The fundamental goal of this study is to scrutinize the flow and the heat transfer performance of Reiner-Philippoff hybrid ferrofluid (magnetic nanofluid) magnetite-cobalt ferrite/water, magnetite/water, and cobalt ferrite/water with radiation effect past a permeable stretching/shrinking sheet. Different variations of Bingham number, Reiner-Philippoff parameter, and radiation effect are examined to estimate the thermal progress across the fluid at the boundary layer when the sheet is shrunk and stretched. The governing fluid flow model is remodeled into a nonlinear set of ordinary differential equations via transformation of similarity. The new transformed system is numerically solved aided by MATLAB's bvp4c solver. Within a certain set of physical parameters, two distinct solutions can be generated. Hybrid ferrofluid has been shown to have an improved heat transfer performance when the sheet is shrunk compared to mono ferrofluids. The laminar state of the flow can be maintained efficiently when a hybrid ferrofluid is considered. The radiation parameter can be used to enhance the thermal progress except when the sheet is shrunk. The first solution has been shown to be stable by stability analysis.