ΔE 41.9, loose: different enough that you should pick on purpose. Squid Pink is noticeably lighter, warmer than Purple Rain.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 42). Squid Pink is noticeably lighter, warmer than Purple Rain.
The same difference applies the other way round: Purple Rain is noticeably darker, 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.
See Purple Rain on the colour wheel See Squid Pink on the colour wheel
All matches: Purple Rain equivalents · Squid Pink equivalents