While comparing Diamond and Magnetite physical properties, the important data you should know is its chemical composition. Since chemical formula defines the molecular structure of the crystal, most of the physical properties like color, tenacity, solubility are governed by Diamond and Magnetite chemical formula.
Another important criteria for qualitative analysis of gemstones is Diamond and Magnetite Specific gravity. Specific gravity is the relative density of a gemstone compared with respect to density of water. Gemologists use Diamond and Magnetite Optical Properties during the identification of gemstone. Specific gravity of Diamond is 5.2 whereas that of Magnetite is 5.2.