The perovskite solid solution between ferromagnetic SrRuO3 and antiferromagnetic LaCoO3 is studied and its structural, electronic,and magnetic properties are compared with (Sr1-xLax)(Ru1-xFex)O3. The lower 3d energy levels of Co3+ cause a local charge transfer from 4d Ru4+, a reaction that has the novel feature of being sensitive to the local atomic structure such as cation order. Despite such a complication, Co, like Fe, spin-polarizes the itinerant electrons in SrRuO3 to form a large local magnetic moment that is switchable at high fields. In the spin glass regime when Anderson localization dominates, a large negative magnetoresistance emerges as a result of spin polarization of mobile electronic carriers that occupy states beyond the mobility edge. A phenomenological model predicting an inverse relation between magnetoresistance and saturation magnetization is proposed to explain the composition dependence of magnetoresistance for both (Sr1-xLax)(Ru1-xCOx)O3 and (Sr1-xLax)(Ru1-xFex)O3 systems.