Theory of magnetic fluid heating with an alternating magnetic field with temperature dependent materials properties for self-regulated heating Recently, unusual magnetic properties were found experimentally in otherwise diamagnetic nanoparticles. Our experiments and analysis revealed that a universal expression can describe the size-dependent magnetic moments in ultrafine diamagnetic systems, including Au, Pd, and HfO 2 nanoparticles. A model was presented to explain the observed phenomenon. It suggested that the up and down spins in ultrafine diamagnetic systems are spatially separated and form asymmetric spin-singlet pairs. The correlation lengths of the spin-singlet pairs in Au, Pd, and HfO 2 nanoparticles were estimated to be about 1.65, 13, and 4.4 nm, respectively. On the basis of this model, we explain (a) the origin and the size dependence of magnetic moments in diamagnetic nanoparticles, and (b) the origin of the extremely large anisotropy in diamagnetic nanoparticles.