Line or Low or High Voltage Twisted Cable?
Yes, power cables are twisted for exactly the same reason.  If you have sensor cables running down the same duct as power cables, twisting will minimize magnetic field coupling.

Read up on ethernet CAT6 specs.  They will tell you pretty much everything you need to know about it.  Each pair is twisted with e different prime number of twists per unit length, with the intent to not have pairs of wires line up with their number of twists.  Twisting the pair causes lines of flux to cancel themselves out.