Contactless vector network analysis based on a diversity calibration is investigated for the measurement of embedded devices in planar circuits. Conventional contactless measurement systems based on two probes for each measurement port have the disadvantage that the signal-to-noise system dynamics strongly depends on the distance between the contactless probes. In order to avoid a decrease in system dynamics a diversity based measurement system is presented. The measurement setup uses one inductive and two capacitive probes. As an inductive probe a half magnetic loop in combination with a broadband balun is introduced. In order to eliminate systematic errors from the measurement results a diversity calibration algorithm is presented. Simulation and measurement results for a one-port configuration are shown.