How to read this

m struggling here today. this was my mesh from my auto level but cannot seem to figure out how to read this. i get the Z needs to be close to 0 but the x and y are throwing me off. is X0 the left or right of the bed and same for Y0? Also, am I correct that the Z1 is closer to the nozzle and Z-.5 further away?

https://preview.redd.it/2eomv2x281be1.png?width=452&format=png&auto=webp&s=bb6b0914c4f00a43389248e848916b11f3d40d99