The term magnet is typically reserved for objects that produce their own persistent magnetic field even in the absence of an applied magnetic field. Only certain classes of materials can do this. Most materials, however, produce a magnetic field in response to an applied magnetic field – a phenomenon known as magnetism. There are several types of magnetism, and all materials exhibit at least one of them.

The overall magnetic behavior of a material can vary widely, depending on the structure of the material, particularly on its electron configuration. Several forms of magnetic behavior have been observed in different materials, including:

Ferromagnetic and ferrimagnetic materials are the ones normally thought of as magnetic; they are attracted to a magnet strongly enough that the attraction can be felt. These materials are the only ones that can retain magnetization and become magnets; a common example is a traditional refrigerator magnet. Ferrimagnetic materials, which include ferrites and the oldest magnetic materials magnetite and lodestone, are similar to but weaker than ferromagnetics. The difference between ferro- and ferrimagnetic materials is related to their microscopic structure, as explained in Magnetism.
Paramagnetic substances, such as platinum, aluminum, and oxygen, are weakly attracted to either pole of a magnet. This attraction is hundreds of thousands of times weaker than that of ferromagnetic materials, so it can only be detected by using sensitive instruments or using extremely strong magnets. Magnetic ferrofluids, although they are made of tiny ferromagnetic particles suspended in liquid, are sometimes considered paramagnetic since they cannot be magnetized.
Diamagnetic means repelled by both poles. Compared to paramagnetic and ferromagnetic substances, diamagnetic substances, such as carbon, copper, water, and plastic, are even more weakly repelled by a magnet. The permeability of diamagnetic materials is less than the permeability of a vacuum. All substances not possessing one of the other types of magnetism are diamagnetic; this includes most substances. Although force on a diamagnetic object from an ordinary magnet is far too weak to be felt, using extremely strong superconducting magnets, diamagnetic objects such as pieces of lead and even mice[19] can be levitated, so they float in mid-air. Superconductors repel magnetic fields from their interior and are strongly diamagnetic.
There are various other types of magnetism, such as spin glass, superparamagnetism, superdiamagnetism, and metamagnetism.