The two formats are closely related but distinct. A diamond by the yard necklace typically features smaller stones set at wider, more irregular intervals with a very fine chain, designed to look almost like floating diamonds. A station necklace tends to have more defined settings, more evenly measured spacing, and a slightly more structured appearance. Both layer exceptionally well and work across the same contexts, but the station necklace reads as slightly more formal while diamond by the yard leans more minimal.