The quick answer to this question is – no. Mood rings are not associated with either the New Age or the occult.
For those of you who are too young to remember them, mood rings became popular during the 1970’s when two New York inventors, Josh Reynolds and Maris Ambats, filled a fake gemstone with a liquid crystal thermometer and mounted it into a ring. Changes in air or body temperature would cause the crystals to reflect different wavelengths of light which would result in changing the color of the stone. These colors were said to be associated with certain moods.
For example, violet violet was a happy/romantic mood; blue meant you were calm and relaxed; green was neutral; and yellow meant you were tense or excited. A brown color was said to indicate a person who was nervous or anxious.
Is there any scientific proof that these colors are really associated with particular moods.
Of course not. Mood rings were nothing more than a fad – and a somewhat pricey one at $45 a ring, which was expensive for the inflation-wracked consumer of the 1970s.
However, this is not to say that New Agers didn’t latch on to the fad and saturate it in their customary mumbo-jumbo.
For instance, this site, which belongs to Healthy New Age (as if there is such a thing) suggests that the wearer “Seek inner guidance . . .when discerning what the mood ring colors mean for you.”
They go on to say that “From a chakra point of view, yellow corresponds to the third chakra energies so perhaps it could also indicate a time when you are in some sort of ego, or personality self, struggle or a time when you are really busy putting on a particular mask for someone.”
The same site claims that if a ring turns black, which usually means negativity, but the wearer is feeling "extraordinarily connected, benevolent and aware, then I’d say that’s the Divine Feminine influence and certainly not negative.”
In other words, the mood ring is basically just a gimmick but it could be used to promote non-Christian beliefs.
My advice would be to wear it just for fun, without taking it seriously, or not at all.