Correct use of HDR video file (REC 2020)

Hi everyone!
I'm writing this post because I want to understand how to configure correctly a project with HDR files.
It's the first time that I use 4k HDR video file (mp4) coming from a Smartphone (Oppo Find X3 Neo). With these clips, I'm using clips coming from my Canon 6D camera (full HD, mp4).

I'm editing with a MacBook Pro 16" M1 Max.

Everything is ok, but looking the images, these 4k clips coming from my smartphone are really strong in terms of color saturation. On the same time, clips from Canon 6D are not so clear and strong.
I configured my library with HDR setting (Wide gamut) and so the project (REC 2020).
But I see that the image doesn't appears clear. Looking on this screenshot you can see the strange color of the skin tones of people. It's like one unique color... not so clear.

Looking on YouTube I see a lot of tutorials about working with REC 709 projects using HDR clips (REC 2020).
But I'm confused. What Is the best way to work? I was thinking that is better to create HDR projects for HDR final exports... not to downgrade the HDR videos coming from my smartphone.
Can anyone help me on this topic please?

Do I need to change the color of every clip (luma settings)?
thanks to everyone.

Watch Mark Spencer’s videos on working with HDR in FCP.

I saw these YouTube video, I will look its again.... but I think they explain how create project on REC 709 with iPhone files that are REC 2020.

Which form of 2020 is it? If your going out to the same HDR you won’t need HDR Tools clearly. Is the video in a format that needs a LUT applied?

Hi Tom and thanks a lot for your reply.
I gave a Loog on this first video you shared

Tom Wolsky wrote:

Watch Mark Spencer’s videos on working with HDR in FCP.

I understood this first point: if you have a lot of REC709 video clips and only some in REC2020 (HDR), you can choose a standard REC709 library, a standard REC709 project and then, importing your HDR clips you can add on these the "HDR Tool", a filter/effect present on the color section of the effects window.

Second point I understood is that if you want to export a video on HDR format, you have to use the option to export the master file and not the YouTube one or others similar to this.
It will be YouTube that receiving our master file with HDR metadata, will present the correct option to the users based on their monitor capabilities.

Then I started to look the second video you posted:

Tom Wolsky wrote:

 

Here Mark starts again explaing the differences between the two file types ... but is strange because he said that with an HDR monitor you can't see differences between the two files... but with my MacBook Pro I see these differences as I said before.

Tom Wolsky wrote:

Which form of 2020 is it? If your going out to the same HDR you won’t need HDR Tools clearly. Is the video in a format that needs a LUT applied?

Tom, thanks for your reply again and thanks for your help.

First of all, I want to clarify to you that I don't have any experience with these HDR video clips, I'm starting to use it just now. I'm trying to understand what have to be my future workflow with these files.

Now is clear that for every project I will create in the future starting with my old footage like Full HD video clips coming from HDV MiniDV tapes or MXF files Full HD coming from my old Canon XF100 camera, I will create standard REC709 project. In case of mix with some HDR clip (like an external video used to improve my video scenes quality) I will adapt these external HDR clips with the HDR Tool effect of FCPX.
 
For me is not clear what is better to do for every project that has more video clips with HDR quality, like the one I'm working today. Is better to loose their quality working with a REC709 project and the HDR Tool?
Or is better to use the REC2020 setting and find a way to scale the clips without HDR quality? Is it possible? (I don't think so).

Overall, my first question was this.
Creating an HDR library and an HDR Project, why I see my HDR clips so over exposed and over saturated like you can see on the screenshot ?

Dear Tom, following these tutorial, I used the HLG option for the project instead of the standard REC2020.
Now the clips are not over exposed and over saturated... but they are "under exposed now".

You should make the project what you need to deliver. If you need 709 make the project 709 regardless of the number of clips of which tour you have. If HDR out then use that for the project and do the best you can to make the SDR work. 

Hi Tom, the point was just that one: I'm trying to understand what is the best way to export a project today, in terms of best possible quality.

Now my opinion is this one: smartphones today creates good 4k videos with a sort of HDR option, but it is a compromise because of dimensions of their lens.
So smartphones like mine (Oppo Find X3 Neo) or like iPhone 12 creates good videos but not so great. So it's not so useful to create HDR video with their clips only. You can do that, but you need to know that they are a compromise (HLG not real HDR). So it's a good quality, but not the best HDR possible quality made with a real videocamera.

Looking on my situation, where I have video coming from an HDR smartphone's clips and standard Reflex's clips, it's better o to create an SDR library, with a standard project REC709 and force the downgrade of the HDR clips on REC709 with inspector.
Upscale the reflex files to REC2020 is not a good idea (they don't have the metadata to do this)... And more of this, to create an HDR video starting from HLG clips of a smartphone... Iso not so quality oriented option. Do you agree?

Who is going to see your exported file, and how are they going to see it? I think that’s really all that matters. I honestly don’t much care about the difference between HLG and and other HDRs. If your viewers are concerned about or conscious of the differences I think they’ve lost the plot.

Actually my video is a first tentative of editing. So it contains images from a family's party. So for me is not important who will look on it today or tomorrow. I can create low version for them. I was interested to find the best way to create a master file that could be saved for the future.
These memories will be the story of our children....

Hi every one.
I re-up this topic because after a first video, I edited a second one.
The library is set for wide gamut.
The project is set for HDR video (2020).
My clips coming from my Oppo Find X3 Neo appears over exposed and over saturated.

Trying to correct them in terms of color correction (saturation and luminosity), something is going wrong, because is like that the corrections are applied only on some part of the image that is not... correctly defined. Is hard to explain, mybe is better if I post some screenshot.

Someone has experience on this kind of editing?