If you are fishing for bass on heavy cover the answer is no. Dark murky water fishing, also no. For most other types fishing, line color can make a big difference in the number of bites you are likely to get. Line diameter also can play a major factor in your success. Clear line works well in most all situations but it is hard to see for the angler. Hi-Vis line is made for line watching techniques where seeing your line move is the way strikes are indicated. Lo-Vis line, somewhere in between can be good for line watching techniques like fishing a soft plastic worm Texas rigged as an example.

i think it does

Exert-7 said it all. I just want to add that red line is a fraud. It doesn't disappear no matter how deep it goes down. It just becomes "black" since the color red is filtered out. You can try it yourself if you are willing to do some underwater experimenting.
Tight lines!

LuckyDagger actually has it backwards.

Red line is VERY visible the first 10-15 FT. After 15 FT, it begins to fade but is still "visible" as a "shadow".

Recently, I read an article on "red" line in In-fisherman Mag, where they did testing on Mono, "red" lines" and compared "diameter" & Flurocarbon's.

They tested Mono, Fluro, Red Mono, & Braided lines.

They criss-crossed various lines through a tank to see how many times the Bass would touch or run into each line. (Fish will almost NEVER purposely swim into obsticles)

Fluro lines graded the best with many "hits".

Green colored Mono lines graded 2nd best.

Braided lines-3rd.(They were using the same "diameter" as the mono & Fluro. When they switched to 3/8 Berkley Fireline, THAT braid came in 2nd!)

Red lines came in last.

That info should tell you something!

If you want "stealth", choose Fluro or low diameter Braid. (period)