Using two matrices do not make it hybrid, one as to be matrix while the other will serves as reinforcing phase. By hybrid we mean using two or more reinforcing phases with better properties than the matrix.
You can add magnesium to Al to obtain Al-Mg alloy not hybrid. In hybrid you must combine two reinforcing phases either particulate/whisker, particulate/particulate etc.to develop hybrid MMCs
Just to add to what Owoeye Seun wrote, you may want to explore the properties of both Aluminum and Magnesium in a composite material. The best way to go about it is to look at Al-Mg phase diagram and develop an alloy close to the properties you desire. You can now select combination of two or more reinforcements in order to achieve hybrid composites, if you use a single reinforcement with Al-Mg alloy, it cannot be referred to as hybrid composites.
Two matrix and two reinforcement also possible Rajnitu Rakshaskar sir... some experimental articles available google scholar. In this experiment, fabrication method is very important to mixing the matrix and reinforcement phases. i suggested you; stir assist with ultrasonic or Squeeze gives better results.