ΔE 27.6, loose: different enough that you should pick on purpose. Ruby Red is a little lighter, much more muted than Flag Red.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 28). Ruby Red is a little lighter, much more muted than Flag Red.
The same difference applies the other way round: Flag Red is a little darker, much more saturated.
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 Flag Red on the colour wheel See Ruby Red on the colour wheel
All matches: Flag Red equivalents · Ruby Red equivalents