Exactly.
Tri-chlor tends to be VERY acidic pushing pH down.
Di-chlor adds almost as much CYA as Tri-Chlor, but is more pH neutral. However, just adding chlorine creates acid in your pool, so pH goes down too, but not as much as Tri-chlor.
Bleach tends to have a VERY high pH but the chlorine acidic reaction balances it off nearly perfectly so for most pool owners, it's a perfect wash--pH doesn't change.
I BELIEVE that Cal-Hypo is like Bleach, alkaline but balanced off by the chlorine acidic reaction, but I won't swear to it.
Overall, Bleach and Liquid Chlorine are the most side-effect free forms of chlorine you can buy.
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