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Samples consisting of one ferromagnetic and one diamagnetic component which are immiscible at the thermodynamic equilibrium (Co-Cu, Fe-Cu, Fe-Ag) are processed by high-pressure torsion at various compositions. The received microstructures are investigated by electron microscopy and synchrotron X-ray diffraction, showing a microstructural saturation. Results gained from microstructural investigations are correlated to magnetometry data. The Co-Cu samples show mainly ferromagnetic behavior and a decrease in coercivity with increasing Co-content. The saturation microstructure of Fe-Cu samples is found to be dual phase. Results of magnetic measurements also revealed the occurrence of two different magnetic phases in this system. For Fe-Ag, the microstructural and magnetic results indicate that no intermixing between the elemental phases takes place.