It's diamagnetic. You can make another notable diamagnetic material using high temperature, low pressure deposition of carbon. Pyrolytic carbon it's called.

https://en.wikipedia.org//wiki/Diamagnetism

A diamagnet opposes any other magnetic field with one oriented 90 degrees at both axes, meaning that it repels away from any magnetic field. They don't do anything notable to other diamagnets of course, they simply redirect magnetic flux lines, and yes, they levitate above magnets, no matter which direction they are pointed.

Rare earth magnets are high magnetic permeability materials, but diamagnetic materials are pretty rare, at all, and certainly so far nothing nearly as strong as the difference between ferrite and a rare earth magnet.