Match Color Question

How accurate "Match Color" is.

I know that Match Color isn't a magic bullet or anything.

But, does Match Color work best when the clips are similar in exposure?
What's the preferred workflow for using "Match Color" on clips?

I am finding that the "Match Color" doesn't seem to work to accurate for me on some clips.

Let's say I have 2 clips, both shot outdoors in daylight, and that were running from different cameras running at the same time, 1 f them is color corrected and exposed properly.

The other hasn't been touched, but there definitely is a color cast (say green) and exposure (underexposed) problem with it.

When I use "Match Color" on the underexposed clip and select the correctly color corrected clip, the result is not even close to what I would expect. As the colors and exposure (not over exposed) aren't representative of each other.

I have had some good results with similar looking clips.
But not consistent enough to rely on it for a multitude of clips. Copy and paste of effects seems to get me more consistent results.

Match Color is hit or miss. It only looks at contrast and hue, and only in very general terms. So if contrast isn't similar, it won't work. I find contrast to be it's biggest weakness. But sometimes it can give you a place to start.