I think the OP is really asking about the diff between RGB and YCrCb. MC used to mis-label things as RGB and 601/709, which is a totally different meaning than color space. In RGB color space, the primaries are carried in 3 channels, one each for R and G and B. In YCrCb, the primaries are carried as Y-luminance, Cr and Cb are mathematical differences in the color signals. Most cameras record in YCrCb. One can mathematically convert from one to the other, but, there are always errors due to roundoffs. Look up the two on Wikipedia for a deeper explanation.