Magnetic dipole–dipole interaction
Magnetic dipole–dipole interaction, also called dipolar coupling or dipolar interaction, refers to the direct interaction between two magnetic dipoles. Roughly speaking, the magnetic field of a dipole goes as the inverse cube of the distance, and the force of its magnetic field on another dipole goes as the first derivative of the magnetic field.
Source: Wikipedia — Magnetic dipole–dipole interaction (CC BY-SA 4.0)