Identify the correct statements from the following.

Diamagnetism arises due to the induced change in the orbital motion of electrons when an external magnetic field is applied. It does not arise from permanent magnetic moments. Thus, statement (1) is incorrect.

According to Lenz's law, the induced magnetic moment in a diamagnetic material develops in a direction such that it opposes the applied magnetic field. Thus, statement (2) is correct.

In free space, the magnetic induction $B$ and magnetizing field intensity $H$ are related by $B = \mu_0 H$. If a magnetic field exists in free space, $H$ is non-zero. Thus, statement (3) is incorrect.

Since all materials are made of atoms containing orbiting electrons, diamagnetism is a universal property present in all materials. In paramagnetic and ferromagnetic materials, the weak diamagnetic effect is simply masked by stronger magnetic effects. Thus, statement (4) is correct.