1. A method for determining a location and characterization of an object using a magnetic gradient tensor measurement of the object, said method comprising: determining an object magnetic field candidate predicted from one of an object measured magnetic field gradient and an assumed object magnetic moment magnitude; determining an object vector location and an object vector magnetic moment by combining the object magnetic field candidate with an object measured magnetic field; determining a plurality of magnetic field candidates, each of the plurality of magnetic field candidates predicted from one of an object measured magnetic field candidate and an assumed object magnetic moment magnitude; and computing a plurality of correlation coefficients, each of the plurality of correlation coefficients corresponding to a different one of the plurality of magnetic field candidates and the object measured magnetic field, wherein each of the plurality of correlation coefficients is calculated according to the formula C=(B T {tilde over (B)} i )/({tilde over (B)} i T {tilde over (B)} i ) where C is a correlation coefficient, B T is a measured magnetic field, {tilde over (B)} i is the predicted i th magnetic field candidate and i is a number of candidates.