i'm not sure the ring's name ,but 2:00-5:00 :increase str\agi\int
6:00-7:00:restore hp and mp, about 6%?
this set's function is possibly reducing CD

19:00-23:00: reduce 10% damage you suffer
24:00-1:00 : increase 50% (damage penetration?)
this set's function is possibly reflecting damage

BTW,you can click the clock to change to the 24h type clock