The HP value (hardening power) is one method to relate the quenching characteristic of an oil with the hardening result, in form of hardness of the workpiece. Based on measurements according to the standard ISO 9950 for oil, a formula has been derived which gives the HP.
The quenching characteristic is based on the cooling curves and cooling rate curves. In these curves, three points are the most critical and is shown in the figure below.

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HP = 91,5 + 1,34·TVP+ 10,88·CR - 3,85·TCP
An oil with a higher HP value is more fast quenching and will give a higher hardness and thereby higher strength.