I have a 5 ohm speed pot to wire I ran a three wire shielded cable red, black, white, what is the proper color wiring.

Not enough information. What wire goes to what pot terminal depends on how the OTHER end of the cable is connected.

If I was wiring the whole system, I would wire it as follows, just out of habit:

Red---Positive voltage
Black ---Negative voltage (or ground)
White---Pot wiper (to drive speed input signal)

Typically, the Positive supply voltage goes to the CW terminal of the pot. This way, CW rotation produces a positive output voltage, and increasing speed. But this is subject to the specifics of your installation.

If this is a speed control pot for use with a VFD or something like that, typically it is set up as a variable voltage divider across a DC reference supply, to provide a 0-5V, 0-10V, +/-5V, or +/-10V speed command signal. You should ground the shield only at the drive end, and leave it float at the pot end.

5 ohms is a very low value for a speed control pot. Are you sure you don't mean 5 kilohms (5,000 ohms)?

Agree with NJwirenut per the Colors -vs- Position on the Pot (Potentiometer).

With the Device's Shaft facing towards you:

1. "RED" - to "Left-Side" of the Resistor (Terminal #1), for the Input Lead (DCV+ / Vss),
2. "WHITE" - to the "Center / Wiper Lead" (Terminal #2), for the Loop-Back Lead,
3. "BLACK" - to the "Right-Side" of the Resistor (Terminal #3), for the Ground Lead (DCV- / Vcc).

Terminate the Drains & Shields of all Cables at one common point. Isolate the Drain and Shield at the Pot, with Electrical Tape.

-- Scott