The design of this raven is very closely modeled after actual Viking artwork. Hugin and Munin were the ravens of Odin, serving as scouts and his eyes throughout the world. Because of this, ravens have always been very popular in Viking art, and are revered not only for their connection to Odin, but also for their intelligence and cunning. The Vegvisir, also known as the "runic compass" or the Viking compass made of eight Viking rune staves, is a symbol of protection and guidance believed to be used as a compass by Viking people. The word vegvisir means "wayfinder" and "sign post" in Icelandic language. 

So overall, this pendant represents protection, perception, cunning, and being watched over by Odin.