ΔE 22.9, loose: different enough that you should pick on purpose. Devil Red is a little lighter, much more saturated, cooler than Magenta.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 23). Devil Red is a little lighter, much more saturated, cooler than Magenta.
The same difference applies the other way round: Magenta is a little darker, much more muted, warmer.
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.
See Magenta on the colour wheel See Devil Red on the colour wheel
All matches: Magenta equivalents · Devil Red equivalents