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We investigate the statistical properties of flare and starspot-induced variabilities of red dwarf stars in the open cluster M37, particularly (1) understanding magnetic activity phenomena that are seen in groups of stars (with the same age and mass) and (2) the correlations among activity indicators. The use of both tracers is particularly useful for statistical studies since it can provide more homogeneous information about their activity behaviors. We recalibrate the archival imaging data of the M37 obtained by one-month observing run with MMT/Megacam camera, i.e., Deep, High-cadence and Long-term monitoring survey. To detect any significant variability from cool objects, forced photometry with our multi-aperture indexing technique is applied to the entire time-series images. In this contributed talk, we present an update on flare and rotational statistics of this cluster and further strong evidences that support the classical age-rotation-activity paradigm.