At some point and time every color in the spectrum could be the right color
but to simplify things
Try to match the colors of natural pray for the water you are fishing and think of how the natural bait would look in the water .
Example sunny clear water would be a bright flash like chrome and silvers .
gin stained water may be bronze or gold tones
Then add some florescent for coffee stained water like chart or fire tiger , hot pink this could just be florescent high lights not necessarily solid
But as mentioned some times the hot color may be one that stands out from the norm .
example florescent s on bright sunny days in clear water