This study applied a body of knowledge derived from the common core thesis of mysticism to investigate the hypothesis that similarities in belief significantly contribute to the appearance of overlap between mystical and positive dimension schizotypal phenomena. Data from 211 university students who completed Hood's Mysticism Scale and Eckblad and Chapman's Magical Ideation Scale were submitted to correlational analyses. Contrary to the hypothesis, results indicated that positive schizotypy correlates more strongly with the experiential dimensions of mysticism than with the interpretive dimension of mysticism. These correlation differences suggest criteria for distinguishing mystical and schizotypal experiences and identify specific points of overlap. Suggestions for future research into this relationship, and implications for schizotypy research, are noted.