Space Magenta vs Burnt Red

How close are they?

ΔE 9.4, close: similar, with a visible difference side by side. Burnt Red is a little darker, warmer than Space Magenta.

Can I use Burnt Red instead of Space Magenta?

Usually, if you are not matching paint already on the model. Close match (ΔE 9). Burnt Red is a little darker, warmer than Space Magenta.

Can I use Space Magenta instead of Burnt Red?

The same difference applies the other way round: Space Magenta is a little lighter, cooler.

ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.