So...double the distance = 1/4 the field strength. I'll go play with the numbers on the vendor sites. Most of the sensors seem to require a very low magnetic field to quit conducting. That's probably the best part for a design engineer. Small cheap magnet activates sensor at less than 1/2 inch and rapidly seems to disappear as it moves away.Inverse square might be a good starting point, depending on the material the magnet is mounted in.
I thought I defined the material. The plastic and water seem magnetically transparent to me.
How many plastics inhibit magnetic fields and what engineer would design a water flow wheel with a sort of plastic that is known to interfere with the magnet which is inside it?
Then again, who would mix talc into the plastic to be sure a fan blade would disintegrate in time to sell a car owner a new fan? (General Motors)