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Sodium hypochlorite and Cal hypo both have a fairly high PH, however the process of chlorine getting used up (either sanitizing or from breakdown by sunlight) is acidic. The net effect of adding either one is PH neutral when both effects are taken into account.
33' round, 23,000 gal AG vinyl , 1HP 2spd PowerFlo Matrix downsized with 3/4HP impeller (X2), Hayward S180T 150# sand filter (X2), Hayward H250 NG heater Pool Store year 1 - $850 for 2 months; Pool Store year 2 - $440 for 2 months, TFPC year 1 - $170 for 4 months; TFPC year 2 - $95 for 4.5 months
The most important article on this site - The ABCs of Pool Water Chemistry