Techniques are disclosed for determining a preferred hashing algorithm for load balancing physical interface utilization in a network device, such as a switch, configured with a port-channel architecture. While a current hashing algorithm is being applied to network traffic flows, a forwarding engine of the network device retrieves snapshot data of each flow and evaluates the flows against other hashing algorithms. The forwarding engine, for each hashing algorithm result, calculates statistical measures, such as mean, variance, and coefficient of variation. These measures are used to determine the preferred hashing algorithm to subsequently be applied. Once determined, the networking device may notify a user (e.g., a system administrator) of the algorithm.