Yes, although there are different grades of paracords and the cheaper ones will likely stretch a bit when they get wet and shrink by a small degree once they dry out. So if your paracord bracelet is made from grade I or II paracord you may find it’s a bit tighter after you go for a swim with it on. However, it will likely only shrink the first time. If you are unsure whether a particular paracord is type I, II or even III try to find out what it’s made of. True military grade paracord will be 100% nylon both in the outer shell and in the strands that make up the core. If those core strands are polyester instead, you are dealing with low quality paracord that is not true military grade and will not react particularly well to water.\r