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nononononononono.
Technically speaking, the shield is a name for the ground conductor in a balanced cabled. However, some cables can just have three conductors, whereas others actually use a braided shield (Van Damme, Mogami, Belden etc) as the the ground. Ideally a braided ground is better or best of the best, is a star quad cable (two twisted pairs (four conductors which are two opposing pairs joined, and a braided shield).
Unless you were using unbalanced cables (?) which are very prone to noise depending on the exact situation, I don't really see how this is going to fix the problem of the hiss.
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