color grade

The video below might put a different perspective on color correction. 

https://www.youtube.com/watch?v=nWjaEZLbdGk

Like R Neil said, there is no magic trick to color grading: it's both an art and a science. The science is in getting all clips to match (color correction), while the art gives it a special creative look (color grading). A LUT is a fixed treatment to video or film footage, so it will not magically make everything correct nor great.

Color grade? How do you know it is not a straight out of the camera look? I doubt it is straight from the camera but how would you know? The video you posted will propably look different on my laptop as opposed to an iPad. I am working on a video that will put color correction in a new perspective. 

There's no magic LUT that makes everything better ... LUTs are "dumb" math, they're just a lookup table. A list of input values that are changed to a different output value. A table of numbers ... that's all.

So you would have to have a LUT that did the correct color changes and tonal changes for each clip. But each clip will need different changes to match the others. Back to your linked video, notice the difference in color between the two cameras on the interview clips? That would need to be fixed by the person working the sequence.

Neil

That's not to me a great grade ... note how in the talking-head interview, a two-camera multicam clip workflow: the two cameras are not properly matched, one is more yellow than the other.

And through the video, the levels are sometimes rather dark-ish, sometimes quite a bit lighter. There's not really a good continuity of tonal values for the old eyeball.

There are quite a few tutorials on say YouTube for handling color, some are even actually decent.

It's a multi-step process.

First step: neutralize all media of the project to the same general contrast and neutral color cast. You need to use the scopes a LOT for this ... darks should be similar clip to clip, whites also similar on the scopes. Color should be giving you neutrals (things that should be black/gray/white that are neutral in the say RGB Parade scope and centered in the Vectorscope YUV.

Second: pass through again, more closely matching one clip to the one before and the one after. You should be able to play through without any clip jumping out for color/tonal differences unless you want it to.

Third: go to the clips that need additional work, such as a specific area that needs lighter/darker, something, and take care of those bits.

Fourth, and optional  ... give another pass or an Adjustment Layer to the project that gives the whole project a bit of a feel or particular look.

Neil