Complex conjugate impedance matching is a key concept for wave energy converter design. Matching the impedance of the power take-off (PTO) system to the complex conjugate of the wave energy converter's (WEC) impedance ensures efficient transfer of energy from the WEC body motion to electrical power. In low frequency waves, impedance matching often requires a negative PTO stiffness. In this paper, an adjustable stiffness magnetic torsion spring will be presented and modeled to understand its potential to improve WEC performance. The spring has the ability to provide a negative stiffness, allowing the PTO impedance to more closely match the complex conjugate of the WEC impedance at low frequencies. The spring also supports an adjustable stiffness value, meaning it can be tuned according to the incoming wave conditions. The spring's tunability may put less stress on the rest of the PTO system in wave conditions outside its normal operation zone without sacrificing electrical power output. The adjustable magnetic spring's effects are modeled and explored in this paper by examining the resultant average annual electrical power and capacity factor. The study suggests that the tunable magnetic spring has the potential to significantly improve capacity factor while maintaining a high average electrical power.