MAGIC is a system of two Imaging Atmospheric Cherenkov Telescopes sensitive above ~60 GeV, and located on the Canary Island of La Palma at the height of 2200 m.a.s.l. Since Autumn 2009 both telescopes are working together in stereoscopic mode. We use both Crab Nebula observations and Monte Carlo simulations to evaluate the performance of the system. Advanced stereo analysis allows MAGIC to achieve a sensitivity better than 0.8% of the Crab Nebula flux in 50 h of observations in the medium energy range (around a few hundred GeV). At those energies the angular resolution is better than 0.07{circ}, and the energy resolution is as good as 16%. We perform also a detailed study of possible systematics effects for the MAGIC telescopes.
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