The Peridot is associated with harmony, good health, restful sleep, and peacefulness. It is known as the stone of compassion, peridot calms anger by giving renewal to all things.
It is said that, when this gem in this birthstone ring is set in gold it would protect the wearer from nightmares. It should free the mind of envious thoughts that can damage and strain relationships. It is also said to help with depression.