or being abused. If it is not acceptable, is there a concise but proper way to make the assertion?