The answer is relative to the reference date you set.
The time series are generated by calling this code internally in smallbaselineApp.py:
ifgram_inversion.py
You can see from the --help of it
ifgram_inversion.py -h
--ref-date REF_DATE Reference date, first date by default.
You will see the setting also in the config file (smallbaselineApp.cfg, which is your default value if you run smallbaselinApp.py)
########## 9.2 reference_date
## Reference all time-series to one date in time
## reference: Yunjun et al. (2019, section 4.9)
## no - do not change the default reference date (1st date)
mintpy.reference.date = 20150426 #[reference_date.txt / 20090214 / no], auto for reference_date.txt