ΔE 10.2, fair: the same colour family, but not a straight swap. Ink Red is a little darker, more muted than Transparent Magenta.
Only where an exact match doesn’t matter, such as a new unit or a highlight. Fair match (ΔE 10). Ink Red is a little darker, more muted than Transparent Magenta.
The same difference applies the other way round: Transparent Magenta is a little lighter, 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 Transparent Magenta on the colour wheel See Ink Red on the colour wheel
All matches: Transparent Magenta equivalents · Ink Red equivalents