A system of wavelet collocation upwind schemes is constructed for solving hyperbolic conserva-tion laws based on a class of interpolation wavelets. The bias magnitude and symmetry factor are defined to depict the asymmetry of the adopted scaling basis function in wavelet theory. Effects of characteristics of the scaling functions on the schemes are explored based on numerical tests and Fourier analysis. The numerical results reveal that the stability of the constructed scheme is af-fected by the smoothness order, N, and the asymmetry of the scaling function. The dissipation analysis suggests that schemes with Neven have negative dissipation coefficients, leading to unstable behaviors. Only scaling functions with Nodd and bias magnitude of 1 can be used to construct stable upwind schemes due to the non-negative dissipation coefficients. Resolution of the wavelet scheme tends to the spectral resolution as the order of accuracy of the scheme in-creases.