Colours - Five Elements

Did you know that in metaphysics the five elements (Wood, Fire, Earth, Metal and Water) are represented by colours?

Wood is represented by Green.

Fire is represented by Red, Pink or Purple.

Earth is represented by Brown, Orange or Yellow.

Metal is represented by Grey, Silver or White.

Water is represented by Black or Blue.

In the five elements' Productive Cycle theory, it states Wood produces Fire, while fire produces earth, earth produces metal, metal produces water and water produces wood. And the cycle continues.

In the five elements' destructive cycle theory, Wood attacks Earth, while earth attacks water, water attacks fire, fire attacks metal and metal attacks wood. And the cycle continues.

Of late, I saw intensive competition amongst three competitors. Each competitor has their own unique identity :- colours. Judging from the market sentiment, it seems like the strongest competitor is represented by red.

I wonder whether the chosen colours has affected destiny of each competitor?