1. A vision system for a vehicle, said vision system comprising: a color camera disposed at a vehicle and having a field of view exterior of the vehicle, wherein said color camera comprises an imaging array having a plurality of photosensing pixels and at least one color filter disposed in front of at least some of said photosensing pixels; and an image processor operable to process image data captured by said color camera, wherein processing of captured image data by said image processor comprises utilization of a color correction algorithm that includes a color correction matrix.