@MudassirAli, the technique described by @BrianJ can be taken a further step if needed.
I have a report that was created to make reports for different customers, and the color of the conditional formatting (used in more than one table in the report) needed to change to compliment the customer’s branding.
So, I created a measure that is called ConditionalColor - and I call that in the Conditional Format measure, so (for instance) instead of “Red” in the example above, the color for < -0.50 would be [ConditionalColor].
With this trick, I just change the color in the ConditionalColor measure and it adjusts all the necessary tables when creating a different version with a new color scheme.