Hemalyke is a synthetic stone that looks exactly like hematite, and has the same properties. Though this synthetic stone might not hold the same spiritual properties as a natural one, both hematite and hemalyke have iron oxide as their main ingredient. Hemalyke, however, tends to be less brittle.

Hematite is said to be a calming and grounding stone. It keeps us focused on the present and provides mental clarity. Hematite is believed to relieve stress, boost self-confidence, improve memory, repel negative energy, and even cleanse the blood. Hematite is associated with the Zodiac signs of Aries and Aquarius. It is given as a gift for the 11th wedding anniversary. Hematite is the official mineral for the State of Alabama.