Is there color coding of the ball in badminton?

In simple terms, the shuttlecock's colour indicates suitablity for the Badminton court's temperature.

The colours or rather the colour band towards the bottom of the shuttlecock is indicative of the ambient or optimum temperature of the badminton court which determines preference or selection of a particular coloured shuttlecock. This determines the shuttlecock's performance

In relative terms,

Red = Fast; Blue is Medium; Green = Slow. Often times, i simply go for the blue banded birdies.

I wish I had the telemetry specifics to post here.