No, because it isn't a relative jump. The presence of the segment prefix (the 'cs' part) makes it is a 20-bit FAR jump, an absolute jump computed from the segment base and the segment offset by adding them at a 4-bit shift, like so:
So, for a segment base of 0000 and an offset of 0x7x00, this would be:
However, this addressing system means that segments are no disjoint - for successive bases, the overlap by 16 bytes. This means that the same address can be represented as 0000:7c00, or 0001:7bf0, or 0010:7b00, or 0100:6c00, or even 07c0:0000. I will get to this part more a bit later.
Without the segment prefix, this still wouldn't be an IP-relative jump, however. The CS (Code Segment) segment register is one of four used in real mode, and is the default for code addresses. In real mode, the default JMP instruction without a segment prefix is a 16-bit
NEAR jump, which is relative to the segment base address held in CS, not relative to the instruction pointer - that is to say, it is a jump to cs:0x7c00, whatever CS might currently be. This means that the target of a
FAR jump with the CS segment prefix is the exact same as a
NEAR jump to the same offset -
provided that the base in CS is the same as that which is used for the origin of the assembled label being jumped to. Again, I'll get back to this in a moment.
There is an 8-bit
SHORT jump, which is a signed IP-relative jump (i.e., it can jump back up to 127 bytes, or forward up to 128 bytes) but with most assemblers, you would need to explicitly state it as SHORT:
Note that conditional jumps in real mode are different - all conditional jumps in the original 8086 were short IP-relative. Also, in 32-bit protected mode, the same opcode is used for 16-bit IP-relative jumps instead.
Now, if the BIOS is properly standards-compliant, at the boot entry point CS should be 0000, which means that if the code is assembled with an origin of 7c00, the code addresses computed by the assembler should. However, that standard didn't get formalized until the late 1990s, specifically as part of the PC98 standard IIRC. Prior to this, most BIOSes did do it that way, but there were a few BIOS implementations which had a different starting CS (usually 07c00, making the entry point the same absolute address but mangling the assembled addresses), which is why many older tutorials on boot loaders recommend that you use a FAR jump to force CS to whatever base you have set the assembled origin at.
That's what the jump you copied there is meant to do, but, well... it shouldn't be needed anymore. Not for any PC-compatible made in the past 20 years, at any rate.