Hematite- Good for Pendulums?

I'm thinking about making my own pendulum.
Hematite I like as beads because some are magnetic and stick together (which if this was to be a bracelet it would be a plus)

But I fear they may be picking up on anything in the area that's metallic (even slightly) and react to it rather than to my own subconscious/higher divine.

Am I overthinking this? Or is that a possibility?

Good question. Electromagnetic waves can affect metals at great distances. This was the principle behind early wireless telegraphy, which used a tube of silver filings to detect telegraph signals. The effect on a piece of hematite might be negligible, but it would be hard to determine, since the ether is jam packed everywhere with such waves.

I think Hematite would make a nice, grounding pendulum. However, be aware that the magnetic stones being sold as "hematite" are actually man-made.

There IS a magnetic stone, called Lodestone, that is a natural magnet (even if it's not extremely strong). It is closely related to the real Hematite (and they are similar colors), as they are both forms of iron oxide.

There are multiple types of (non-magnetic) imitation hematite, as well. If you see the trade name Hemalyke, that one is a man-made imitation, as is Hematine.

http://en.allexperts.com/q/Jewelry-Gems-Minerals-689/Real-vs-Fake-Hematite.htm
http://van.physics.illinois.edu/qa/listing.php?id=357

I have a hematite pendulum. It works great and it's one of my favourites.

If it calls to you, get one. If not, no worries.