There is a pretty distinct trade of with stainless, strength/harden-ability against corrosion resistance. It is pretty obvious with knife blades as well.
200 series are ferritic (like low carbon mild steel). Cheap and some corrosion resistance, not heat treatable.
300 series are austenic, which is non magnetic and reasonable corrosion resistance. The L (low carbon) versions are preferable for welding.
400 series have a higher carbon content to allow the formation of martensite, basically providing harden-ability through heat treatment.
There are newer materials that do have better (different) properties to the above. Duplex stainless (a mixture of ferritic and austenitc) such as 2205 has much better corrosion resistance and better strength than 316, but is harder to work. There is also precipitation hardening stainless which have their own unique properties.
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