Network Coordinate (NC) which provides efficient distance prediction with scalable measurements, brings benefits to various network applications. Phoenix Network Coordinate system is a recently proposed dot product based NC system with high prediction accuracy and better robustness. In this paper, we discuss the neighbor selection policies for Phoenix and propose a modified Phoenix with Hybrid neighbor selection policy. Extensive experiments have been carried out to evaluate the performance of Phoenix NC systems with different neighbor selection policies. The results show that the system with Hybrid policy achieves lower relative errors (REs) and obtains a higher accuracy in selecting the nearest neighbor host. Moreover, the Hybrid policy based Phoenix NC system has a better performance in the application of Overlay Multicast. It reduces the tree cost of the ESM and MST multicast tree construction by at least 20%.