Magnet
Rare earth (lanthanoid) elements have a partially occupied "f" electron shell (which can accommodate up to 14 electrons). The spin of these electrons can be aligned, resulting in very strong magnetic fields, and therefore, these elements are used in compact high-strength magnets where their higher price is not a concern. The most common types of rare-earth magnets are samarium-cobalt and neodymium-iron-boron (NIB) magnets.
Diamagnetism
Diamagnetic materials, like water, or water-based materials, have a relative magnetic permeability that is less than or equal to 1, and therefore a magnetic susceptibility less than or equal to 0, since susceptibility is defined as . This means that diamagnetic materials are repelled by magnetic fields. However, since diamagnetism is such a weak property, its effects are not observable in everyday life. For example, the magnetic susceptibility of diamagnets such as water is . The most strongly diamagnetic material is bismuth, , although pyrolytic carbon may have a susceptibility of in one plane. Nevertheless, these values are orders of magnitude smaller than the magnetism exhibited by paramagnets and ferromagnets. Note that because χ is derived from the ratio of the internal magnetic field to the applied field, it is a dimensionless value.