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Sure. In a two-wire circuit, both wires carry equal currents.
Plastic wrapped around the wire is insulator. Not a conductor. That is why it is wrapped around the conductor wire.
Capacitance exists between any two conductors, current carrying or not.
Capacitance is an ability to store an electric charge. "If we consider two same conductors as capacitor,the capacitance will be small even the conductors are close together for long time." this effect is called Stray Capacitance.
1. phase identification test. 2. Insulation Resistance Test. 3. Conductor capacitance. 4.Conductor Resistance. 4. Outer Sheath Test.