Only a full respray will fix your issue permanently.

A good polish will make it look good again for a few weeks, then you gota wash and redo.

I love red cars, I have been tackling this issues since my 1st red EM1 9 years ago. It does turn out to look pink after awhile.

Just keep waxing it once a month and no one will know anybetter. If your down for it a closed door respray in the south west will cost you only 2k cash in factory colour.