CoFe-AgCu granular films of compositions ranging from 0.17-0.44 ferromagnetic atomic concentration were prepared by rf sputtering. The microstructure and the transport and magnetic properties suggested that this family of samples can be classified into two groups with a crossover concentration at about 32 at. %. The experimental results for samples Co34Fe8Ag54Cu4 and Co18Fe8Ag70Cu4, which are representative of both different behaviors, are discussed. For the as-prepared sample with higher CoFe content, an uncompensated out-of-plane antiferromagneticlike microstructure with dominant demagnetizing interactions was observed. The particle growth through the annealing led to large in-plane ferromagneticlike clusters with dominant magnetizing interactions. The thermal dependence of the remanence-to-saturation ratio of the as-prepared and annealed samples indicated the existence of a high degree of magnetic correlations leading to a very low magnetoresistivity: In none of the cases was a Stoner¿Wohlfarth behavior observed. On the contrary, for the sample with lower CoFe content, the magnetoresistivity change was much higher, and the remanence followed the expected behavior, since magnetic correlations were strongly reduced through dilution.