The National Hockey League and the National Hockey League Players’ Association would both benefit greatly if they were able to make the league more competitively balanced. It would not only help the overall product of the game but also create more interest in National Hockey League cities that currently have perpetually losing teams. In the end, a more balanced league would also help generate more revenue for NHL teams and, in turn, its players. This research helps distinguish the determinants of competitive balance in the National Hockey League. This is the first competitive balance study for the National Hockey League that uses the Herfindahl-Hirschman Index as its basis for determining parity. This study will hopefully act as a stepping-stone for future studies of the determinants of competitive balance in the National Hockey League. Armed with the knowledge of knowing how to improve parity, the league and its players could potentially offer the public a superior National Hockey League product.